More than half of women worry about their finances post-divorce

Divorce|Family|News|February 15th 2014

More than half of women worry whether they could cope financially if they divorced or separated from their partner, a new survey reveals.

One in five say they have stayed with their partner longer than they intended because they were worried about the financial implications of divorce or separation. When men are included, the number of those influenced by financial concerns rose to one in seven.

The report, from investment service Nutmeg, also suggests that one third of women have no retirement savings at all, and one quarter will be forced to rely on their partner’s funds when they retire.

One in five of the respondents said they worried about the financial impact of divorce or separation on their children, This Is Money reports, while 18 per cent said they had been forced to rent after a separation because they could not afford to buy a new home in the local area.

Men are six times more likely than women to leave the family home following separation. However, women are more likely to than men to face financial difficulties. Half of the divorced or separated women featured in the survey said they had seen a drop in their disposable income, twice the number of men who had had the same experience. Two fifths of women said they had been forced to work longer hours as a result, compared just one in ten men.

Author: Stowe Family Law

Comments(10)

  1. jackie says:

    How absolutely true, I have been married for 47 years plus and have been divorcing for over two,(nearly there) Having been in a mentally abusive relationship and being made to feel useless where finances were concerned. Eventually I no longer cared about being in the relationship anything was better. Due to the slowness of the divorce I have learned a lot about the finances in the marriage, where the money was and how much, indeed I believe that I will manage but I still have the niggle about money. Being kept in the dark did not help, I believe I could have left a long time ago!! Thank you for your page.
    Jackie

  2. Luke says:

    I would be surprised if anybody doesn’t worry about their finances post divorce.
    It also suggests that a lot of people are miserable in their marriage but too scared to leave – which shows that the institution of marriage is even more of a bad idea than it is thought to be already.

  3. Steve says:

    Does not everyone worry about finances post divorce? if not then why does everybody argue about it…..totally meaningless survey!

  4. Tracy says:

    I’ve been separated from my husband for 4 years this year(12th July) divorce proceedings were started at the beginning on unreasonable behaviour grounds but as we have a son I was decided to put divorce aside until residency was sorted out. This took until October 2013 hence the 4 year separation. I’m now wanting to get the divorce back but as its been 4 years I’m really sure what to cite as the reason. He’s trying for adultery against me as I’m with someone else shall I just admit that and be done with it? Also will I have to pay him anything?

  5. Anonymous says:

    It was quite surprising that only half of women have these worries. Even more surprising though was the complete omission of any consideration of how many men have the same worries. Such an omission is just so revealing of the totally biased nature of family law.

  6. Yvie says:

    I’ve no patience with these surveys as they make very little sense. For example, more women have been forced to work more hours post separation than men. Presumably this is because the majority of men worked full time before separation and continued to work full time post separation. When a marriage breaks down and two people separate, both suffer hardship as there are two homes to maintain on the same income instead of just the one. The financial pot isn’t bottomless, and both have to learn to share and make do with less.

  7. Stitchedup says:

    Spot on Yvie.

  8. JamesB says:

    The women get the home, but I suppose they can’t eat the bricks.

    Yes, the old problem for most divorces, not enough money to go around, neither side happy. Not like in the world of celebrity on tv where there is enough money for two households.

    Perhaps the question on why the Government don’t make divorce even easier is answered here. The answer is because the repercussions include more social spending to support more households.

  9. JamesB says:

    The men get the income – but it isn’t sufficient to house them very well, no where near as well as before. Thus neither side happy.

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