Yuma, AZ – Research regarding divorces has consistently shown that financial problems are the single most problematic issues for many separating couples. A few crucial financial problems may signal that a divorce is on the horizon if both members of the couple have regular disputes related to money and finances.
Arguments over credit card debts
It is common for married couples to have credit cards and bank accounts that are held jointly in both names. In this sense, poor financial decisions from one or both spouses will definitely affect the marriage. Credit card debt is especially problematic because high balance cards can accumulate large amounts of interest that must be paid each month, making little difference on the overall principal balance unless large payments are made.
Other forms of debt
The average American family may have to deal with payments related to car loans, student loans, personal loans, mortgages, and several other forms of debt. If this debt becomes large and unmanageable, it will become a constant source of stress for the couple. People who work constantly and spend less time together to try to pay off their debts may also grow further apart or end the marriage.
Planning for retirement
Some couples may have very different views related to saving for retirement, which can become a point of contention with age. It is possible that one member of the married couple wants to save consistently, while the other is not concerned with saving at all. There are also special rules for retirement accounts that may apply during marriage. This means that there are penalties for early withdrawals, and the accounts will have to be split if there is a divorce.
Conflicting attitudes and priorities
Finances and money tend to affect many different areas of life. Everything from the job a person holds, to how often they decide to vacation and travel, to the kind of spending that is needed to support their lifestyle is a money concern. With the possibility that some differences in attitudes may not emerge until after a couple has already been married, these areas can all become catalysts for arguments. One partner may think that the other is too thrifty or cheap, or the opposite problem can be an issue if one or both members of the couple are spending way too much. Ideally, members of a couple should have similar priorities when it comes to things like owning a home, raising children, and where their money should be spent.
Meeting with a divorce attorney in Arizona
Schneider and Onofry is an experienced family law firm in Yuma. They can assist local couples who are going through a divorce or having other family problems.
Firm contact info:
207 W. 2nd St., Yuma AZ 85364