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Money arguments a leading cause of divorce

Many residents of Newport News likely know that financial issues often play a role in marital trouble. In fact, disagreements over finances is one of the leading causes of divorce in the United States. The decision to end a marriage doesn’t necessarily ends arguments over money, however, and there are things couples can do to mitigate frustrations and trouble both before and after a decision to divorce is made.

One expert recommends that couples talk about financial concerns as soon as possible in an honest and open manner. Sweeping things under the rug or bottling up emotions about certain issues won’t help either a marriage or a divorce process. A first step in the discussion process is understanding each person’s personality when it comes to money management. Some people are more structured than others; some people worry more than others. Understanding both personalities helps in discussions about finances during a marriage and can create smoother divorce negotiations.

Whether individuals are planning to stay married or are seeking divorce, working together when possible to reduce debt and plan for a more stable financial future is always a good idea. Divorces can become contentious, and there is sometimes an attitude of getting everything you can from the other party. Sometimes, this hurts both parties. When possible, look for agreements that help everyone achieve their goals.

Financial management takes work, especially when two people are involved. This is even more true when two people are dividing property and taking separate paths in life. Be prepared to put in some work when going through a divorce to ensure the best possible outcome, and don’t be afraid to seek assistance outside of yourselves to help mediate or complete the divorce process.

Source:  News Times, “Business: Money Arguments” Julia Carlson, Jul. 29, 2014

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