5 financial difficulties that increase the chances of divorce

On Behalf of | Jun 22, 2024 | Divorce

Divorce often happens because of cheating, communication difficulties and parenting differences. One issue that many people do not realize can cause divorce is financial difficulties.

There are many ways that money might lead to a divorce. Let’s look at some of them

1. Unemployment

Unemployment can lead to many financial difficulties for families. If a spouse can no longer provide for their family, then it could cause the other spouse to feel resentment and frustration. This can be especially troublesome if the unemployed spouse is the sole provider for the family. Long-term unemployment may cause a spouse to consider divorce.

2. Overspending

Many people have shopping addictions. However, this kind of addiction can lead to large amounts of debt. This could become a growing issue for the spouse of a shopping addict. If the shopping addict does not stop their habits, it could cause the end of a marriage.

3. Hidden debts

A spouse could have extreme debt because of a loan they took out in the past. The other spouse may not be aware of the debt. If they find out, they may not feel comfortable having the debt hidden from them. This kind of secrecy could lead to divorce.

4. Different attitudes about savings

Many married couples share savings accounts. One issue that could cause a divorce is if it is unclear what the savings should be used for. While one spouse may have some investment ideas, the other spouse may be opposed to the use of the savings.

5. Income differences

It is not uncommon for one spouse in a marriage to make a higher salary than the other. However, the difference in income between spouses could lead to marital difficulties. For example, one spouse may resent the other for making more or less money than they do.

If money has come in the way of your marriage, then it can help to reach out for legal guidance to learn how to protect your assets in a divorce.

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