You may or may not be surprised to learn that the divorce rate in the U.S. has been around 50% for many years. While there is a myriad of reasons as to why divorces can occur, there generally are commonalities between all divorce cases. In many instances, money and finances can cause a lot of distress. Ultimately, if we can solve our issues with finances, many people would be able to avoid divorces. Top Divorce attorneys in Scottsdale recommend paying attention to the following list of three of the most common money problems in a marriage along with some solutions that can help get you back on the right track.
It’s in your best interest to never hide money from your spouse. Finding out about a secret stash of money can lead to mistrust. Ultimately, this will impact other areas of the marriage.
Do not keep secrets from your significant other. It’s important to be entirely transparent, which builds trust and fosters love.
It’s absolutely imperative to have a strong foundation for communication with your spouse. Couples who do not talk about their finances will inevitably experience trouble sooner rather than later. Ultimately, you should seek to establish trust with each other. Once you have this, it’s okay to relinquish the financial management role to one partner over the other.
You should set up regular meetings with your spouse to discusses finances. For example, talking about mutual access to online bank accounts will only help your marriage.
Not Enough Savings
It is no surprise that many American families have under one thousand dollars in savings. Think about it: with no money in the bank, you will undergo stress.
There is no question that you have to generate and save money for unforeseen expenses. You should have separate savings account devoted to just this.