If you and your spouse have the same poor money management habits, you will almost certainly end up in financial difficulties but not necessarily divorce court. On the other hand, when one of you is good with money and the other is a chronic no-budget, over-spender conflict is inevitable and that could be a big factor in the end of your marriage.
DivorcedMoms writer Mandy Walker interviewed Sue who shared that she never learned how to manage her money having been supported first by her parents and then by her husband. Since her divorce, driven by the fear of becoming a bag lady living on the street being unable to support her son, she’s transformed her relationship with money but not without having to first confront bankruptcy.
From: Mandy Walker
While money itself may not be the cause of a divorce, a fair number of women I talk to say that differences in money management or philosophy about money were a factor in their divorce. That was true for “Sue” who was married for three years and has been divorced now for four years. She says since her divorce, she has gone through a process of absolutely transforming her relationship with money.
“I understand now quite a bit more about what went wrong with the marriage. Just the way I am around money is just completely different and it’s a much healthier relationship altogether.”
I’ve known Sue for a few months now and when she told me she would share her money story for my blog, I never expected to hear this. Nor did I expect to hear what it was that finally made her decide to change. Listen to Part I and Part II of the audios to find out what resources helped Sue turn her life around. She now has more money coming in than going out each month and runs a successful business . She has every right to be proud of her accomplishment!
Click below to listen to more about Sue’s healthier relationship to money in these two great audio segments:
Listen to Sue retell what was at the root of her money problems:
Listen to Sue share what resources helped her turn her life around:
What were the differences in the way you and your ex approached the household finances?