Tag Archives: Marriage and Finance

Is there more to a marriage than love? It’s not surprising that many couples stay together when the love fades for financial reasons. This practical approach to marriage can stop people falling into debt and don’t forget that married people are much more likely to avoid depression and live longer than their single counterparts. I’ve been reading some debt news articles about relationships and debt which prompted me to write today’s article.

Stay together for financial reasons can make perfect sense considering what could be at stake. So what are the pros and cons?

Children, not only do you give them emotional stability by staying together but also the financial stability to allow them opportunities and open doors that otherwise would not be available to them. Staying together means you don’t waste your money on solicitors, accountants and estate agents, which may come heavily into play for couples that have lots of assets. There is the question of how much you are willing to sacrifice, maintaining your present style of living and not feeling financially restricted can be a major factor in staying together as getting use to living below your means is difficult and will put a huge strain on you and your children.

You need to ask yourself how much will you stand to lose, if you do all the number crunching and the amount won’t create a major financial meltdown then there is no reason to stay married if the love’s not there. If you have substantial financial assets that you have built together such as houses, cars, stocks and bonds as well as retirement funds and insurances that are registered in both you names then you may want to think twice before you call you solicitor for those divorce papers. A separation may be the way forward if you both stand to lose out big-time as a divorce is permanent and may require the 50-50 splitting of your assets whereas a separation involves a different set of financial rules.

Ask an accountant to do all the sums for you and check the financial burden if there were a divorce as it’s not only the splitting assets but also the tax implications. Young couples do not carry so many assets so separation or divorce is far easier as there is far less financial worries involved and they have the time to start building up their finances again however older couples have a far more substantial portfolio so would stand to lose far more.

Staying married when you can’t be lovers is easy as long as you remain good friends and pursue your own dreams and interests, money is far easier to negotiate when your are friendly with each other.

Most people would frown on those staying married for the money but should they one day find themselves in the same situation they may have second thoughts.