Divorce can have many causes. For instance, maybe one spouse cheated on the other, the marriage was too soon or the couple couldn’t agree on how to raise their children together.
However, money is also a reason many people get divorced. Many couples have frequent financial talks, but some issues cannot be resolved easily. Here’s when money can lead to a divorce:
One spouse is using their income to control the other
In a traditional marriage, one spouse earns an income to support the household while the other often stays home to raise their children. The income-earning spouse could use their money to control what their spouse can do. This imbalance can create difficulties in marriages due to power imbalances.
One spouse is unemployed
Unemployment can be difficult for families. Some modern marriages may not be overly affected by a spouse who is unemployed temporarily. However, many traditional marriages struggle when the breadwinner is unable to work. As a result, a household may not be able to afford basic necessities and spouses may face late fees on debts.
One spouse inherited a large estate
Many people inherit money from their parents and grandparents. Many couples discuss how their inheritance should be handled. However, if there’s disagreement as to how a spouse’s inheritance should be used, then it could lead to marital issues.
There are income disparities
Many people earn a higher or lower income compared to their spouses. This difference in income can create difficulties for many reasons. For example, a lower-earning spouse may try to spend their spouse’s earnings without their permission. Or, the higher-earning spouse may demand their spouse to contribute more to the household than they can afford to do.
A spouse is financially irresponsible
Many couples spend years building up their savings and raising their credit scores. However, a spouse who can not manage their money may overspend, build up a ton of debt and need to file for bankruptcy. The other spouse may be affected as a result, which can lead to a divorce.
If a marriage is heading toward a divorce, learning about your legal rights may help you have a successful future.