Divorce and the Economy

One thing researchers are finding is that in this current economy, people are putting off getting married, having children, adopting, and yes, even getting divorced. When divorce occurs, many things happen that change the way families live. At this point in time, many people are finding themselves with less assets than more. And people who are actually “planning” a divorce will do it when their business is doing well, their houses are worth more money, and they have stable and high income jobs. When the economy is poor, these things tend not to occur. When divorce occurs, often there is a loss of assets. A home must be sold, and families find themselves living is smaller homes or apartments. Generally, those apartments or houses are in lower class neighborhoods than the marital home. Research has shown that the division of money has put up to 50% of the current families who are divorcing below the poverty level. The marital home will draw less money when sold, and perhaps one or both of the parents have lost previously high paying jobs, and there are fewer dollars to be stretched between two households. This has a big impact on children, because when families move into poorer conditions, children are left without their former, and often better schools, they lose their doctors, because the family finds itself on Medicaid and often Food Stamps. Perhaps the parents have had to go on unemployment, which while it does provide some income, it certainly doesn’t meet the level of what they were enjoying before. Trips to Disneyworld, and sometimes even to the movies or out to get ice cream are no longer in the picture. Clothes become a necessity that is difficult to make a part of the budget, and families are having to buy children’s clothing in second hand stores and garage sales. Well, you get the picture. If you are considering an amicable divorce, not one in which domestic violence is pervasive and the children are in danger, it might be a good idea to put it off a bit until the economy is in a more stable place. It would benefit your children in the long run.

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