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Does the economy affect divorce rates in the U.S.?

On Behalf of | Feb 26, 2022 | Divorce |

The recent volatility in the stock market may make you wince every time you check the value of your investment portfolio. Even if your investments remain healthy, skyrocketing inflation means your dollar is effectively worth less than it was worth just a few months ago. Either way, you may have a bearish view of the current economy.

While divorcing couples often put some blame on personal financial conflicts, a weak national economy does not increase the number of divorces. In fact, according to reporting from CNBC, divorce rates in the U.S. tend to drop when the economy is poor.

Your personal wealth

If you and your spouse have considerable wealth, a downturn in the economy is not likely to dissuade you from ending your marriage. After all, you probably have enough assets to put both of you in a solid financial position after your divorce concludes.

On the other hand, if you worry about your future financial stability, it may be tempting to stay in your marriage until the economy improves. This may be especially true if you are a stay-at-home parent or otherwise have few options for supporting yourself financially.

Your perceptions of the economy

Your decision to serve your husband or wife with divorce papers may hinge on your perception of the economy rather than actual economic factors. Remember, even bad economies are not bad for everyone. Likewise, if you have a prenuptial agreement or a legitimate argument for spousal support, economic conditions may play less into your decision.

Ultimately, regardless of the overall health of the U.S. economy, it is critical to explore all your financial and legal options before moving forward with ending your marriage.