Finances often top the list of issues causing conflict and dissatisfaction in marriages. A number of parents have come forward, revealing that credit card debt is creating significant challenges in their homes.
Money, money, money… it’s the leading source of discord between couples, largely due to the heavy burden of debt. Approximately 40% of households in America are grappling with consumer debt, which can include everything from student loans to car payments and credit card bills. On average, those who use credit cards hold a debt ranging from $5,000 to $7,000, which is causing friction in numerous relationships, as shared in our Confessional.
Research indicates that consumer debt can negatively impact marriages, particularly when couples frequently argue about finances. A study involving over 4,500 married couples revealed that those accumulating debt over time were more likely to face divorce. Furthermore, couples with higher debt levels reported more frequent money-related disputes and decreased marital satisfaction.
“My partner insisted on managing our finances, but he’s terrible at it. I discovered we’re drowning in debt. Enough is enough—I’ve taken charge and started paying off the credit cards. Paying just the minimum is foolish!”
—Confessional #25794043
“If my partner and I ever separate, it won’t be due to infidelity, abuse, or parenting clashes. No, it will be because he handles finances like a teenager with a credit card. I refuse to be financially burdened because of him!”
—Confessional #25767203
“We’re so deep in credit card debt that we barely make ends meet, living paycheck to paycheck due to minimum payments. I feel so foolish.”
—Confessional #25246047
The allure of credit cards can be overwhelming, especially when approved for a card with a healthy limit. During times of financial strain, many people find themselves relying on credit cards out of necessity.
“My partner has 15 credit cards, can’t keep track of which statement goes with what, and then gets upset with me because he can’t figure out the points system. If he applies for another card, I’m out!”
—Confessional #23999828
“I just got my bankruptcy cleared and managed to obtain credit cards again, but now I’ve fallen into too much credit card debt once more! What’s wrong with me?! I really hope I can pay it off this time.”
—Confessional #21881809
“My partner called me ‘negligent’ for letting my credit cards fall behind. Did he think I could live off a $40k pay cut as a stay-at-home mom? He constantly complains about me not working, but didn’t he think I’d need some of his salary to get by?”
—Confessional #20956912
The study found that accumulating credit card debt correlates with lower marital satisfaction, while paying off debt is associated with higher satisfaction. Couples dealing with debt often find themselves fighting more, spending less time together, and feeling a sense of unfairness regarding financial management in their marriage—leading to more arguments.
“I cleaned out the mountain of paperwork my partner had in the dining room and discovered a stack of credit and debit cards. He claims he never saw them, but I don’t open mail addressed to him. He just shoves everything aside for later.”
—Confessional #20680535
“Someone please intervene! Take away my cards! I can’t stop buying Uggs!”
—Confessional #19906558
“My partner is 40 and unemployed while I work full time with overtime every week. Our credit cards are maxed out at over $50,000, and now he wants to go to grad school next fall. Sure, and I want a unicorn. I wish I’d said that aloud.”
—Confessional #19305070
While some couples manage to devise a debt repayment strategy that works for them, others struggle, resulting in significant drama in the Confessional.
“Maybe one day I won’t need to rely on credit cards for essentials like food.”
—Confessional #18804020
“I associate middle class with entitlement. People think they deserve to spend Y because they do X, even if it means maxing out credit cards or treating home equity like an ATM.”
—Confessional #18479962
“My partner and I are nearly $100,000 in debt from student loans, car payments, and credit cards. Just thinking about it crushes me to the point of nausea. I have no clue how we’ll pay it back.”
—Confessional #17590322
Sending out positive thoughts to everyone facing similar challenges. 2020 has been a tough year; the economy is struggling, and financial situations are tight. Remember, you’re not alone, and you’re doing your best!
For more insights on similar issues, check out one of our other posts at Home Insemination Kit. Additionally, if you’re looking for ways to boost fertility, visit Make a Mom. For comprehensive information on pregnancy and home insemination, Healthline is an excellent resource.
Summary
Credit card debt is a significant factor contributing to marital discord, with many couples struggling to manage their finances effectively. Research shows that high levels of consumer debt correlate with lower marital satisfaction and increased conflict over money. While some couples can create effective repayment strategies, others find themselves in a cycle of debt that puts immense strain on their relationship. It’s crucial for couples to communicate openly about finances and seek solutions that work for both partners.
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