For couples in the middle of a divorce, money is likely to be one of the biggest points of contention between them. Each may have their own ideas about what share of assets they should get, and how much spousal support or child support should be paid, where applicable.
For those who are still OK in their marriage, it is important to realize that money is often the issue that brings couples to the point of divorce in the first place. Here are some of the reasons why.
Money issues can stress a relationship
Maybe you can think back to a time when you were single and struggling to pay a particular bill. Even if it was just one bill, the inability to easily pay likely caused you significant worry. Married couples have multiple bills they are struggling to pay, due to increased costs such as owning a home, raising children or ill health. It can be hard to prevent that stress from affecting areas of life, such as their relationship, even if they do not blame each other for the debt.
Sometimes, couples do blame each other for money issues. Even when they are still financially fine, they may get annoyed at each other over spending or refusing to spend. Often this is due to inherent differences in their attitude to money. For example, one spouse gets a bonus and comes back telling their spouse they have just booked a luxury vacation for them. The second spouse feels that is a complete waste of the bonus, and that they should have kept it to help build a deposit toward buying a house.
Anyone considering a divorce would be wise to start learning more about the financial implications and how best to advocate for the settlement they need, if they decide to go ahead with ending their marriage.