But in other situations, couples may actually go into debt in an effort to save a marriage that’s already in trouble, Post explains. In some cases, a couples’ debt might be so high that they find themselves worried about affording something basic, like a light bill, because their credit card payments are so high, Post says.
“When you can’t communicate about money, then neither party is going to recognize when they’re living beyond their means, or when you need to cut back on your expenses,” he says.įor so many of us, it’s the unknowns that cause the most stress - How will I be able to pay this down? How much debt do I have? What’s the interest rate? According to the Federal Reserve, Americans underestimate how much student loan debt they carry by 25 percent and underestimate their credit card debt by 37 percent. Post, New York City matrimonial attorney. Rarely do couples walk into a divorce attorney’s office and announce, “We want a divorce because we’re having money problems,” but ultimately, money is at the root of many divorces, explains Bernard G. Thankfully, the next time you feel a quarrel brewing, you don’t have to give in to temptation, and you may even be able to stop your fight - along with your debt- in its tracks.
According to a study from Utah State University, fighting about finances is a top predictor of divorce, with couples who fight frequently being 30 percent more likely to divorce than those who rarely argue.
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