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The major impacts of financial habits in divorce and marriage

On Behalf of | Jun 29, 2017 | Divorce |

Many things can impact how life after divorce improves for a person here in Texas. This includes finance-related habits. For one, habits related to spending, budgeting, debt and other financial matters after the divorce is finalized could have major implications regarding how realistic post-divorce financial goals turn out to be.

Also, the habits and practices in which a person engages during the divorce related to the division of marital property and other financial issues connected to the divorce can be very important. Among the things that could help with keeping one’s practices and habits in-line with one’s overall best interests when it comes to such matters is having accurate information and quality legal guidance when making decisions related to such matters. Having knowledgeable expert legal representation can be extremely important when a person is going through a divorce.

A person’s finance-related habits can not only have impacts on their post-divorce financial situation, but also on their likelihood of ending up in a divorce to begin with. Financial stress between couples is one of the most frequent causes of divorce. There are a variety of bad financial habits which could end up triggering financial disagreements, including bad habits related to:

  • Credit management.
  • Debt.
  • Gambling.
  • Investing.
  • Shopping (a/k/a “retail therapy”).
  • Excessive Gifts to relatives, paramours, etc.

So, whether a person is entering the divorce process or trying to maintain a marriage afloat, being mindful of one’s financial habits can be critical, and if divorce is a likely option, the advice of a professional Board-Certified expert family law attorney can be a worthwhile investment.

Source: AOL, “The 5 financial habits most likely to lead to a divorce,” June 19, 2017