Fifty-nine percent of divorcees say that finances played at least “somewhat” of a role in their divorces and 20% believe it played a "big" role, according to a study by Experian, an information services and credit-scoring company.
Those surveyed also regret not learning more about their future spouse's financial habits prior to walking down the aisle, the company noted in a
press release. A majority of both women and men — 71% and 60%, respectively — said their former spouse's spending habits were different from what they anticipated before they married.
Respondents to the online survey also noted the financial impact of divorce, with the average loss of those surveyed reaching nearly $20,000 in cash and assets. With 44% of survey respondents saying that their former spouse ruined their credit, more than a third (39%) said the financial cost of divorce leads them to believe they will never marry again. Those who may consider tying the knot again say good credit is an important quality for a potential spouse (73%).
Among the 500 adults surveyed who had been divorced within the past five years, 59% regret not being more financially independent in their marriage, 54% said their former spouse spent too much money (which was the key financial issue in their divorce), 53% said they were not financially compatible with their former spouse, and 50% said their former spouse ran up credit card debt on joint accounts.