Workers Earn Less After a Divorce (2024)

FAQs

Workers Earn Less After a Divorce? ›

Income of the Newly Divorced

Most men experience a 10–40% drop in their standard of living. Child support and other divorce-related payments, a separate home or apartment, and the possible loss of an ex-wife's income add up. Generally, Men who provide less than 80% of a family's income before the divorce suffer the most.

There is a good body of research on the subject that shows women bear the heaviest financial burden when a couple divorces.

We're still living in a world where men make more than women, and 69% of husbands make more than their wives. So when a couple gets divorced, the woman's household income drops more than the man's. Finally, data actually shows that women are more negatively affected after a divorce, both financially and emotionally.

While divorce itself does not directly affect credit scores, the financial upheaval it brings can. Joint accounts, if not managed properly during and after the divorce, can lead to missed payments and increased debt, negatively impacting credit scores.

To put it simply, regardless of your financial position during a marriage, you'll likely have less money coming into your household after a divorce, and you may not be able to afford all the things you used to when you were married.

Even though women earn less than men on average, the income loss is on average 9% for women instead of 17% for men. This difference between men and women is most visible in their 30s, during which men lose close to 40% of their income following a divorce, while women lose noticeably less.

Research indicates life after divorce for men is more traumatic than it is for women, taking a more significant emotional toll as well as sparking physical deterioration. Women file for divorce 70% of the time, and when it's a shock, with no time to prepare — that has a marked impact on how men handle divorce.

So, what exactly is walkaway wife syndrome? In essence, it refers to wives who become so emotionally disconnected and dissatisfied with their marriages that they eventually decide to leave—often after years of built-up resentment. This isn't your typical cold feet or mid-life crisis.

Economic quality of life

Ultimately, the overall economic quality of a man's life, based on earnings and amount spent on living expenses, increases after his divorce. He continues to earn more but bears fewer family expenses. The overall economic quality of a woman's life, post-divorce, decreases.

Who is usually happier after divorce? ›

Women are “significantly more content than usual for up to five years following the end of their marriages, even more so than their own average or baseline level of happiness throughout their lives,” according to a 2013 study from London's Kingston University.

Moving Out Can Affect Spousal Support Payments

In some cases, temporary orders compel you to continue paying during the divorce. It's common to have to cover your share month to month, even if you live elsewhere. This also often sets a negative precedent when it comes to spousal support.

Marital property is generally defined as all income, property, and debts acquired during the marriage. That property is seen as owned equally by both spouses and will be distributed equally after the divorce, with a couple of caveats.

- While emotional stress may feel harder to handle, recovering financially takes longer — and more than one-third have yet to fully do so up to five years following the divorce.

"Pro Confesso" is a Latin legal term that means "as though confessed". A "Pro Confesso Hearing", also simply known as a "Pro Con", is the final hearing in a divorce case. Usually, only the Plaintiff (the person that filed the divorce case) has to appear for this hearing. This hearing is public, and anyone can watch.

Divorce/Separation is one of the five valid hardships that qualify you for a loan modification.

While divorce can be hard on anyone, statistics show that women may be more financially impacted. This is especially true for women over the age of 50, as their household income can drop by up to 40% in the year after divorce.

Being divorced gives you full control over your finances. You will no longer have to worry about the constant fighting with your spouse over how to spend your money, how to budget and racking up credit card debt.