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Does financial stress contribute to divorce rates?

On Behalf of | Nov 29, 2021 | Divorce

The reasons vary as to why married couples seek a Washington court’s approval on divorce orders. One factor that contributes to numerous divorces is financial stress. Money matters, especially anxiety over debts and savings, could create a wedge between married couples. Those who fight over financial issues may find that their marriage isn’t salvageable, making divorce unavoidable.

Financial matters contribute to divorce rates

A 2021 study reveals that married couples who can’t agree on their finances are twice as likely to divorce compared to those who do agree. Tension may increase as time passes and the married couple ages. If one spouse worries about retirement savings and the other doesn’t, tremendous friction may develop as the concerned spouse grows older and nears retirement.

Friction and underlying problems in a marriage could lead to arguments and other strife. A marriage could head to divorce court if the troubles hurting the relationship continue.

Troubles in the marriage

Debt creates problems for people regardless of their age as continual monthly payments chip away at savings or make it impossible to save in the first place. When one spouse always borrows and drives up debts, the other spouse could find the situation untenable.

Also problematic might be a spouse’s embrace of financial risk. Many professional endeavors and investment strategies come with risk, and not everyone is risk averse. While one spouse may find nothing wrong with risky economic propositions, the other spouse might wish to dial things back and embrace a more conservative approach.

Arguments over finances may never subside if neither party changes their outlook on the financial situation. For some, filing for divorce may save them from further economic and marital stress.