A recent study has shown that there could be a link between how often people talk about their finances, how attractive that makes them to their spouse, and their odds of getting divorced. The study found that people often do not care nearly as much about having a physically attractive spouse as they care about having one who talks about money, knows what they are doing with their finances and generally just handles money well.
In fact, the study also noted that money is at the top of the list when people who get divorced in Minnesota and elsewhere are asked why they did it.
One interesting thing to note was that couples who got married before the 2008/2009 recession often did not talk about their money as often as those who were married after it. Those who married post-2008 talked about their credit scores 61 percent of the time, for example, while those from before 2008 only did that 35 percent of the time.
On top of that, a full 82 percent of these post-recession couples had monthly talks to look at their financial goals, but only 65 percent of the pre-recession couples were doing the same thing.
Related studies also say that 15 percent of people who separated never went to that next step and got legally divorced, with many of them citing the cost as the reason why. It is often said that a divorce can cost around $20,000.
Finances are incredibly important for those looking at a high net worth divorce, and they need to know what it will cost them and how the financial aspects of their relationship may impact both their legal rights and their relationship as a whole.
Source: Equities, “Experian Study: Talking About Finances Makes You More Attractive” Andrew Klips, Jun. 25, 2014