Money enables people to buy many things; unfortunately, it can't buy happiness, love or a lasting relationship. And surprisingly, money turns out to be the leading cause of today's divorces.
Fifty-seven percent of divorced couples in the United States cited financial problems as the primary reason for the demise of their marriage. according to a survey conductted by Citibank.
Financial incompatibility is one way of explaining the reason money is the primary cause of divorce, says Cheryl D. Broussard, a registered investment advisor and author of the book The Black Woman's Guide To Financial Independence: Smart Ways To Take Charge Of Your Money, Build Wealth, and Achieve Financial Security.
Financial compatibility "has a lot to do with how people are raised," cites Broussard, who is a principal of Broussard & Douglas, Inc., located in Palo Alto, CA. "Women want an equal partnership, but men want to take the lead if that's how they were raised."
The corrupting effect financial incompatibility has on a marriage is compounded when couples don't discuss their financial problems.
Broussard says, People aren't discussing finances. Money is such a taboo subject. People associate bad things with money. If you're in a serious relationship, talk about this. If you don't, it will cause a huge gap."
Bonnie Fitch, an attorney from Houston, TX, who is a former associate municipal court judge, says money may be the leading cause of divorce because some couples do not unite and work together when it comes to handling their household finances.
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