Blog posts tagged in marriage finances
Financial infidelity can be devastating to a marriage. When a spouse lies about financial decisions or makes big decisions without consulting the other it not only takes an emotional toll but can also lead to serious financial hardship for the family in the future. A recent study released by the National Endowment for Financial Education showed that 31% of Americans have lied about money to their spouse, and financial concerns are among the leading causes for divorce around the country.
What Does Financial Infidelity Look Like?
Financial Infidelity can take many forms. If your spouse is being deceitful about money, you may notice that:
There’s no doubt that financial disagreements can play a significant role in the turbulence of a relationship or marriage. Studies have found that arguments over finances are in fact a leading reason for divorce, highlighting that early fights over money issues can be major red flags for the relationship. Couples that can’t come together over money will face an uphill battle to stay together. There are many factors that can influence your likelihood of divorce, but understanding some common financial deal breakers can be helpful for determining potential issues.
Credit score is playing a bigger role in who men and women will consider a long-term partnership with. According to a study by freecreditscore.com, 1/3 of women and 1/5 of men would not walk down the aisle with a person attached to a bad credit score. Being upfront at the outset of your relationship about past financial troubles can clear the air and allow you to set up a plan to get on top of your situation. This will also be beneficial if you decide to buy a car or house with that person down the road.
Earning potential for women is something to watch out for as well. Women who earn more than their male spouses might indicate an increased chance for divorce. A study conducted over 25 years in the Journal of Family Issues discovered that women faced a higher likelihood of divorce when they earned 60% or more of the family’s income.