Love and money do not always go together like a horse and carriage. In fact, money can often be the death blow to love and marriage. Whether couples disagree about how their money is saved or spent, or whether financial infidelity has put a kink in the union, both situations can lead to a bitter divorce.
A Hot Incentive for Figuring Out the Dollars and Cents
Twenty percent of couples surveyed say they would have sex more often if they had more money, according to financial security expert Pamela Yellen, author of The Bank on Yourself Revolution. She created a love and money self-assessment to help couples figure out if they’re financially compatible and, along the way, discovered that financial stress causes problems in almost 70 percent of relationships.
What kind of financial sins do couples commit? They keep spending secrets, hide purchases they make, lie about the price of items they buy, and – gulp – even steal money from their partner’s wallet without permission.
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Are You a Victim of Financial Infidelity?
For couples who can’t get past the dirty money secrets their significant other has engaged in, divorce may be imminent. But if you haven’t gotten quite that far yet and you’re at the point where you’re trying to determine whether you’re sticking with your partner for the long haul, there are signs to look for that may indicate whether financial infidelity is occurring:
- A sudden change in regular income
- Opening new accounts without consulting you first
- New spending patterns
- Excessive shopping
- Signing documents without your consent
In the broadest terms, financial infidelity can include hiding assets, hiding debts, and gambling problems. Essentially, financial infidelity is cheating, and not being completely honest about this situation can put a stake in your marriage. If you live in a household where one of you bears the brunt of managing your bills and accounts, this can be a recipe for disaster if you don’t have open communication about your finances on a regular basis.
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Reinstating Financial Solid Ground
Perhaps a financial evaluation of one’s goals and beliefs where dollars are concerned is the kind of thing that should be a requirement before every marriage? After all, Yellen found that almost half of survey respondents never discussed finances before committing to their relationship – yikes.
If financial infidelity is at the root of your divorce, you no doubt have concerns about whether or not your soon-to-be former spouse will be able to manage child support and spousal support. When lying played a central role in your relationship, you need the support of a divorce attorney. Contact an experienced Michigan divorce attorney at Michigan Divorce Help in Mt. Clemens, MI, to schedule your no-cost initial interview.