More money equals a greater chance of divorce

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More money equals a greater chance of divorce

On Behalf of | Oct 24, 2018 | family law & divorce

As the economy improves and people begin earning and increasing their wealth again, some Illinois couples could find themselves arguing about money more often. Money has always been a source of tension for married couples, but the more money there is, the more arguments there could be. The research tends to back up the assertion that being rich makes your marriage more vulnerable to divorce.

Another concern that researchers point out is that when there is a large disparity between the credit scores of the spouses, the chance of divorce rises yet again. In fact, according to research done by the Federal Reserve Board, a marriage may not make it to the five year mark under these circumstances. Even when credit scores are not a factor, people with high incomes may also have high monthly expenses, which could cause a great deal of tension.

It may seem difficult for many Illinois residents to believe, but even people who make somewhere around $1 million a year live paycheck to paycheck and have no retirement savings. Knowing this, it is not hard to imagine that couples in this position could experience marital strife. What could make matters worse between them is if one person is earning all of the income while the other stays home. The one working may also not be home often due to long work hours and travel.

Under these circumstances, it is easier to understand why more money could equal a greater chance of divorce. Couples who reach a point where they can no longer sustain their marriages may decide to part ways. If they do, they do not have to go through a contentious, traditional courtroom divorce. They may choose to settle their issues in a more amicable way, if possible.

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