Financial difficulties and accompanying stress are the leading causes of divorce. Almost all marriages go through financial problems, but is divorce the solution? I do not believe it! My belief is that if you and your spouse can get over all those debts and all those bills, the process will really improve your marriage.
Divorce is also the number one reason people file bankruptcy. Big debt can certainly break your marriage, but what benefit can a divorce have on your finances? Many couples don’t even discuss money issues, plan a budget, or cut down on savings. Why would divorce be the answer to this communication problem? A divorce can be costly and therefore will push you further into debt. But the most costly part of the divorce process will be losing the love of the person to whom you promised to remain loyal and dedicated. Their wedding vows included “for the richest, for the poorest,” not “for the richest and richest.”
You need to catch money problems early and attack them together to avoid disaster. Throwing rocks, belligerence, and yelling at a spouse does nothing to eliminate financial stress and instead takes the focus away from solving the problem at hand. Don’t let your debt control your life; step up and take control of your finances. The key is to work together on a realistic and reasonable budget based on the goals that have been set. Track your spending and take your money further by sticking to this budget once it’s in place. You will have a step-by-step formula to determine the most important place to use your money. You can then determine what expenses you can reduce or hopefully eliminate.
Start a savings account. I have a habit of telling my clients to open a savings account on the other side of town. The reasoning behind this is: the temptation to withdraw funds will not increase for convenience. Even better than that, use an automatic withdrawal system to set aside a pre-designated amount from each paycheck. The best strategy is to test it with a small sum up front, then increase the amount periodically for as long as possible. Unexpected bills and emergencies are inevitable. It is good to be financially prepared for them by keeping some money.
Use wisely the money that Jesus has blessed you with, as he does not want us to be slaves to debt. We must trust God, because he knows what we can handle. He will continue to bless us with more if we prove to be smart and capable of managing his prized possessions. When we play with possessions and blessings that have already been given to us, the Lord usually takes them away.
Don’t panic about financial stress. Don’t assume that blaming your spouse or even contemplating divorce is the answer to the crisis. Sit down together, take a deep breath, and pick up that notepad to put problems in writing. To determine your needs, visualize your situation. Call your creditors and talk to them about tough situation programs. Take a part-time position to help him.
Contact a credit counselor who can help you make better financial decisions from now on. By seeking the advice of a professional, you will share the burden of overcoming your financial problems. Facing them alone will make things more challenging and expensive.