What Percent of Marriages End in Divorce Because of Money?

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by | Dec 29, 2022

It’s no secret that money is a leading cause of divorce. A recent study found that a significant number of marriages end in divorce because of financial disagreements and problems. Money is always a sensitive topic in any relationship, and it can be hard to find common ground when it comes to finances. If you’re struggling with money issues in your marriage, it’s important to seek help before things spiral out of control.

Money and Divorce

Money is widely known as one of the leading causes of divorce in America. It’s estimated that financial problems contribute to 20-40% of all divorces. That means that for every 10 marriages that end in divorce, four of them are because of money. Typically, around 41% of divorced Gen Xers, along with 29% of divorced Boomers state that the reason their marriages ended was due to financial disagreements.

There are a number of ways that money can cause problems in a relationship if both spouses aren’t on the same page. For example, one or both spouses may have a spending problem and difficulties living within their means. Another scenario may include that there isn’t enough income to pay for the necessities. In other situations, one spouse may hide financial problems from the other. This can be anything from keeping secrets about debt to having a hidden bank account or other hidden financial assets.

Money problems often put a strain on other areas of the relationship as well. For example, couples may fight more often or have difficulty communicating. One spouse may feel like they’re always working and not able to enjoy their life outside of work. This can lead to feelings of resentment and frustration.

When it comes to divorce, money is one of the most common reasons why married couples decide to split up. If you’re facing financial difficulties in your marriage, it’s important to seek help before things get out of control. There are a number of resources available to help couples manage their finances and avoid divorce. You can start by talking to a financial advisor or therapist to get started on the right track.

Discussing Money Problems

Many couples struggle to address their money problems together. It’s not uncommon for one spouse to feel as though their husband or wife is blaming them for the problems or they may not be willing to compromise. This can lead to additional complications in the marriage and create a lack of trust.

When discussing money problems, it’s best to do so in a calm and respectful manner. This means avoiding finger-pointing and instead focusing on finding solutions. It can also be helpful to set ground rules for the discussion, such as taking turns speaking or setting time limits.

If you’re having difficulty communicating about money with your spouse, it may be helpful to seek professional help. A financial advisor or therapist can assist you in learning how to effectively communicate about your finances and make decisions together.

Making Changes

Once you’ve identified the financial problems in your marriage, it’s time to start making changes. This may involve creating a budget, getting rid of debt, or increasing your income. If one spouse is struggling with a spending problem, they may need to change their spending habits or get help from a financial counselor.

Making changes to your finances can be difficult, but it’s important to do if you want to save your marriage. It may take some time to see results, but it’s worth it if it means avoiding divorce.

If you’re having trouble making ends meet or are swimming in debt, don’t despair. There are a number of resources available to help you get back on track. You can start by talking to a financial advisor or credit counselor to get started on the right path.

When You Know the Marriage is Over

Money is one of the leading causes of divorce in America. If you’ve reached the decision with your spouse or on your own that your marriage should not continue, it’s best to seek the guidance of an experienced divorce attorney.

A divorce attorney can help you navigate the legal process and protect your rights. They can also assist you in dividing up assets and debts, as well as child custody, child support, and spousal support arrangements if you have children.

Making the decision to divorce is never easy, but it’s important to do what’s best for yourself and your family. If money problems are causing strain in your marriage, seeking professional help may be the best solution.

The Jimenez Law Firm Can Help

If you find yourself in a situation where you need to divorce your spouse or if your spouse has filed for divorce, then you need a qualified attorney in your corner. The professional legal team at The Jimenez Law Firm has years of experience when it comes to Texas divorces, property division, community property disputes, child support, and even spousal maintenance.

In situations where you and your spouse aren’t able to reach an agreement, we can help through family law issues through mediation to help create a divorce settlement that you’ll both be happy with in the future. If mediation doesn’t help you and your ex-spouse reach a settlement, then we’ll aggressively represent you in court to make sure your rights are protected while looking after your best interests and the best interests of your children. We can also help with the modification of orders and the enforcement of a court order if needed.

Our divorce attorneys will provide legal advice and legal support throughout the divorce process and divorce proceedings. We handle each case with care and want to help you reach a fair settlement.

Call The Jimenez Law Firm today at (214) 513-0125 to speak with one of our divorce lawyers, or reach out to us online.