With almost half of all marriages in the United States ending in divorce over the past few decades, it should come as no surprise that divorce has become a very prevalent part of American culture. What the citizens of Illinois may find surprising to learn, however, is that regardless of the reason behind the dissolution of the marriage, the common theme that seems to underlie most divorces tends to be money problems.
Money problems can take one of many forms: For instance, couples who don’t communicate well with one another and don’t discuss their finances will run into problems at some point. Even if the couple manages to temporarily stave off said problems by one spouse relinquishing most, if not all, of the financial decisions to the other spouse, this strategy becomes untenable in the event of the premature passing of the spouse making all the decisions.
Similarly, when either spouse keeps money secrets from the other, such as hiding money or being dishonest about key financial details, this tends to spell disaster for the marriage. After all, once the trust is broken, it becomes a matter of time before the couple begins to distrust one another in other aspects of their lives besides the financial.
A third type of money problem is related to the amount of savings the couple has; given that more than 50% of American families have no more than $1000 in savings, it is safe to say that these families are living without a safety net, which can put enormous stress on the marriage should there be an emergency. This lack of savings might be a slight oversight by the couple or might be due to the couple’s spending habits, particularly if one of the spouses is a heavy spender.
As a result of all of this, it is always advisable to reach out to an experienced professional who can help couples manage their finances and avert any potential future problems. Furthermore, with the right help, couples can work on their communication as well as adopt similar goals that will help them save money for a rainy day.