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Could the Cost-of-Living Crisis Affect Divorce Rates?

Many observers have speculated that the Covid-19 pandemic fuelled a rise in divorce, not just in the UK, but across the world. Faced with a potent mix of enforced lockdowns, social distancing, and soaring anxiety, many relationships suffered irretrievable damage, and divorce and family solicitors experienced a surge in enquiries from couples considering separation in the aftermath of the pandemic.

Now, with the cracks already exposed in some marriages, a fresh crisis has emerged that could push warring couples to the brink: the cost-of-living crisis.

How The Cost-Of-Living Crisis Could Fuel Divorce

Most families across the UK are experiencing the financial pressures of the cost-of-living crisis. In particular, soaring fuel and food prices have begun to squeeze household budgets – according to research carried out by the University of York, an estimated 45 million people will experience difficulty in paying their fuel bills this winter – while the Government’s recent ‘mini-budget’ resulted in spiralling mortgage rates that could mean some families have little, if any, disposable income.

Financial pressures are one of the leading causes of a relationship breakdown, especially if one party is regarded as unprepared to make the necessary sacrifices to protect the household budget.

While there are no hard statistics proving that divorce rates are rising with the rate of inflation, the legacy of the global pandemic would suggest that relationships are often the first to suffer when a global financial crisis takes root within the family home.

If you believe your relationship may be at risk – perhaps the signs are already apparent, and the promise of a worsening economic picture looks certain to bite – seeking immediate advice could make the entire process more manageable and less traumatic.

How The Experts At Astle Paterson Can Help

At Astle Paterson, we are here to help.

We’ll be here to guide you through the process to help you to achieve your desired outcomes, while ensuring that your financial stability is the priority. As members of Resolution and with Family Accreditation, our team offers a sensitive approach to your divorce and can provide expert advice on all relevant issues, including finances and children.