May 18, 2011
Schwarzenegger and Maria Shriver announced last week that they are getting
a divorce. This week we discovered that Schwarzenegger's confession of
fathering an out of wedlock child was the primary reason for the couple's
stated "this is a painful and heartbreaking time" as she
moved out of their family home and into a hotel while the couple works on
their next moves. No one is exactly sure what the next move is for
the couple, but one thing for sure is that considering their celebrity and
financial position, splitting up their assets will be an issue.
How can marriage and divorce affect your finances?
Marriage and divorce are two very important topics when it comes to your
economic stability. Of course you marry for love, but marriage is also an
economic union. Where there was one person in one household, there is now
two. Where there was one income and set of resources coming into a
household there is now two. Two people contributing to building the economic
security of the home most often brings compounded results. 1 + 1 = 3 or more.
Both individuals and the family benefit from a higher standard of living
when all members of the new family contribute to the benefit of all.
Of course divorce destroys the 1 + 1 = 3 formula and too often breaks it
down even further than the original economic starting points of both
Mental clarity = financial prosperity
One reason also explains why a positive marriage is good for economic
health and why divorce can be so economically destructive. That reason is
mental focus. When you have a strong foundation at home you are free from
many stresses that would otherwise hinder your focus on positive
endeavors. The stress of breaking up and divorcing does the opposite. It
weighs you down and distracts you from making the best choices. When you aren't thinking straight you are vulnerable to making
poor financial decisions that can affect you for long periods of time.
A great investing tip
Want an easy tip to strengthening your financial situation? Invest in your
marriage or partnership today and watch your economic strength grow.