How does economic standing affect a marriage?

by | Nov 2, 2018 | Firm News, High Asset Divorce |

Many people know that one of the problems people encounter in marriage is trouble with money. What is less obvious is that being rich can actually increase your risk of getting a divorce. That divorce, like any involving many assets, is complicated.

Statistics have shown that earning more can actually stew trouble in a marriage. When economies are on the rise, the number of divorces usually follows suit, also, even though you would think they would decline due to less money-related stress.

Isn’t having less money more detrimental to a relationship?

Money itself is not the issue. Instead, it’s the way a couple uses them. Being rich increases stress because it means maintaining a high-expense lifestyle. It can also mean having fights over large purchases.

With couples who earn less, there tends to be less to argue over other than not having enough or just having enough. There are not the added stressors of being apart for high-paying jobs that require travel. Families in those situations may rarely see one another, harming the relationship significantly.

The other issue is economic disparity. When a couple has a lower income, it’s normally not the case that only one person works. Both might work to support a home or their lifestyle. However, in a high-wage home, only one person might work, and that can cause a large discrepancy in how much each person is “worth” in terms of finances. This is a stress and something that many couples cannot handle over a long period of time.

No matter what the situation is for your divorce, know that you’re not alone. Many people go through divorces, and you can survive yours emotionally, physically and financially.