Could the state of the economy predict whether a marriage will last? According to some experts, the economy does indeed affect the divorce rate. When the economy is going strong and incomes begin to grow, the number of divorces in California and across the rest of the country also increase.
Even though money is one of the main contributors to marital stress, having more money does not necessarily help. A 2018 study from Northwestern Mutual found that 41% of respondents reported that financial anxiety negatively affects their relationship. As it turns out, having more money actually increases financial stress rather than alleviating it.
In addition to having more money to stress about, a higher income also contributes to divorce in other ways. When considering whether to file for divorce, people generally take their finances into account. Since divorce does have a financial impact, when the economy is not doing great and incomes are low, some people would rather put off filing. Once incomes go up, those who did not feel financially secure enough to pursue divorce generally feel as if they can move forward with the process.
Deciding to file for divorce is a complicated matter, and people pursuing this option usually take a wide range of factors into consideration. Aside from their personal feelings regarding their marriage, this also means thinking about financial stability after a divorce. However, California residents who have financial concerns associated with divorce can generally reach an agreeable solution by paying careful attention to details and seeking guidance when necessary.
