Divorce Rate Affected by the Bad Economy
Posted by Divorce Network, March 2010
In a bad economy, some find divorcing is much more difficult than it normally would be. Because many middle-income people are just barely getting by as it is, adding the financial stress and strain of a divorce makes separation almost impossible.
Getting divorced generally means establishing two separate households on two separate salaries.
The financial implications of a divorce: two houses, two sets of utilities, additional child care costs, and possibly having to buy another car on a single income – can make the choice to divorce undesirable at best, even in a bad marriage.
Many couples are turning to separate bedrooms rather than separate houses until the bad economy begins to improve. Although this may be nearly impossible to do if the marriage has truly difficult issues such as domestic abuse couples who had been planning to divorce under more amicable circumstances, living together, but separately, may be an option worth considering for the immediate future.
Recently the American Academy of Matrimonial Lawyers surveyed its members and found that 37% of the respondents (all of whom are divorce attorneys) said they have seen a decrease in the number of divorces over the course of the economic downturn. In fact the Cook County Circuit Court in Chicago has seen a 5% drop in filings along with other cities around the country.
This isn’t to say that everyone should consider staying together just because of the bad economy. But before you make the decision to divorce, examine your finances carefully and honestly and make a rational, fact-based decision regarding whether you and your spouse can honestly afford to divorce at this time. One way to do this is to create a budget based on your income by gathering all of your monthly bills, including debt payments and savings needs. By taking this financial step before filing for divorce, you will quickly know if you can realistically afford to divorce during a bad economy.
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