Four Monetary Habits That Can Cause Divorce
Money ranks near the top of the list of disputes that can lead to divorce. Spouses with different values related to money will eventually be at odds with each other. The difference may cause a minor argument when the marriage is financially stable. However, financial hardship caused by different spending habits can create great conflict between the spouses. The two parties may feel distrust and resentment towards each other that grows to the point that they can no longer cooperate in a marriage. There are several monetary habits that can cause discord in a marriage:
- The Money Manager: When one spouse is more knowledgeable about budgeting and finances, the other spouse may cede all financial decision making to the experienced spouse. This may be practical, but it creates a power imbalance in the relationship. A spouse who unilaterally makes all of the financial decisions may not understand or respect the other spouse’s financial needs. The other spouse may eventually resent not having the ability to make his or her own decisions.
- The Breadwinner: One spouse’s willingness not to seek full-time employment puts a strain on a marriage. The employed spouse may feel he or she bears a disproportionate amount of the financial burden. As a result, he or she may resent the unemployed spouse. In turn, the unemployed spouse may feel unappreciated for what he or she does to manage the home and care for children.
- The Free Spender: Some people are more inclined to spend the money they receive than save it. Spouses commonly disagree on what percentage of their money should go towards luxury expenses and what should be kept in a savings account. However, some spouses are reckless in their spending habits, making large purchases without consulting their partners. This will frustrate a more fiscally conservative spouse and can put both parties at risk of increasing debts.
- The Penny Pincher: A tendency towards saving money shows financial responsibility, but a spouse’s saving habits can go too far. Spouses and families should be allowed to treat themselves occasionally by using their money for gifts and fun activities. A spouse who is always trying to conserve money may leave the other spouse unsatisfied in their marriage.
Financial stress often spills over into other aspects of the marriage. When spouses disagree about how to handle their money, their arguments may lead to a breakdown in their relationship. Their different ideas about money will likely continue during the divorce negotiations. A Kane County divorce attorney at the Law Office of Martoccio & Martoccio can help you handle financial disagreements during your divorce. To schedule a free consultation, call 331-588-6611.