There is an interesting trend happening nationally with regards to the divorce rate. As the economy has slowly been inching its way back from the recent recession, so too has the divorce rate continued to increase along with it. Many people incorrectly assume divorce goes up when a recession hits. Wile it is true financial problems are some of the leading causes of divorce, tougher economic times generally tend to decrease the rate of divorce overall.
The explanation for this is simple. Divorce can be an expensive process. It never is a better financial decision as a whole to divorce as opposed to living with combines incomes and combines expenses. It is tougher financially on a family to break apart than it is to stay together. As a result, when the economy is down many people choose simply to put off divorce until things bounce back and they can once again afford a separate life. The divorce rate rose last year for the third straight year in a row and most are predicting 2014 will bring another increase in the overall rate.
Economic Impact of Divorce
The divorce rate was the lowest it had been in 40 years in 2009. As we know 2009 also marked the worst point of the recession. Many families had enough financial strife occupying their time to even consider divorcing or further causing financial stress on the family. Believe it or not, many analysts believe a rising divorce rate actually can have a positive impact on the economy because divorce leads to more housing purchases and more parties entering the work force. Obviously, a divorced spouse who may not have been working and living in one home may soon find the need to obtain employment and their own living arrangement. A spike in Americans seeking divorce can coincide with a spike in condos, apartments, and other rentals.
No Longer Putting Off Divorce
If you are like many other individuals who have been putting off divorce because of financial concerns during the recession, but are now ready to terminate a marriage, we can help. If you have questions regarding financial support issues such as alimony, child support, etc. we are happy to provide you with a detailed analysis of what to expect. A Salt Lake City Utah Divorce Attorney at Salcido Law Firm can go through the details of your concerns and put together s strategy to move forward through divorce and into the next phase of your life. Contact us today.