Is Your Spouse Wrecking Your Finances?

 Posted on September 28, 2018 in Divorce

Here in the state of Illinois, divorce rates have steadily declined since the 1990’s. Still, hundreds of Illinoisans make the difficult decision to divorce from their spouse, every year. Nationwide, thousands of Americans get divorced on an annual basis. These divorces can be brought on by infidelity, unhealthy parenting dynamics, and a lack of love for the spouse. Yet, in many cases, the decision to pursue a divorce is considered due to one issue: the reckless and irresponsible spending of a spouse.

Staying in a relationship with a partner that recklessly spends money, can ultimately compromise the financial security of you and your family. If your partner, is behaving in a financially reckless manner, it may be time to consider contacting a divorce attorney.

Signs That Your Financial Health Is At Risk

Understanding when it is time to make an emotional relationship change based on financial security can be challenging. It is important to know when to get out of a financially reckless relationship before it is too late. If your partner begins making decisions that impact your savings or retirement, is spending large quantities of money without consulting you or is lying to you about the landscape of your financial future, it may be time to consider a divorce. Making the decision to remove yourself from a relationship based on finances, can feel cold, but after all other avenues have been explored, a divorce may be the right, and only, option.

Conversations To Have Before Divorce

If your partner is compromising the health of your financial future, it is time to face some difficult conversations. Even if you do not want to pursue a divorce, it is time to ask some key questions. Who should have control of our finances? Who should be paying the bills? Is this situation tenable? How much of this is my fault? Answering the most difficult questions can help spouses understand where to turn next. In some cases, financial independence is the only option in ensuring a vibrant and sustainable financial future.

Consult With a Will County Divorce Lawyer

Here at the Stogsdill Law Firm, P.C., our team of attorneys know how emotionally challenging the divorce process can be. Our team is dedicated to helping you and your family deal with the emotional aspects of your divorce, while also helping you ensure the health of your financial future. To set up a consultation with a DuPage County divorce attorney, call us today at 630-462-9500.

Sources:

https://www.statista.com/statistics/207150/divorce-rate-in-illinois/

https://money.usnews.com/money/personal-finance/articles/2015/11/12/what-to-do-when-your-spouse-is-sabotaging-your-finances