According to oft quoted statistics, in 30% of divorces personal finance issues are the underlying cause. A more recent study by the American Institute of Certified Public Accountants and Harris Interactive showed that 27% of respondents admitted that their marital woes started over money. In many cases, a lack of money was not the issue; communication and deception were the problems. Here are three financial ways that you could be forcing your own divorce.
43% of couple never talk about money before they get married. That means that you and your new spouse are in for quite a surprise after the bills start coming in. That is not so true if you both are on solid financial footing, but if you are hiding massive debt or a shopping addiction, then trouble is on the horizon.
Many couples think that they should continue on their own financial path after marriage. Nothing could be further from the truth. You must be on the same page in every aspect of your life, especially when it comes to finances.
Many couples are embarrassed to admit that they can not agree on or handle their own personal finances, so they refuse to seek help. ”I probably spend 15 percent of my time with couples actually talking about money, and the other 85 percent talking about personal issues,” says Chris Kimball, a certified financial planner.
Money can be a blessing and a tool or it can be the root of all things evil in your life. Without open and regular communication with your spouse or partner, it can end your relationship. If you have trouble agreeing on a clear path or have trouble meeting your goals, do not hesitate to seek help. The Association for Financial Counseling and Planning Education has a searchable database of trained financial counselors at (www.afcpe.org).
If you are already drowning in debt, you may need to seek the service of a credit counselor in Kentucky. For that, we can help.
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