New Research Shows That Divorce Can Actually Be A Boon To The Economy

Apparently, the post-Christmas season is a popular time of the year to ditch a not-so-loved one. Many couples are divorced in January. Family lawyers will notice business boom at a rate of about 33 percent more than usual. The trend even extends to our neighbors in the United Kingdom. Who knew? Anyway, there’s good news for those who finally decide to give up on a toxic marriage: sometimes, it actually saves you a lot of money in the long run. Here’s why!

Research conducted by the United States Census Bureau suggests that many divorce-related laws are more “relaxed” than they used to be, and sometimes that can mean saving money on an otherwise costly affair. These relaxed laws more often lead to “no fault” divorces that don’t damage either spouse’s pocketbook nearly as much. 

MarketWatch wrote: “In states with ‘no fault’ divorces, couples are 8% more likely to both work full-time outside the home, and it’s 5% more likely that the wife is in the labor force.”

Census’ Research and Methodology Directorate economist Misty Heggeness said, “Access to divorce for parents had a positive effect on children’s education, interpreted as increasing women’s bargaining power within married couple families.”

The conclusion was based on Heggeness’s look at the economic outcomes when Chile legalized divorce in 2004. She discovered a connection between legalization and increased school enrollment, which in turn would lead to better lives and financial outcomes for those kids (in other words, don’t buy into the old talking point that divorce is terrible for the children, because, in reality, it might just be for the best).

The rates of divorce-related violence have also gone way down because of those new no-fault laws. 10 percent fewer women are murdered when only one spouse can file for divorce. Between 8 percent and 16 percent fewer women commit suicide during the proceedings. There is a further 30 percent decline in divorce-related domestic violence. 

One of the reasons divorce has become far more palatable these days — even though divorce rates are already at historic lows — is probably because of how much property young couples own before they decide to marry. Once upon a time, couples didn’t cohabitate until they tied the knot. These days, youngsters are staying together in the same home for longer and longer before they go searching for rings.

Those same circumstances have led to an increase in prenuptial agreements, which allow people more confidence if and when they do pull the plug on marriage.

Oddly enough, senior citizens are among those who are most likely to get a divorce, with those aged 65 and older deciding to end a marriage rather than continue being unhappy.