Overspending a big concern in marriage and divorce

| Feb 14, 2017 | Family Law |

Financial matters can be very impactful in a marriage. Sometimes, such matters are a significant source of tension for a married couple.

Money-related tensions are behind a fair number of divorces. In a recent Magnify Money survey, over one-fifth of the divorced respondents said their divorce was caused by money issues.

There are many different types of money problems that can push a couple towards ending their marriage. What money problem is behind the most divorces? The results of the above-mentioned survey suggest it is overspending.

Of the survey respondents who indicated that financial issues led to their divorce, 30 percent pointed to overspending as the main financial problem at play. No other financial problem was cited by this many of the respondents.

This underscores that spending issues can be a major concern in a marriage.

Worries about overspending can also come up in a divorce. For example, a divorcing individual might worry that their estranged spouse might engage in overspending that could deplete the assets of the marital estate. When a person has such worries, it can be important for them to understand what steps they can take to protect their interests and the property of the marital estate in the face of aggressive spending by their estranged spouse.

Skilled Michigan divorce lawyers can advise divorcing individuals in the state on what legal options they have for addressing key concerns they have in their divorce, such as concerns regarding money matters, asset protection or their estranged spouse’s spending behavior.

Source: The Fiscal Times, “The Money Troubles That Most Frequently Lead to Divorce,” Beth Braverman, Feb. 13, 2017

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