How the Economy Can Affect Divorce Rates

 Posted on December 00, 0000 in Divorce Finances

While a marriage or divorce is often the result of a combination of emotional factors, it impossible to deny that finances play a major role in both. In marriage, tax benefits are generally available for both spouse, and the idea of combining two incomes is often a motivating factor—especially for younger couples looking to make ends meet.

Similarly, divorce also effects requires a number of financial changes and places economic demands on recent ex-spouses who must adapt to living on their own. It is little wonder that health of the national economy can be an influential force when it comes to keeping a marriage together or tearing it apart.

Money Matters

It may seem logical to assume that struggling economy would make life more difficult for married couples, creating added stress and pushing them toward divorce. In reality, however, the opposite seems to be true. Tough economic times tend to affect everyone in certain ways, but statistics suggest that a recessed economy actually keeps couples together rather than driving them apart. For some couples, this may be a result of trying a little harder in difficult times. For others, however, the question is simply one of money.

Legal and financial experts seem to agree that when the economy is suffering, the idea of getting out there on your own, with only one income—if that is even guaranteed—is simply too much of a risk. Instead, it seems that many couples choose to deal with the stress of a failing marriage rather than take the chance of ending up in a dire financial situation. Marriage—even a bad marriage—can be a financial haven, especially for those whose households depend on a combined income or whose spouses provide medical insurance.

Money, Marriage, and Divorce

As the economy has slowly rebounded over the last few years, divorce rates have also started to trend upward. This seems to be an indication of how financially powerful a marriage can be. Even those who go into a marriage with the highest of hopes for a happy life—as most newlyweds do—should consider the current state of the economy as well as their own financial situation.

If disputes over money have driven you and your spouse to the point of divorce, an experienced DuPage County family law attorney can help you decide on an appropriate course of action. Call 630-409-8184 to discuss your case with a member of our team today.

Source:

http://www.npr.org/2011/02/10/133631484/for-some-couples-economic-indicators-say-split