Money is an ordeal for most couples. However, finances with remarried couples present extra problems, primarily because divorced pairs often have a hard time disentangling their finances from ex-spouses. In addition, alimony and child support are two of the areas where divorced couples’ finances cause challenges. A therapist shared: I have heard countless stories from men and women who complain about the new spouse’s financial struggles with the ex. Some of the most common problems include late child support payments, medical bills, business asset division, the selling of the home or other assets, and hidden money. Since divorce is often linked to financial problems, many divorced people end up going through bankruptcy. This, too, can cause resentment in the new relationship because of bad credit and (sometimes) outstanding financial obligations. Before remarrying, it is absolutely essential that you and your new partner discuss finances. Being completely open and honest about debt, spending habits, alimony, and child support payments will help you. If you understand each other’s finances and know what you’re getting into before you get married, you are much more likely to foster a team approach. You can be creative in your solutions.

Posted in: Divorce Recovery at 11:56 am