Many married couples in West Virginia and elsewhere argue about money from time to time. While many of these disagreements result in little more than a heated debate, there are some more pervasive money issues that can lead to the end of a marriage. In fact, money issues are perennially one of the leading causes of divorce, but here are a few tips couples can use to keep such matters from sabotaging a marriage.
- Maintaining separate accounts and splitting bills – Instead of using a joint bank account, couples can maintain their own separate accounts and split the household bills between them in a fair and equitable fashion.
- Dealing with debt – Some spouses enter a marriage with significant debt, either from student loans or some other source. Working through paying down debt can be a frustrating endeavor, but couples should try to work together to relieve their household of debt in a timely matter. Incidentally, in most divorces a spouse will not have to incur his or her ex-spouse’s debts that were incurred before the marriage.
- Personality – Some people are spendthrifts who blow through every cent they earn, while others are natural savers and very prudent with their purchases. Marriages between people with vastly different spending habits can cause issues, but couples can work through the issues by addressing and moderating the situation for mutual benefit.
- Power plays – In some marriages, one spouse may work while the other stays home to take care of the children. There are also situations in which both spouses work but one makes significantly more than the other. In these situations, power plays, whereby one spouse essentially uses his or her position to dictate what happens to the money, can cause rifts in the marriage.
Other money issues can arise from the costs of raising children, starting a business and other areas. Working through money problems is possible if two spouses are willing to work together. However, those who feel their marriage can no longer survive due to irreconcilable money differences should consult with an experienced family law attorney in West Virginia for advice.