No one gets married with the intention of divorcing someday, but neither do couples plan on drowning in debt, which can wear down even the strongest bond. An experienced divorce attorney has witnessed firsthand the toll that financial stress can take on a marriage, and it often starts with the nuptials.
According to CNBC, the average cost of a wedding is $26,000, and NerdWallet reports that in 2015, the average household had more than $130,000 of debt. If you and your spouse just don’t see eye to eye when it comes to finances and you are considering divorce, turn to Backus Law Group in Montgomery, AL, to talk to a divorce attorney about your situation.
Here are three financial mistakes that ruin marriages every single year:
- Spending Money You Don’t Have On Things You Don’t Need: Not all debt is bad. For example, going into debt in order to purchase a home or get a degree can pay off in the long run; however, racking up credit card debt for items that you don’t actually need is never a good idea. Living outside your means can lead to bankruptcy and even foreclosure, which often leads to divorce.
- Taking Opposing Approaches To Managing Finances: They say that opposites attract, and while that may be true, having opposing views on how to manage money can make any two people wholly incompatible. If you’re a spender and your spouse is a saver, it’s possible to make the marriage work, but it means you both have to be willing to put in additional effort to do so.
- Valuing Material Items More Than Each Other: It might be tempting to try to keep up with the neighbors, but if you and your spouse sense that you are more focused on acquiring material possessions than you are on each other, it’s time to take a step back and consider what really matters.
If you tried to make it work despite financial differences but are now considering divorce, you will find a compassionate divorce attorney at Backus Law Group in Montgomery, AL. Visit their website to learn more about the divorce lawyers at their firm, and call (334) 265-0800 to schedule an initial consultation today.