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Money issues and divorce are intertwined

On Behalf of | Jun 7, 2021 | Divorce

Even when a couple is financially well off, they can have money issues. It could be that couples don’t agree on how to spend money or what to spend it on. One thing is for certain, whether a couple is financially healthy or doesn’t have enough funds, money is often a major cause of divorce among New Jersey couples. Nothing can lead to problems in a marriage quicker than the issue of money. 

Lay the cards on the line 

Spouses should be transparent about how they feel about money. In a marriage, professionals suggest all couples should clarify what belongs to whom within the marriage and who is responsible for what financiallyFor instance, who pays which bills? Who buys groceries? Who is responsible for the upkeep of the home? Experts also suggest talking about how to handle money so each person feels on level ground when it comes to finances. 

Monetary goals 

It could be a disaster if each person has incredibly different goals when it comes to money. One spouse may like to save money, while the other has no issues with spending. This may cause a big rift and should be clarified. Honest conversations, although difficult at times, are often necessary when concerning important element of a marriage, like finances. 

There are times when money issues have reared their ugly heads too many times in a marriage and divorce becomes imminent. As an aside, this is another reason why prenuptial agreements are worth having. In any case, New Jersey couples who are in this dilemma would be wise to get independent legal advice from a lawyer experienced in family law.