How the economy may affect marriage and divorce

Couples in New Mexico can learn about how the economy may play into the success or lack thereof of a marriage and what to watch for.

Many people in New Mexico may commonly believe that a positive financial situation is more conducive to marriages lasting than would be a difficult financial situation. While it is certainly true that financial problems can add great stress to a marriage, the lack of such issues does not necessarily promote better marriages.

As the nation weathered the recent recession, the divorce rate dropped. Several experts heralded this drop as a sign that people learned to band together when times were tough and indicated that the recession may actually have a positive side effect on society. One sociologist from the University of Maryland, however, has a whole different view on things.

Noticing that the divorce rate once again began to climb in 2008 just as the economy showed initial signs of improvement, the sociologist instead suggests that people did not choose to remain married so much as they chose to put off getting divorced until a later time when they could afford it. From his research he claims that as many as 150,000 divorces were postponed due to the recession but not avoided. In essence, the report indicates that a good economy could actually be harmful to marriages.

The cost of a divorce proceeding, concerns about ongoing expenses such as spousal support and others can make many persons unsure about their ability to pay for a divorce so that when money is tight, remaining married becomes the best financial option.

Other financial concerns during a divorce

When persons get divorced at later ages, when fewer years remain to save for retirement, concerns can be high as to how to protect retirement assets. The Huffington Post suggests that a close eye be paid to choices during a divorce settlement about which assets to keep, which to let go of and which to split.

What is the view in New Mexico?

According to WPBF.com, New Mexico has the seventh highest number of divorced persons in the nation. A total of 13 percent of the state’s residents are noted to be divorced. This is in comparison to New Jersey and New York who are in a tie for the lowest divorce rate in the nation with only 8.5 percent of residents being divorced.

Information provided by the U.S. Centers for Disease Control and Prevention from 2011 show that in the state of New Mexico, 3.3 out of every 1,000 persons are divorced. These numbers make it clear that many people in the state should be aware of some of the factors that may affect their marital status.

Talk to an attorney

Anyone who is considering a divorce should speak to a family law attorney. Getting help from a professional is an important means of avoiding unnecessary losses during this difficult experience.