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.