Money Math In Marriage

Couples typically do not discuss money before marriage. Matters related to prior debt, future responsibilities or expenses could create lack of trust, even leading to a divorce

- LARISSA FERNAND

I was recently going through the survey results on divorce in India, conducted by 1 Finance, a financial advisory firm. The sample size consisted of 1,258 individuals residing in Tier 1 and Tier 2 cities in India. A balanced representation was given to male and females, and the respondents were from diverse professional and educational backgrounds. The common factor was that either they were divorced or in the midst of divorce proceedings.

Now obviously, there could be multiple reasons for divorce. However, I shall restrict myself only to the monetary ones.

Before couples get married, they discuss numerous issues—whether to have children, and if yes, how many, and the timeframe for starting a family. Which city to live in, and if they have any aspirations to migrate. In-laws residing with them is another issue. It never fails to amaze me that financial discussions are completely overlooked. The excitement of the wedding and the magic of the honeymoon will wear off quickly, leaving you with stark reality.

No one is asking you to draw up a prenuptial agreement, but surely there are issues that must be faced.

Ignoring fiscal issues or sweeping them under the carpet can cause deep fissures in a marriage. According to the survey, fights over money were commonplace. At least once in 15 days there were financial arguments (64 per cent of the females and 75 per cent of the males said so), and the number shoots up alarmingly when it comes to once a month (89 per cent and 93 per cent, respectively).

Can you imagine the discord in the house because of this? And is it surprising that it will eventually lead to a breakdown in relationships? The survey mentioned 42 per cent of men stating “financial issues” and 43 per cent of women citing “financial disparity” as the cause of their divorce.