The Impact of Marriage and Divorce on Your Finances

Posted by Madison on October 8, 2008

We joined Costco. And I’ve only been there 5 times in 8 days! Thanks for all your suggestions; we knew exactly what to look for. Now I just need to get my True Earnings Credit Card for Costco and I’ll be all set.

Also on my checklist for today is tuning my TiVo for a couple upcoming shows:

Oprah. Tune in to Oprah today! Supposedly the guest is one of the “thriftiest families in America.” In addition, viewers across the country will share their money-saving secrets. I’ll check it out and report back if I learn anything new.

Extreme Makeover: Home Edition. On Sunday, the house will be one from our area. (Actually it’s in a rural area an hour from here). It was all over the news when they rebuilt it and I know a few people who volunteered.

Marriage and Divorce

This past weekend we attended a wedding for some friends. It makes me think back to our wedding day in 2003 and think about how wonderful it was. In the same weekend, we also heard about a family member who is filing for divorce and will probably spend a lot of time in court fighting over both custody and money. Both of these events have a significant financial impact on your finances.

Divorce – A Wealth Killer
I hope my husband and I never have to deal with this. Divorce is a financial nightmare. If you are facing this, here are some tips.

Combining Finances When Getting Married.
They combined all their money. We did the same. For the most part it works for us.

Joint Accounts: How We Budget Deposits and Withdrawals
A couple who uses the proportional budgeting method.

Marriage and Careers in a Bad Economy
Lots of marriage money articles for those of you tying the knot.

Why Cash Offers More Flexibility Than Gift Cards
What to give the new couple? Think twice before giving a gift card.

Debt Reduction

Five Tips for Reducing Your Debt
Breaking it into small pieces will no doubt make the task more manageable.

Back To Basics: Debt-Free Is The Path To Financial Success
Debt myths revealed and the advantages of being debt free.

3 Different Debt Payoff Strategies
Want to know where to start? Here’s a few choices.

Get Out Of Debt – It Isn’t A Race
Pace yourself and in the end, you’ll be more than proud of yourself!

The Bailout

It wouldn’t be right without our obligatory nod to the financial world around us:


More articles I enjoyed this week:

Finally, Loanio Launches!
There’s a new peer-to-peer lender in town. I currently use Prosper so I’ll be interested to hear more about Loanio, which allows co-borrowers.

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Comments to The Impact of Marriage and Divorce on Your Finances

  1. So true about divorce being a wealth killer. My grandparents divorced in their 50s (well over 30 years ago) and both passed with pennies in their portfolios. It was sooo sad. 🙁


  2. Thanks for the mention. I imagine divorce would be a wealth killer, but if you really don’t like each other I suppose the money wouldnt help anyway. 🙂


  3. Divorce is a losing proposition all the way around. I think divorce is a lot like bankruptcy, it should be a last resort when no other viable alternative exists.

    Thanks for including my back to basics article on the advantages of being debt-free!


  4. We are just starting to process, the unexpected divorce of my husband’s parents after 50 years of marriage.
    They split up in their 70’s for gosh sakes – I just don’t get it? They had a lot of real estate assets that they fought like cats and dogs over.
    Long story short …
    The lawyers are over 30k richer and my in-laws finances are a mess.


  5. Great collection of posts. Debt reduction is a huge step whether you are single or married.


  6. Thanks for the mention. 😉

    Marc and Angel Hack Life

  7. Thanks for including my article 🙂

    The Passive Dad

  8. Thanks for the mention! And you are so right about divorce and marriage impacting personal finances. Sometimes we get so caught up in romantic notions that we forget about the practical side of choosing a partner, and how a mistake can cost us both financially and emotionally.


  9. @ Dawn: Wow, 50 years of assets. I’m sure that is a huge mess to sort out!


  10. I got lucky in my divorce – lucky to be out of a horrible relationship and out of $100,000 of bad debt my ex ran up. It actually boosted my finances and my credit score *whew* but I had a LOT of sleepless nights during the whole process.

    Amber Weinberg

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