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Many divorced individuals reluctant to talk about finances

There are certain things people may be hesitant to talk about after a divorce. A recent survey suggests this often includes financial matters.

In the survey, over 2,300 U.S. adults were asked about whether they talked about finances with their family.

How many said they almost never had such discussions? For the respondents as a whole, only a little above a quarter (27 percent) gave this response. However, this was a far more common answer among the survey participants who were divorced. Of these individuals, over half (56 percent) said they almost never discussed money matters with their family.

Why this big difference? Factors that could be possible contributors include feelings of financial embarrassment and stress among divorced individuals.

It is not uncommon for people to face challenging situations regarding money issues after a divorce.

When such difficulties are drawing a person to be more secretive about finances, it can be very important for him or her to not let this tendency keep him or her reaching out for the support he or she needs. Talking about money matters with trusted individuals can help divorced individuals with reducing money stress and embarrassment and getting themselves in the place they need to be to overcome the challenges they are facing.

So, building up a support network to have such discussions with can be critical after a divorce. This network can include friends and family, support groups and financial and legal professionals.

When including family in this network, there are some important things to keep in mind. One is to keep what you are sharing appropriate for the given family relationship.

It is also important to be appropriately cautious about advice friends and family give when supporting you. For one, it is important to remember that such suggestions are likely colored by your loved one’s perspective, and thus may not necessarily be a good fit for you.

Also, while friends and family members may be well-meaning, they are likely not experts on post-divorce financial matters. So, when complex issues arise, it can be best for divorced individuals to rely on the advice of professionals rather than the advice of loved ones. For example, when legal issues arise regarding a potential need to modify a spousal support or child support arrangement, it is wise to speak to a skilled family law attorney.

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