Frequent fights about financial issues undermine a Nebraska couple’s ability to communicate. Ultimately, failing communication could end a marriage. A university study confirmed this by identifying ongoing financial disputes as a red flag for divorce. Money woes upped the likelihood of divorce by 30 percent.
Marriages often begin with the partners bringing debt to the table. A survey sponsored by Fidelity discovered that over 50 percent of marriages start in debt, and 40 percent of spouses agree that the financial burden strains their relationships. Debts can create arguments because sometimes people reject their responsibility for the debts. The survey found that 49 percent of spouses contradicted each other about who should pay the debts.
Out-of-control debts can increase stress between spouses when credit card bills interfere with paying for basic utilities. Excessive debt could even result from spouses trying to buy happiness with purchases they cannot afford, like a new car. This behavior adds to their burdens and contributes to a deteriorating relationship.
People can take proactive approaches to paying off debt and imposing order on their financial lives. These actions could reduce relationship stress. At times, however, a person might conclude that a relationship has eroded to the point where marital separation becomes necessary. A person who possesses significant assets or debts might want insights about legal rights before negotiating a divorce settlement. An attorney could strive to defend the person during property division and prevent costly decisions made during emotional conflicts with a former partner. Ideally, a person might come to terms with the ex-spouse outside of court, but an attorney could litigate the divorce if the person wants a judge to settle a financial dispute.