While divorce rates hover around 50% for first time marriages (and higher than that for subsequent unions), the reasons for splitting up often center around finances. Disagreements over what to spend and how much to save are often blamed for the failure of a relationship.
But finances play another role in divorce, too, according to a recent report in Barron’s. A change in financial behavior might signal that divorce is on the horizon.
Things to look out for?
· Account statements, tax returns or other financial documents go missing.
· A spouse who has been hands’ off with finances suddenly taking an interest in household money management.
· One spouse suddenly acquiring new credit lines.
· Statements from unfamiliar financial institutions begin to arrive, or passwords to existing ones are suddenly changed.
· Changes in the contribution amounts to retirement accounts without explanation.
While these signs don’t always point to divorce on the horizon, they do at least merit a frank discussion between spouses.