Financial ‘power’ and control of money in a marriage is the second highest cause of divorce, with common points of conflict being debt and impulsive spending.
One spouse having financial control over the other, or a partner hiding their financial activities from the other in ways that affect their joint financial situation, are other common reasons for marital conflict.
“Other than infidelity, financial difficulties and disagreements are the next leading cause of divorce,” says Jodi Tromp, a clinical psychologist who practises at Netcare Akeso George.
The strain caused by overextended budgets, not meeting financial responsibilities, or not having financial control and independence often causes increased anxiety in the relationship, and this can lead to blame and resentment. These two dynamics are powerful enough to end a marriage.
“Dynamics around finances in a marriage can be complex and have far-reaching impacts on the health of the marriage and the family in general. Coming into a marriage, each spouse has unconscious practices and beliefs when it comes to planning and managing their money.”
If one partner believes that strict budgeting and saving are the responsible way, and the other values life's unpredictability and spontaneity – ultimately leading to more spending, Tromp says these philosophies will eventually come into conflict.
“Financial power dynamics can also influence matrimonial harmony, where one spouse may exert control by either withholding or limiting the financial freedom of the other spouse, especially if that spouse is financially dependent.”
Furthermore, traditional patriarchal views about a woman's role in domestic financial management are changing, and women are becoming more financially independent globally.
“Unfortunately, in many households, these changes are yet to be adopted and accepted,” she says.
Financial independence for women
On an individual level, Tromp explains, financial independence for women can provide a sense of empowerment, achievement, and security. This is especially true within marriage, where men have traditionally been the breadwinners.
“Feeling empowered and secure can reduce anxiety and create a sense of safety for emergencies like job loss, for example.”
On a broader level, greater financial independence for women contributes to a more progressive society, helping to rebalance deeply rooted gender biases.
“This works towards strengthening partnerships and can reduce power imbalances, ultimately contributing to deeper marriage satisfaction.
“Working to become financially independent in a marriage, where previously one was financially dependent, requires adjustment for both partners. Practically, becoming financially independent often includes a shift in responsibilities that calls for an adjustment in existing roles in the marriage and the household.”
Adapting to the changes may initially take some getting used to as routines and roles shift, and this can be uncomfortable, she says. Clear and open communication regarding these changes though, will make the adjustment smoother.
“Psychologically, the sense of empowerment and security can provide a newly financially independent person with more negotiating power and confidence within their marriage. This can shift an existing power dynamic in either a positive or negative manner.
“Should the power dynamic shift more positively, the individual may feel personal satisfaction in being able to contribute meaningfully to the family’s finances and sharing these responsibilities with their partner. It may also sometimes happen that the power dynamic can lead to marital problems, if not navigated with honesty.”
If one partner feels they are no longer needed, or the change makes them feel insecure, Tromp says this could potentially motivate them to try to exert control in some other, more problematic, way.
“The psychological adjustment needed can be eased with open, non-defensive communication. Discussing financial habits, anxieties, and expectations can help to avoid conflict, blame, and resentment.”
The key is to calmly discuss, with open minds, one's own ideas about money and financial management, being sensitive to the differences in each person’s ideas. Create a middle ground that will bring security for both spouses, she explains.
Ultimately, this will reduce anxiety and conflict, and improve family dynamics.
“If needed, mental health professionals can assist couples and individuals with communicating their needs and finding mutually rewarding solutions to strengthen the relationship and nurture both individuals’ strengths.”
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