How do financial factors affect divorce decisions?

When asked to identify major trouble spots in their relationship, 35% of people mentioned money in a 2018 survey. You may be more likely to experience trouble if you and your spouse are not on a firm financial footing or there is a wide disparity between your credit score and your spouse’s.

However, even high-net-worth couples, i.e., those worth at least several million dollars, can experience financial stresses that may lead to divorce. According to CNBC, your own financial situation can put stress on your relationship, and the economy, in general, can also be a factor in your decision to divorce.

Your financial situation

If either you or your spouse is a high-income earner, the job may put a strain on your relationship by requiring you to spend a lot of time apart from one another. At the same time, your monthly expenses may be so great that the high-earner is not able to leave the job. Individually, either of these factors may test the strength of your relationship. The marriage may not be able to stand up to the stress of both combined.

The economy in general

The financial state of the entire nation can also affect your decision whether or not to divorce. Even if the relationship has deteriorated, you and your spouse may wait it out rather than make such a significant, and expensive, life change in the face of an uncertain future. There is a positive correlation between the rate of divorces and the decline or recovery of the economy.

If you can reach a divorce settlement outside of court through a method of alternative dispute resolution, it may be less expensive than litigation. This may make divorce more feasible even during uncertain times.

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