Money is tearing couples apart

by Michelle McDermott on January 6, 2014

Michelle McDermott

Having worked in the family law area for more than 25 years, I like to think I've got a fairly good grasp on what makes couples' relationships succeed or fail. When it comes to the latter, my personal view has always been that it comes down to two basic reasons – money and/or sex.

Recent research from Relationships Australia, however, reveals that the two top reasons couples split are money and communication, with money the number one offender. According to the report, 7 out of 10 respondents indicated financial problems were most likely to cause a relationship break-up and 26 percent said financial stress had already broken theirs. Why is it, then, that money plays such a major role in the breakdown of couples relationships?

One reason may be that for many of us, talking about money is strictly taboo! But, that general proposition shouldn’t prevent us from talking about it with our partner. If your partner can see you at your fabulous best first thing in the morning (together with accompanying morning breath), why is it so hard to talk about finances? Yes, you do need to fess up and disclose how much you spend on shoes, travel, electronic gadgets, etc. (well, maybe not shoes!) and see if you can come to a compromise about each other’s spending. In a harmonious partnership, it does not matter who earns more than the other – you are a partnership and work towards common financial goals.

If you are concerned that money may be causing problems in your relationship, the family law team at Armstrong Legal are here to provide you with appropriate advice.

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