Are you and your spouse on a different page financially?
The period before marriage is typically light-hearted and fun for most couples. This generally lasts up until the wedding day and honeymoon period. After that, the challenges begin.
Every married couple has disagreements at times and the ability to communicate and compromise is pivotal to the success of a union. One area that many couples struggle with is finances. If it becomes apparent that a couple cannot see eye to eye with regard to their spending and saving, then the marriage could be in trouble.
Outlined below are some of the more common financial disputes that occur between married couples:
Having to share assets
If a person has been single for an extended period of time, then they are used to taking care of their own financial needs. Everything they earn is their own and they don’t have to answer to anyone else before spending.
During a marriage, this changes. Couples are supposed to be open about finances and look after one another. This can be a difficult adjustment for single people to make and if they fail to adapt, then disputes are almost inevitable.
The question of starting a family
Whether or not each partner wants a family or not is usually a discussion that comes up before the marriage. Even if that was the case, it doesn’t mean that people can’t change their minds. Starting a family can be exciting but it also involves a massive financial commitment.
Raising a child costs thousands of dollars every year and this is just for necessities. Medical costs, educational costs and numerous other factors all have to be considered. The potential cost of starting a family is something that couples commonly fail to agree on.
If you sense that your marriage isn’t working out and divorce is on the horizon then it’s important to start thinking about protecting your interests. You’ll probably find it extremely beneficial to seek some legal guidance.