Financial issues are some of the most common reasons modern marriages fall apart. Some financial issues, in particular, are often more damaging than others. Money issues are so common within modern marriages, in fact, that CNBC reports that more than 35% of people cite financial troubles as their biggest marital problem.
Just what types of financial issues are most likely to lead to strife within a marriage?
Concealing money – or debts
Once you marry someone, numerous aspects of your life become intertwined, and your finances are likely among them. While many married people – two out of every five married couples, in fact – admit to hiding money from one another, doing so can have catastrophic effects when it comes to trust. The same holds true when it comes to concealing debts. In many cases, one spouse’s financial moves can negatively impact the other, so withholding information about debts is likely to lead to considerable marital hardship.
Having opposing spending habits
Spouses with vastly different spending habits may, too, find that financial troubles cause considerable strife within their unions. Such issues may be more likely to arise within couples when one party makes considerably more than the other. While couples commonly fight when one party spends substantially more than the other, it is also common for couples to fight for the opposite reason, meaning they may do so when one spouse is far more frugal than the other.
Financial issues such as those outlined above are a common reason many decide to divorce. You and your partner can avoid such issues by discussing your financial preferences and habits before officially tying the knot. Others, though, will undoubtedly arise somewhere down the line. You and your spouse will have to determine whether you are both willing and able to work through them – or if it may serve you better to go your separate ways.