When one spouse loses their job, it's not just a financial strain on the marriage, but also an emotional one. A British study released late last year by the Institute for Social and Economic Research at the University of Essex found that couples who experience job loss are more likely to divorce within a year than their employed counterparts. This flies counter to other studies that have said the financial crunch slows divorces because people can't afford them--if nothing else. In this article from MSNBC, Nicholas Yrizarry, a financial planner from Reston, Va., says he sees two types of couples: the ones who are obsessed with money and material things and allow a layoff to destroy their marriage; and the ones who have a mature relationship and adversity only brings them closer. "They are the types that can live in a phone booth together and still be OK," he said.

This is a good reminder of what really matters in life. That doesn't mean that money troubles aren't real. Yrizarry offers the following steps couples should take:

1. Sit down "calmly" and discuss what your assets are.

2. Come up with a financial plan to deal with the loss of income and strategies to get a new job--or have a non-working spouse get a job. Assess your options for taking on temporary work or retraining if your skills are not marketable anymore.

3. Implement the plan.

On the emotional front, he recommends being respectful and supportive of each other and making sure not to play the "blame game." It's a time to be constructive and supportive, especially in troubled times.

Labels: advice, economy, money, real people