How Financial Issues Affect a Marriage – and Why They’re Responsible for So Many Divorces

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Financial disputes are the driving force behind many divorces in California. Differences in beliefs regarding how to use money, what to do when you encounter tough financial times, and how to use debt responsibly can create a wedge between even the most devout couples. If financial issues lead you to decide divorce is the best option for you, you don’t have to go through this alone. The divorce lawyers at the Law Office of Taylor B. Warner, APLC can help you figure out your next steps.

With our fierce commitment to our clients and their best interests, our team of Rancho Cucamonga divorce attorneys has helped California clients navigate a wide range of complex issues. Our goal is to guide you through the crucial issues facing you during divorce to help you prepare for your next chapter in life. Call us at 909-466-5575 to set up a consultation now.

Common Financial Problems in Marriage

Couples from all walks of life find themselves facing a variety of financial issues in marriage. Many of these problems can be overcome through difficult conversations, meetings with financial planners, and counseling—but some issues are too much to take on. It’s not uncommon for California couples to disagree vehemently on how best to budget, spend, save, and manage debt. One partner might prefer to save for a rainy day decades in the future, while the other is a spender that is always ready for a shopping trip. These differences can snowball into massive arguments when decisions about buying a home, saving for retirement, or helping family members out must be made. In some cases, secret debt and misused funds lead to an immediate decision to divorce when trust is broken.

How Financial Stress Can Strain a Marriage

The stress caused by financial issues takes a toll on the individuals within a marriage and the relationship as a whole. In fact, fights over finances are a major predictor for divorce. Concerns about money sit like a heavy and unavoidable burden on the couple’s back, draining the joy from their life together and leading to anxiety and depression. As money issues spiral, they may see intimacy slip away, distance start to grow, and arguments become more frequent. These disputes can cause other issues within the marriage to become more prominent, speeding up the cycle and pushing faster and faster toward divorce.

Legal Concerns During Divorce

When financial problems seem insurmountable, one or both spouses may turn to divorce law firms to figure out if dissolution is the next step for them. Couples with dramatically different ideas on how to use money may decide that they’d be better off with spouses with similar beliefs, while those who have discovered their spouse’s misused funds or secret debt may know that their trust is so irretrievably broken that divorce is the only option. In cases involving lost jobs and a lack of support navigating tough financial times, spouses may decide to go their separate ways and start over.

While divorce can help you sever the financial ties of your marriage, it’s important to remember that you will still need to deal with a number of financial issues in order to finalize your divorce. You and your ex will need to split debt and assets, and adjusting to life on one income is often a major adjustment. Reaching out to a divorce attorney early can put you in a better position to understand your options and develop a plan that limits your financial losses and allows you to start over.

Preparing for Your Financial Future

When you decide to move forward with divorce, it’s crucial to plan for what your financial life will look like post-split. That may mean cutting back on expenses, creating—and sticking to—a budget, and making sure you’re ready for unexpected emergencies. Don’t forget to consider how child support and spousal support may affect these decisions and plans, whether you expect to pay or receive financial support.

Reach Out to the Law Office of Taylor B. Warner, APLC to Discuss Your Next Steps

Our divorce law firm can help you look forward to the future and work through your divorce in a way that protects your best interests and gives you closure. Ready to talk to a divorce lawyer at the Law Office of Taylor B. Warner, APLC? Call us at 909-466-5575 or contact us online to schedule a confidential consultation.

Daniel Tan