The decision by a couple to get a divorce is a difficult one. Regardless of the length of the marriage, the consolidation of physical assets as well as the emotions involved and, in some cases, the child or children associated with the union can be both legally and physically challenging to separate.
The biggest challenge though may come where it can hurt most, in the pocket. In a divorce, there is likely no longer two dedicated incomes in the home which results in some cutting and trimming of the usual luxuries that each member of the household would have become accustomed to.
Research shows that divorce affects each partner differently. A study published by the Institute for Social and Economic Research (US) found that men “rise immediately and continuously” as the years go by after their divorce. They may suffer a dent to their wealth at the beginning, but as time goes by, they benefit from no longer having a spouse.
On the contrary, the woman is more likely to suffer a lowered income. Another study published by the US Accountability Office found that women’s household income fell by 41% after separating past the age of 50. As women tend to live about five years longer than men, this lowered income is even less when stretched over more years. As a result, women are more likely than ever before to work after a divorce.
According to the story of Sandra* who is currently going through her divorce, “surviving financially depends on an amicable separation and both parties recognising that there were real responsibilities that came out of the marriage.”
“What I have recognised is that no one truly wins. Goals set during the marriage are either slowed significantly or placed on hold because there is uncertainty in a single income,” she shared.
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The decision by a couple to get a divorce is a difficult one. Regardless of the length of the marriage, the consolidation of physical assets as well as the emotions involved and, in some cases, the child or children associated with the union can be both legally and physically challenging to separate.
The biggest challenge though may come where it can hurt most, in the pocket. In a divorce, there is likely no longer two dedicated incomes in the home which results in some cutting and trimming of the usual luxuries that each member of the household would have become accustomed to.
Research shows that divorce affects each partner differently. A study published by the Institute for Social and Economic Research (US) found that men “rise immediately and continuously” as the years go by after their divorce. They may suffer a dent to their wealth at the beginning, but as time goes by, they benefit from no longer having a spouse.
On the contrary, the woman is more likely to suffer a lowered income. Another study published by the US Accountability Office found that women’s household income fell by 41% after separating past the age of 50. As women tend to live about five years longer than men, this lowered income is even less when stretched over more years. As a result, women are more likely than ever before to work after a divorce.
According to the story of Sandra* who is currently going through her divorce, “surviving financially depends on an amicable separation and both parties recognising that there were real responsibilities that came out of the marriage.”
“What I have recognised is that no one truly wins. Goals set during the marriage are either slowed significantly or placed on hold because there is uncertainty in a single income,” she shared.
Share this post: