How often do you and your spouse argue about money? If it rarely happens, count yourself lucky. Many experts note that this is actually the number one cause of arguments for married couples.
For this reason, financial stress is one of the top reasons that people decide to get divorced. They run into these arguments so often, for a variety of reasons, and they eventually decide that they just have to end their marriage and move on.
What do they disagree on?
The actual stress can come from a range of more specific sources. For instance, one person may simply be a “spender” who wants to use their money for experiences and products. The other person may be a “saver” who wants to use their money for retirement. These two will often feel like they’re working against each other, and that can lead to disagreements.
Overwhelming debt can also cause a lot of financial stress, and it can make all of these decisions even more important. If you know that your family is facing a lot of debt and you still don’t agree with how your spouse is using money, you may feel like your spouse is actually the one who created the debt. A lot of people eventually just determine that the only way for them to get control over their finances back is to get a divorce so they can make these decisions on their own.
Exploring your options
If you and your spouse are thinking about divorce, it can get complicated when there are significant assets or significant debt on the line. Make sure that you know what legal steps to take to protect your future.