Marriages are made in heaven indeed, but It’s no secret that conflict over money is one of the leading causes of stress and divorce. It could mean that the more money you earn the more trouble to come in your marriage.
Financial experts say they see too many couples with a lot of money, but nothing to show for it. They may struggle because their monthly expenses are too high and they’re not saving for retirement. In addition, oftentimes a high earning partner may have a spouse that opts not to work as a result, which can lead to conflict.
Those with the highest credit scores were most likely to form long-lasting committed relationships. And the better your financial footing and the higher your credit score when a committed relationship starts, the less likely you are to break up after the first few years, the study showed. However, that doesn’t mean that wealthy couples necessarily fare better.
How can couples avoid these problems? Honesty and communication is key. Be educated about your partner’s situation so that you can be well prepared for the future. However, many couples contemplating that next step often have trouble starting the conversation with their partner about personal finances. Many see it as a minefield difficult to navigate properly.
Money problems can wreak havoc on couples that are unequal earners, or where one partner doesn’t work, but this shouldn’t be the case. Talk about finances often, find the middle ground, and don’t be afraid of it.