Finances have the potential to be a major source of argument within a marriage. And fights over money can have major impacts on a married couple’s relationship. Research has pointed to it not being at all uncommon for divorced couples to cite financial issues as being a factor in their divorce.
Today, we’ll go over some of the steps couples can take to try to keep financial issues from being a source of contention within their relationship. For couples planning on getting married, there are measures they can take prior to tying the knot towards this goal. Examples include:
- Honestly discussing their financial situations with each other.
- Talking with each other about how they want to manage money and handle financial issues during the marriage, and setting up a system for this.
- Setting a joint budget for the future.
- Discussing and setting joint financial goals for the future.
- Considering a prenuptial agreement. Looking into a prenup can not only help a couple understand if this type of agreement is a good fit for them, it can also help get them used to discussing financial issues with one another.
Once a couple is married, maintaining open and honest communication about finances remains important. Married couples also may want to regularly check in with each other as to whether they are still on the same page when it comes to the budget and financial goals and plans, and adjust these things as needed.
If a couple decides to divorce, whether money matters were a contributor to this decision or not, financial issues could be a major point of contention in the divorce and a major source of worry for both divorcing spouses. Once again, advanced planning can be key in avoiding unnecessary conflict and protecting interests. Skilled divorced lawyers can help individuals planning on getting divorced prepare their strategies for addressing important divorce financial issues such as asset division.