GOLDEN VALLEY, Minn. -- There are a number of factors that lead to divorce. However, fighting over money seems to be one of the most common predictors of divorce in married couples.
Nicole N. Middendorf Certified Divorce Financial Analyst and CEO of Prosperwell Financial has worked with numerous married couples on their finances and has seen the disagreements that arise first-hand.
Middendorf has come up with a few financial mistakes you should avoid to keep your money fights at a minimum.
1. Hiding Money - The habit of keeping any secret in a marriage can be destructive.
2. Thinking you know everything about money - Not seeking ways to improve your knowledge of money, saving and investing may have you making unwise decisions.
3. Not living off your budget - Operating without a budget may leave you and your marriage stranded.
4. Spending more than you earn - debt freedom is a dream that very few couples achieve.
5. Not agreeing to spending thresholds - avoiding discussing this may lead to hidden money, secrets and stress when it comes to spending money.
6. Not having an emergency fund - if you don't have it set up to handle emergencies, an argument could commerce.
7. Not discussing money with your kids - Not clarifying money matters with them may create an atmosphere where they play one parent against the other.
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