When it comes to the reasons that couples file for divorce, the oft-repeated leader is finances. But what does that mean? There are so many different aspects of the “financial argument,” and they usually get grouped under the same umbrella. Well, luckily, there is a new study that seeks to break this down even further and assign practical points of contention. Here are the Top 5 Drivers Of Financial Arguments In A Marriage.
5. Insufficient Retirement Savings
Yes, it seems that 22 percent of couples argue about having insufficient retirement savings. The fear and uncertainty that one might have to “work until they die” is the primary motivator for aggression, and it can lead spouses to part with the thought that life would be easier if their partner wasn’t dragging them down financially.
4. Insufficient Emergency Savings
Around 25 percent of respondents said that lack of emergency funds led to frequent arguments within the marriage. Couples fight and are more likely to file divorce papers if they don’t have the extra money to pay for that new set of tires or braces for the kid — in other words, they’re living paycheck to paycheck.
3. Credit Card Debt
This is a close second at 26 percent, and it’s easy to see why. It’s easier to conceal credit card purchases, and it’s even easier to let them get away from you since you’re not out anything at the time of purchase. However, when the bill comes due, if you can’t pay it off at the end of the month, you’re likely to get locked in to exorbitant interest payments.
2. Household Budgeting
About 33 percent said they argued over not sticking to (or creating) a household budget — coincidentally, the above three issues often stem from failure to do this one thing.
1. Frivolous Purchases
Boats, motorbikes, all-day shopping sprees — all of these factors are what couples argue about the most. Frivolous purchases commanded a whopping 46 percent of the issues that couples faced when dealing with financial arguments. That’s 13 percent higher than number two and about two times numbers three, four, and five.
Lesson: you can avoid most of the financial arguments that lead to filing divorce forms simply by avoiding frivolous purchases and living by a budget. If you do that, the rest will fall in to place.