More money does not necessarily mean a more stable marriage

by | Oct 18, 2018 | divorce, Firm News

It is not uncommon for Ohio residents who choose to end their marriages to cite money as a contributor to their marital woes. It can be hard to keep a relationship going when the two parties to it differ on their views of how to save, where to spend, and what to prioritize in terms of financial management. It can also be hard for couples to settle their differences when they simply do not have enough money to do what they want and need.

It may therefore seem that if a couple had more money, their marriage would have a greater chance of lasting. Research into the topic of money and divorce suggests a different outcome, though, with high income earners also finding themselves in divorce court. There are many reasons that earning more money is not a guarantee to preserving a long-term marriage.

One reason is that individuals who earn more money also tend to spend more money. A couple may earn $2 million per year, but if they take on $2.2 million in expenses a year, they will feel the stresses of financial strain. Also, individuals who earn high incomes often must put in significant hours to move their careers forward; travel and work commitments can push couples apart and can contribute to their desire to divorce.

Money is often a big issue that contributes to some American divorces. It can also be a big issue once couples are in divorce court and trying to split up their property and financial assets. Getting help with one’s financial questions can provide peace of mind for a person who has found their marriage ending in divorce.