Family finances are a very common source of marital friction and can also also be one of the main contributing factors to a divorce. No matter the specific nature of each individual case, matters pertaining to money can be extremely stressful, extremely personal, and often have no easy answer. This is true for couples that are very wealthy, those who are not so well off, and everyone in between. Today, our family law experts wanted to discuss financial issues during a divorce and what specific issues are most commonly to blame.

Reckless Spending

One party spending in a way that the other may not be comfortable with is a very common occurrence in a marriage, and something that can cause considerable harm. This can take many forms; large impulsive purchases, an inability to compromise on certain spending patterns, or just a simple difference in financial priorities or philosophy that simmers over time.

Considerable Debt

Living with debt, both as an individual or as a couple, can be immensely stressful. Take for example, a situation where one party works for years to pay off their own debt from student loans. Then after marriage, they discover that their spouse has racked up several thousands of dollars more in credit card debt that they are now legally on the hook for.

Lies Related to Finances

Sometimes referred to as financial infidelity, lying about issues pertaining to money can have devastating consequences on a marriage. These lies can be used to cover up secret bank accounts, hidden purchases, unknown debt, or other harmful financial activity that can put the couples financial standing in peril. Regardless of the specific situation, financial infidelity can be incredibly damaging to a marriage.

In a recent radio appearance, Oxendine Law managing partner and family law attorney Jarrod Oxendine discusses how one large purchase can be the last straw for certain couples. Click on the link below to listen to the clip in its entirety: