Finances and Marriage – Its an Issue - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Finances and Marriage – Its an Issue

Finances and Marriage – Its an Issue

Finances and Marriage – Its an Issue
Tags: , ...
The content is accurate at the time of publication and is subject to change.

Finances can play a very real role in divorce, but it can also have a profound effect on a couple’s financial health after divorce papers have been signed and put away, according to a new national study by Experian.

How much of an issue? For 59% of people finances were at the very least somewhat a factor in their divorce, with 20% saying in was a big factor. What about credit scores? Do they stress out relationships? For 36% of people the answer was yes.

Talking is the key to getting these kinds of issues under control. “It’s important for couples to discuss finances before saying ‘I do,’ and to communicate frequently. Couples should also make sure they agree when it comes to financial practices such as budgeting and how to utilize credit throughout the marriage,” says Rod Griffin, director of public education. “Individually, each partner should make sure to be engaged with the household finances so they can protect themselves and their assets if the relationship ends.”

Wishing they had the talk before saying “I do”

Having the talk about finances, credit score and money habits before getting married can make a big difference, with people in the study saying they wished they had the talk before walking down the aisle.

And for some when the honeymoon was over there were some financial surprises coming their way, especially when it comes to spending trends with 71% of women and 60% of men saying that their partners spending patterns were not what they expected.

Spending was a clear issue for many with 54% saying that their spouse spent too much, and that the spending was a factor in their divorce. And 53% indicate that they weren’t financially compatible with their partner. Half said their partners were running up the tab on their joint accounts.

Money fallout from divorce

When it comes to divorce finances can really feel the burn as much as their hearts, with couples losses totaling just about $20,000 when looking at both assets and cash. The financial fallout was not just about joint credit, with 44% of respondents indicating that their own credit was ruined by their partner.

For some the money issues cut so deep another marriage was off the table, with 39% indicating that they will never tie the knot again due to the losses they suffered. Of those who may well give it another try, 73% said that good credit is now on the list when considering a new partner.

This study was conducted for Experian by Edelman Intelligence, and took place between November 2 and 15, 2016. They spoke with 500 adults who had been through a divorce over the last five years. Participants lived in the U.S. and were over 18 years of age.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Greenhouse by Wells Fargo is coming
Greenhouse by Wells Fargo is coming

Posted: November 13, 2017

Greenhouse by Wells Fargo is a new app the bank is gearing up to launch next year, designed to boost a user’s level of financial health. The app is a combination of personal finance management tools and Wells Fargo banking capabilities…. Continue reading

Finances Looking Up, and Saving is Trending for 2017
Finances Looking Up, and Saving is Trending for 2017

Posted: December 22, 2016

This the season for resolutions, which has lots of people looking back so they can move forward. Things are looking brighter for many, with 45% of people saying that they are better off financially this year than they were in 2105. Continue reading

Experian Takes Aim at Financial Literacy
Experian Takes Aim at Financial Literacy

Posted: April 06, 2017

April is Financial Literacy Month, and Experian is on board, having joined with Jump$tart Coalition to celebrate and “Creating a Financially Literate Future” is the theme for the month. Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
The Citi Rewards+℠ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
For Excellent, Good Credit
Earn unlimited 1.5% cash rewards on all purchases.
For Good, Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!