Credit Card Debt May Be The Leading Cause of Divorce

Financial stresses are among the top five reasons couples divorce
 
 
April 6, 2008 - PRLog -- Have too much credit card debt? It may possibly be the leading cause of divorce. In time, debt has a way of creeping up on consumers. Financial problems and stresses are among the top five reasons couples divorce. Although living debt free may not guarantee a completely stress free life and marriage but it is a great start.

Let’s look at the Six Financial mistakes couple make;

1. Merging Finances
2. Having too much personal debt before getting married
3. Disagreement on spending and saving
4. Not investing wisely/No retirement
5. Not letting the spouse know about unnecessary spending
6. Not planning for Emergencies

While we are not completely opposed to not merging finances, the best way is to have some autonomy money, but unless couples are both comfortable with the idea, there is no need to rush things. Couples should also find more about their significant others personal debt and spending habits before tying the knot. This would also be a good reason for not merging accounts considering the spouse will also become responsible for the debt.

It is all too common that couples disagree on what monies need to be saved and spent. We all have different points of view about money and often times find ourselves asking about retirement after it’s too late. Couples should review their retirement and investments together at least once a year and make sure that; overall, each other’s portfolios balance each other out. Couples should also let each other know about unnecessary spending, “I have husbands call me and tell me they did not know they were in debt until a few days ago”, says one of the debt consultants over at VisionDebt.com.

Even if consumers and couples have great careers and are comfortable and make a steady flow of income, couples could still find themselves unprepared for an emergency. An unexpected lay off, accident or illness, anything could knock someone off his or her financial track. Simply knowing that there is three to six months worth of living expenses held in a safe place can greatly reduce stress.

If couples or consumers are struggling financially and thinking about declaring bankruptcy or thinking about divorce, VisionDebt.com, a premier debt settlement company, is now offering a free debt analysis and consultation to consumers and couples to help alleviate financial stress. VisionDebt.com is able to reduce debt in most cases by 50% and will help consumers become debt within 12-36 months. To sign up for a free consultation, consumers may visit www.VisionDebt.com or call the Vision Debt hotline at 1-877-501-DEBT
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