Money-related issues are frequently cited as a reason for divorce.
We asked experts to name the biggest money-related reasons couples get divorced.
They include mismatched financial priorities, unexpected major expenses, and discovering a partner’s secret spending.
Visit Business Insider’s homepage for more stories.
Money is the No. 1 thing couples argue about.
So it’s no surprise that money-related conflicts are frequently cited as a reason for divorce.
There’s a good reason for this: Money and stress very often go hand in hand, whether it’s because of an overextended budget, an unexpected financial emergency, or even the discovery of your spouse’s secret credit card. And financial issues don’t discriminate — they can unravel marriages between wealthy couples and couples in major debt alike.
We reached out to a range of experts, from matchmakers to financial planners, to find which money-related matters are most frequently causes for divorce.
Here are the financial issues that are tearing couples apart.
Opposing attitudes toward money
It’s important to talk about your financial situation before getting married, but few couples actually take the time to really understand each other’s views on spending and saving.
“Unfortunately, this can cause frivolous fights between two people who have completely opposite views toward money,” Andrea Woroch, a personal finance writer, told Business Insider.
“If one partner spends without thought and the other frantically saves every penny, there’s bound to be tension. The spender may feel that his or her partner is constantly nagging and cheap, while the saver may feel vulnerable to the effects of overindulging.”
Mismatched financial priorities
It’s important to identify financial priorities before getting married, as it can become a point of contention if the partners aren’t on the same page.
“If you don’t identify major shared goals — like buying a home or traveling to an exotic new place — it can create problems down the line, since you won’t be working simultaneously to save toward the same goals,” Woroch said.
Credit card debt
Joe Raedle/Getty Images
“A friend of mine had a spouse who racked up about $100,000 in credit debt and got a home equity loan on top of that,” Becca Hoeft, chief brand officer of Sunrise Banks, told Business Insider.
“The spouse worked overtime for years to pay down the debt, only to have his mate rack up another $100,000. Severe credit card debt is a sure fire way to inadvertently schedule divorce proceedings.”
Read more: feedproxy.google.com