Couples often cite financial issues as the reason for their divorce. Maybe they had overwhelming debt that caused significant stress. Perhaps one person was unemployed and not contributing financially to the family, leading to tension. There are many ways financial stress can create problems and impact relationships.
One important factor to consider is that differing views on money may erode the foundation of the relationship over time. These financial perspectives, which individuals often bring into the marriage, can eventually lead to divorce. Let’s look at an example of how this could happen.
The conflict between spenders and savers
A common scenario is when one spouse is a spender and the other is a saver. For the spender, money represents a way to enjoy life through experiences or purchases. They see it as a tool for immediate happiness and fulfillment. For the saver, money represents long-term security. They prioritize saving to feel relaxed and confident about the future.
Neither perspective is inherently wrong, but conflicts arise when couples hold opposing viewpoints. The saver may feel the spender is wasting family assets or making frivolous purchases, leading to increased financial stress and a lack of stability. On the other hand, the spender may feel the saver is overly controlling, criticizing their decisions, and preventing them from enjoying life by focusing too much on saving every possible cent. Over time, these constant disagreements can push the couple to seek a divorce.
Financial disagreements during divorce
Division of assets is a major aspect of divorce, so financial disagreements may persist even as the marriage ends. It’s important for couples in this position to understand the legal steps they can take and to be aware of their rights throughout the process.