Finances and Their Effects on Divorce Rates

finances

Money is essential to our survival, but arguing about finances is definitely no something that will bring stability to the marriage. The stress caused by the lack of income or its unreasonable distribution by the individuals in a couple can definitely make a relationship strenuous, and if the situation doesn’t change, lead to a divorce. There are a lot of nuances when it comes to the effects of finances on the duration of the marriage, and here we discuss some of the most important statistical information.


Money Problems Equal Divorce?

While earnings may seem like such a trivial topic when talking about relationships, we still live in the real world where they play a significant role and are necessary to satisfy our needs as human beings. There are many factors to consider when assessing the potential success of marriage, but can money issues increase the chances of a divorce? Well, it seems so, judging by the numbers. The Pew Research Center survey confirms this suggestion with at least 53 percent of married people mentioning reasonable income of another partner as an important condition for a lasting marriage.

Moreover, according to the study by the University of Utah, the couples that argue about their expenses a few times a month or rarely are a lot less likely to separate as opposed to those who bring up financial problems every day or several times a week. Another statistical fact that is worth mentioning is that couples in which women don’t solely rely on their partners and have access to their own income are as much as 20 percent more likely to stay together. This may have to do with the feeling of equality in a relationship where everyone contributes their share to support the welfare of the family.


High Income Vs Low Income

A lot of people wonder whether families with high income are less prone to getting divorced, and the answer is yes and no. According to the studies, the information that half of the marriages don’t last is not true for the couples with higher income, and what is more, the divorce rate continues to drop. Compared to the situation in the 1980s, the number of couples with the college education and higher income that separate before living together for seven years has decreased from 20 percent to 11, which is quite significant. [2]
Also, an annual income of more than $50,000 decreases the risk of getting divorced by approximately 30 percent in comparison to the earnings of under $25,000. At the same time, the lack of financial problems is not always the sure way to save the marriage, as there are other factors that play a role, including conflicting views, age difference, the presence or absence of children, and more.


Solving Problems before it’s too Late

When the initial excitement of a relationship wears off, and couples are faced with having to take care of the household and manage their finances, marital problems are not at all uncommon. Inadequate spending of money by one partner or the lack of steady income from both parties can certainly lead to divorce. Discussing the role of each partner in ensuring financial stability as well as approaching all the investments responsibly may prevent money problems from ruining the relationship beyond repair.

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