First, a disclaimer: I’m not a divorce attorney or a couples counselor. And I’m no marriage expert (ask my first wife). I am married, however. Like you, I’ve heard the statistic that one of the leading causes of divorce is disagreement about finances. Unfortunately, that disagreement can manifest itself in a variety of ways that can also lead to bankruptcy. I wonder if that disagreement stems from simply never talking about money and finances. Money, like politics, can be a very personal issue. Sometimes it’s easier not to talk about it than confront differences of opinion.
Of course, it’s crucial that you talk with your spouse about money and your personal finances. By talking with your spouse about your values relating to money and finances you can get a better sense of what is or isn’t important to him or her, including what he or she thinks are essential expenditures and what are frivolous. By ignoring the issue, you might find yourself in deeper debt than you ever expected. Credit card purchases accumulate slowly but can snowball into an overwhelming size.
Managing a household budget requires team effort and you should make decisions about spending together, even if that means you don’t need permission to buy certain things. I predict that once you start talking about your finances, you’ll feel a tremendous amount of relief. You won’t have to wonder any longer if you both think the same things. I’m not saying the conversation will be easy. It won’t be. But it’s the first step in getting off the road to bankruptcy.
If you’ve put off the conversation for too long, though, bankruptcy might be a way for you to push reset and get both of you on the same page. Bankruptcy can provide a new financial start and allow you to resolve your differences about your personal finances and start over. It could be the relief you need from the stress that comes from financial problems and to focus again on being a strong team.
If you and your spouse are having financial problems because of differences in how you should manage your finances, bankruptcy may be a chance for you to get a new financial start. We hope you’ll come in for a free, no-obligation consultation with an experienced bankruptcy attorney to learn more and see if bankruptcy is a good option for you. You can make an appointment using our online scheduling system or call 303.331.3403 to set a time that is convenient for you.
