Money controls many aspects of life. It dictates whether you have a roof over your head, your standard of living and potentially how many children you decide to have. But it’s not only the question of how much money you have that can dictate certain aspects of your life. Your spending habits, priorities and transparency around money could severely affect your marriage.
It’s not only those who are short on money who could see their marriage suffer due to financial disagreements. Many wealthy spouses see their marriage fall apart because they do not agree on how to manage their finances. The following are some common examples of how financial disagreements can lead to a divorce.
Differing financial priorities
Everyone has different priorities when it comes to money. Some people believe that if they earned it, they have the right to spend it any way they want, and they’d rather live in the now and live a luxurious life. Others want to plan for the future and put money away every month so that they’ll always be able to provide for their family. It’s important that you understand how your partner thinks about money earlier on in the relationship, since if you are financially incompatible, your relationship might not last.
Lying about spending
Honestly is key in a relationship, and it applies to all topics. If you or your spouse lies about their spending habits, impulses or debts, this could lead to trust issues or further relationship issues. As spouses, you should be able to be transparent and open when it comes to any issues you have around money.
Being frivolous or selfish with money
Strong partnerships put the relationship and the family first. Therefore, if you or your spouse put purchases such as luxury clothing or sports tickets ahead of the family, this could lead to deeper issues.
If you are going through problems in your marriage, it’s important that you also consider how financial disagreements could affect the process of divorce.
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