6 Financial Issues That Can Lead to Divorce

There are lots of reasons why couples get divorced. In some cases, there is an identifiable reason — such as infidelity or domestic violence — while in others, there is no single reason but rather a gradual cooling of affection. One of the most common reasons for divorce is financial issues, which can put a significant strain on any marriage — even for high-income couples. Here, our Stockton family lawyers review six financial issues that can lead to divorce. 

1. Financial Abuse 

Financial abuse refers to situations in which one spouse uses money to exercise control over and manipulate the other spouse. It encompasses many behaviors, such as limiting a spouse’s access to money, prohibiting a spouse from working, tightly controlling a spouse’s spending habits, and confiscating a spouse’s money for personal benefit. In some cases, the financially abused spouse may see no other alternative than to end the marriage. 

2. Lack of Communication About Finances 

Money can be a relationship stressor as much as any other issue, and the best way to handle relationship stressors is to talk about them. However, talking about money can be difficult even for married couples since many people view such discussions as rude, embarrassing, or inappropriate. Failing to communicate about finances, especially when financial issues arise, can significantly raise the stress level in a marriage.

3. Different Spending and Saving Habits 

Everyone has a different relationship with money. While some enjoy splurging and treating themselves, others prefer to live simply and save. There is nothing inherently wrong with either of these approaches, but unbalanced approaches to money can cause issues in a marriage, especially where the couple pools their finances. A prenuptial agreement can help to mitigate some of these issues. 

4. Unaligned Financial Priorities 

Financial priorities are long-term goals for how money will be saved and used. For example, one spouse’s goal might be to go to graduate school, while the other spouse’s goal might be to open a small business. Unfortunately, not all couples have enough money to pursue different individual goals, and such unaligned priorities can cause significant marital friction. 

5. Unemployment 

Unemployment can wreak havoc on a marriage. When both spouses work, it can result in the unemployed spouse leaning more on the employed spouse, thereby putting more financial pressure on them. When only one spouse works, and that spouse loses their job, it can create significant financial uncertainty for the couple, perhaps even forcing the other spouse into the labor market. 

6. Debt 

Debt is an albatross around the neck for many, including many married couples. Whether that debt is due to living beyond one’s means or attending school, it puts a significant strain on any couple’s finances, which can lead to increased disagreements about how to handle spending and saving. In some cases, debt can also result in one or both spouses working longer hours and spending less time on the relationship, possibly leading to feelings of alienation and neglect. 

Speak to a Stockton Family Lawyer About Your Marital Financial Concerns 

If you have concerns about how financial issues may be affecting your marriage, including how your debts might be divided in divorce, you should consider speaking to an experienced attorney. To get started, please contact a Stockton family lawyer at McKinley, Conger, Jolley & Galarneau by using our online form or calling us at 209-477-8171.