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Divorce: Possible causes of financial strain in a marriage

On Behalf of | Oct 22, 2020 | Family Law

It may come as no surprise that disagreements over finances can take a heavy toll on a marriage. However, sources of monetary conflict among Maryland couples can come in various forms, some of which might not be immediately apparent. As studies suggest that similar concerns continue to be one of the leading causes of divorce, knowing how to spot potential financial concerns could prove vital to safeguarding one’s future.

According to experts, one possible sign of the presence of financial concerns involves a spouse who is overly secretive about financial habits. Such behavior could indicate that the other person might not be truthful or forthcoming about spending or saving habits. In some cases, one could even go to great lengths to hide debts from a significant other and learning of high levels of debt only after entering a marriage could prove detrimental in various ways.

Financial secrecy could also indicate the presence of issues such as poor impulse control with spending or inability to adhere to a marital budget. As those who lie about money may also fail to notify a spouse should payments on marital accounts fall behind, keeping watch over accounts and one’s credit report could also prove imperative. In some cases, financial concerns could also stem from a difference of opinion over long-term goals, and the presence of such differences could place a strain on matters.

Those who feel that going through a divorce is the best path to safeguard their futures might not always be fully aware of how best to approach the situation. Fortunately, there are attorneys who can address all a person’s concerns and provide insight on all his or her available options. Such guidance could help a person in Maryland better understand what to expect from the process and how to prepare to protect his or her interests during subsequent divorce proceedings.