As the month associated with cupids, hearts, and love wraps up, some thoughts on the importance that keeping your finances in check can have on relationships… While many people refuse to admit that money can have an effect on relationships, the truth is that money matters!

Few people think about how bankruptcy and financial relief tie into all this, but fixing financial problems can keep a couple together.

Multiple studies have shown divorce filings rise as much as 40% just after Valentine’s Day. Other studies show that the major cause of divorce is financial infidelity. These two phenomena may not be mutually exclusive.

Why February? If your New Year’s Resolution was to split from your spouse, it may take you a month to prepare your filing. The promise and amount of a year-end bonus or pay raise can delay a marital decision. Many people don’t want to file for divorce during the holiday season and February is their first option. The impending tax season and the inherent benefits of filing singly or jointly can enter in to a decision to split up. And finally, in a rocky relationship, how much effort your spouse puts into February 14th may be the tipping point that decides whether you break up or stay together.

There is no good time of year for a marriage to break up. And Valentine’s Day, with its hearts, cupids and candies, may be the most poignant time to enter into such an action. We in the insolvency community know that financial problems and marital problems often go hand-in-hand. Solving the financial problems sometimes keeps a marriage together.

As this annual time of hearts and flowers wraps up for another year, perhaps it’s time to take an honest look at you and your spouse’s finances. If problems exist, consult with an insolvency professional to see what can be done to alleviate financial stress. It may be the greatest Valentine’s gift you can give. It may save your marriage.