Financial infidelity in marriage: Introduction
Financial infidelity in marriage is a recurring problem. Couples heading to divorce argue about many things – the kids, sex, in-laws, the house, division of labour – but a study from Utah State University and recent statistical findings from online divorce service MyDivorcePapers.com (MDP) have re-confirmed that the cause of money, not sex, is the top predictor of divorce. The study and the data show that couples who engage in financial infidelity in marriage routinely argue about their finances are setting a steady course for divorce. Many studies echo these findings, including a 2012 longitudinal study that found that money is the number one cause of tension in relationships and as a result, it’s also the top predictor of divorce.
Financial infidelity in marriage: Our definition
Financial infidelity in marriage occurs when a spouse commits to serious spending that affects the entire household without first consulting their mate. To avoid becoming a statistic couples should be doing a lot of talking about finances before saying I Do and throughout the marriage. It may not be romantic but avoiding the conversation may doom your relationship to failure. You are no doubt discussing your compatibility in many areas of life. You are more than likely not discussing your financial compatibility. The likelihood of financial infidelity in marriage may be increased as a result.
Financial infidelity in marriage: Some important considerations
Have you considered:
- How you’re planning to pay for your lifestyle?
- Saving for retirement?
- If your spending habits are compatible?
- What your financial priorities are?
- Your assets?
- Your debts?
- A prenup?
Financial discussions need to be frank and transparent. The health of your marriage may depend on your financial health. If in the course of your financial discussions you uncover serious debt issues, it’s better to deal with the debt sooner than later.; stay away from divorce by not committing financial infidelity in marriage.
Financial infidelity in marriage: We can help you
Start your life off debt free and with a go forward plan to stay that way. For sound professional help and advice contact Ira Smith Trustee & Receiver Inc. today. We can’t guarantee you a happy marriage but Starting Over, Starting Now we can help you deal with serious debt issues and put you on a path to living a debt free life.