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3 financial factors that often contribute to divorce

On Behalf of | Nov 15, 2021 | Family Law |

There are numerous potential reasons why a couple may opt to pursue a divorce. However, finances are frequently a key factor in disagreements between spouses.

At times, couples may neglect to discuss their financial priorities before getting married, meaning that opposing views only become apparent at a later date. As a result, the role of finances in the motivation for divorces warrants further consideration. Outlined below are three financial factors that often contribute to divorce.

Differing financial attitudes

Generally, people work hard for their money and they have a right to spend it as they wish. However, the financial behavior and priorities of spouses may differ. Situations where one partner likes to save for the future while the other takes a more frivolous approach could be a hotbed for conflict. For example, a spouse who likes to spend more freely could feel that their partner is constantly nagging them about money. Additionally, a partner who appreciates saving may reach the conclusion that their wishes are simply not being respected.

Debts

At times, a spouse may find themselves under significant financial pressure. In such a scenario, it is easy to rack up large amounts of debts. This has the potential to put a great amount of strain on a relationship, especially if the debts have been hidden.

Sharing financial control  

Spouses are often used to being fully independent before marriage, including having independence over their financial activity. The transition into the shared financial responsibilities of married life can often feel overwhelming. Tensions may arise where one partner feels as if they are losing control over their own affairs.

Understanding some of the contributing factors to divorce could be in your best interests. As a spouse in Texas, it is also important to remember that you have legal rights.