Protect Your Marriage: Advice for Discussing Finances

Posted By The Law Office of Janet McCullar, P.C. || 19-Jul-2016

couple arguingIn a marriage, the spouses are supposed to be open and honest. This is a given. Unfortunately, there are times when certain lies can jeopardize the relationship. In an article on Divorce Magazine, Attorneys Janet McCullar and Jake Gilbreath discussed a potential form of “cheating” that can cause distrust in the relationship. We’re not talking about the physical or emotional kind, though, that people may most often think about when they hear the word cheating. We’re discussing financial cheating, the kind that most people never really talk about but it still happens quite often.

While it may not seem as bad as physical or emotional cheating, financial cheating is still deceptive in a relationship and can often cause significant arguments. There’s still secrets being kept from one of the parties. In a relationship that is supposed to be built on trust, this can be damaging, causing the two spouses to potentially get divorced.

There are plenty of marriages where the couples have separate bank accounts, but they don’t think twice about it. There’s nothing that can cause concern for some couples, but when it is all broken down, do the parties know what the other one is doing with their finances? Are they spending money on something they shouldn’t? Making purchases that put your marital property at risk? Not many people think of it in this way, but once a couple marries, regardless of individual bank accounts, funds become joint. Both parties make money that go into the relationship and they both reap the benefits.

The Austin divorce attorneys at The Law Office of Janet McCullar, P.C. have offered some tips that you should consider regarding finances in your marriage in hopes of making sure the trust in the relationship is strong.

  • Discuss your finances regularly. You and your spouse will be able to learn what purchases the other is making and what happens each paycheck. You may even be able to find ways together to save money on senseless purchases.
  • Know when individual bank accounts are necessary. By maintaining a joint bank account, you are able to do what is intended. Both parties will put into the marriage, know where the money is going, and for what.
  • Track your finances. Both partners should know what bills need to be paid, how much each person makes, and what additional expenses you will have. You can then track the spending a bit better and make purchases you know make sense. Any extra spending will be noticed by both partners.

Unfortunately, there are a number of issues that can arise as a result of financial “cheating.” It may not seem like a big deal to some, but depending on the size of the purchases, the purpose, and whether or not the spending spouse is lying, it could be a much larger issue than initially imagined. It could lead to a divorce and separation of the entire family - something that nobody wants to experience.

At The Law Office of Janet McCullar, P.C., our Austin divorce attorneys have the extensive experience to help guide individuals through divorce, no matter the situation. We take the time to listen to the details of your case and present a strong strategy on your behalf. We know how difficult this time can be, especially when one party feels betrayed. It is our goal to help our clients get through this complex matter in the smoothest, most effective, and amicable way possible.

To discuss your potential divorce and learn what options you may have, feel free to contact our firm and speak with our experienced team about your situation.

Categories: Divorce
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