Will unnecessary spending lead to a divorce?

| Mar 3, 2021 | Divorce |

Financial concerns rank very highly when looking at why divorce happens. Often, it’s simply because the couple disagrees on how to use the money they have — he wants to spend, she wants to save, for instance — or just that the family does not have enough to make ends meet. 

When considering this, it’s important to think about the role of unnecessary spending in your marriage. For those who struggle to balance their budgets, financial experts say that this is one of the most common issues they see. People simply spend money that they do not have on things they do not need. This creates financial stress that ends marriages. 

Examples of unnecessary spending

Unsure if you’re spending unnecessarily or not? Here are a few common ways people do it:

  • Buying a home they can’t afford
  • Refinancing that house too often
  • Making many impulsive purchases
  • Only paying the minimums on credit cards
  • Spending on expensive habits, like excessive drinking
  • Buying items as a source of emotional comfort
  • Continuing to pay for memberships that go unused
  • Buying expensive items to keep up with the neighbors

For instance, someone may insist on driving a luxury car that costs $1,000 a month when they really only need a used car that they could buy for cash. Over time, all of these things take a toll. 

If you get divorced, consider your options carefully

If spending habits and financial issues do lead to a divorce, be sure you look into all of the options that you have. You want your financial future to be more secure than your present, and that starts in divorce court.