Divorce is often closely connected to financial concerns. As a couple ends their marriage, they have to divide their financial and tangible marital assets. Splitting up the money that they own can be a major part of the divorce process and an aspect of it that often becomes contentious.
But it’s also true that financial issues can be what causes divorce in the first place.
Financial priorities
One common scenario involves couples in which each spouse has different priorities. For instance, one person may prioritize spending money, having experiences and enjoying their life. Someone else may prioritize saving money so that they have financial security in the future, such as when they want to retire. Neither person is necessarily right or wrong. These are both valid views. But the issue is that they may not be compatible views, leading couples to split up if they cannot compromise in significant ways or otherwise “get on the same page.”
Financial stress
The stress that financial problems can put on a marriage can also eventually lead to divorce. This is why job loss is sometimes connected to higher divorce odds. When one person loses their job or can’t keep a job, this can cause a lot of financial stress for the family as the adults try to pay the bills and make ends meet. Some couples are not able to get through this stage in life because there is simply too much tension to bear and they decide to get divorced, perhaps in part to seek greater financial security in a different relationship – or on their own.
Either way, money and divorce are closely connected and often complicated. Those who are seeking a divorce can benefit from legal guidance designed to help ensure a stronger financial reality as each spouse moves forward.