Divorce happens for many different reasons, and there are also a variety of factors that can increase or decrease your odds. For example, divorce is more likely for those who get married at a young age and less likely for those who wait until age 32.
At the same time, financial stress is very common in the United States, especially with rising inflation and a looming recession. If you and your spouse are facing this type of stress, is that going to impact your odds of divorce?
A top reason for divorce
Unfortunately, the truth is that financial stress is one of the top reasons people give for divorce. If you are facing a lot of outside pressure, this can put additional stress on your marriage. Financial issues can also cause numerous disagreements and conflicts, such as when you and your spouse want to spend the money you have in very different ways.
It’s also important to note that simply being wealthy is not fully going to alleviate the stress or change your odds of divorce. Many wealthy couples also face exterior financial stress from things like not being able to pay their bills, being in a high tax bracket, losing a job, having a dangerous medical diagnosis and many more reasons. In other words, your income level doesn’t really make a difference when looking at your odds of divorce. You can earn more and still face similar financial stress based on spending habits and other factors.
If you are getting divorced, be sure you’re well aware of all of your legal options. Financial disagreements can often lead to a more complicated divorce, and you’ll need to know what steps to take.