Monday, March 09, 2009

The Silver Lining in the Divorce Recession

posted by Michele Olson

Rosemary Black from the Daily News recently pointed out that divorce is the latest recession casualty. Some couples who were planning on divorcing have put their plans on hold. In this economy there may not be funds to hire an attorney, or the ability to sell a house as part of a settlement. One or both spouses may be unemployed.

If you have ever seen our Marriage Myth Buster Guide, you know that we address the greater wealth that comes from staying married. Myth number two is that marriage puts a strain on your finances. In reality, marriage gives you a much larger pocketbook. The fact is: it’s expensive for a couple to get divorced. Then there’s the monetary cost to society. It’s estimated to cost $20,000 to $30,000 in public resources. For example, in 2006, Wisconsin taxpayers spent $300-$500 M due to family breakdown.
That doesn't even touch the subject of the emotional devastation.

The silver lining? People may be forced to work on their marriage rather than give up too easily. For those who can turn this crisis into an opportunity to improve rather than dissolve their marriage, the recession may turn out to be good for their pocketbooks and their hearts.

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