As many couples in Colorado likely realize, tax day is right around the corner, and some of these couples may have already started or even finished their taxes. According to accountants and financial advisors, tax season can be a rough time for many couples, especially if they are in the process of getting a divorce.
According to numerous studies, disputes over money can be the reason couples often seek a divorce. Some professionals say that tax season is the only time couples look at their finances in detail. As a result, this can lead to arguments and finger pointing. It is no wonder this time of year can be difficult for married couples.
Although tax season can be divisive for numerous couples, it isn’t the only time of year that money can put a rift in a couple’s relationship. According to an American Institute of Certified Public Accountants survey, couples in America have around three arguments per month about money. These arguments are most often disagreements on wants and needs.
There are some ways to proactively and retroactively deal with financial infidelity so that it does not ruin a relationship. According to two financial planners known as the “Money Couple,” everyone falls into one of five money personalities. When couples are dating, they often tend to be attracted to an individual with a very opposite money personality. However, once the couple marries, it can lead to the downfall of their relationship.
It is important to understand the money personalities of both partners and realize that not one is correct all of the time. In addition, it is important for couples to respect each other’s perceptions and viewpoints on finances. Finally, it is important for couples to review their money situation and the roles they play together. It can also be helpful to seek the assistance of a financial planner.
However, sometimes dealing with money and potentially other issues is just too much and these disputes lead to the end of a marriage. In these situations, emotions often run high and the situation can become very heated very quickly. It is often helpful to hire a divorce attorney who can help to work through property division, child custody, alimony and all the other questions and issues that arise throughout the divorce process.
Source: silive.com, “Money: The root of marital upheaval,” Elise G. McIntosh, March 19, 2013