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How Divorce Rates Are Tied To Income

DivorceRate

Divorces are on the decline in America, which is a good thing. Since the 1970s and 1980s, divorces are becoming less common and creeping below the common statistic of 50%. That means that the saying “half of all marriages end in divorce” no longer rings true because it doesn’t take into consideration factors such as age, education, and occupation.

In fact, approximately 70% of marriages from the 1990s reached 15 years. Couples who married in the 2000s are divorcing even less. Today, people are marrying later in life. In the 1950s, the average age of marriage was 20 for women and 23 for men. Today, that number has risen to 27 years old for women and 29 years old for men. At this rate, the divorce rate will soon drop to one-third, or roughly 33%.

While many factors can lead to divorce, divorce rates are primarily tied to income. Between $10,000 and $200,000, rates drop. After that, rates go up and down but stay between 20% and 30%. In the 1980s, the number of married, college-educated couples that split by the time they reached their seventh anniversary was 20%. Today, that number has dropped to 11%.

However, the situation was different for lower-income couples (those who make under $30,000 a year). In the 1980s, the divorce rate for this class was 20%. Today, the rate is 17%, so the decrease has been minor. However studies show that those who earn less divorce more but don’t marry as often anyway.

“Adequate” income is seen as an important factor in a good marriage. Women who marry before the age of 25 and have no income or college education have a divorce rate of about 40%. Interestingly, divorce rates drop when married women earn their income and have access to their own money, the divorce rate drops to 20%. Spouses who argue about money on a daily basis are much more likely to divorce than those who disagree just a couple of times a month.

Education is also a factor, since more education tends to equal higher earnings. When more women started attending college in the 1980s, divorce rates decreased. In many ways, education levels may be just as important as income levels. This is seen in Massachusetts, which has the highest education rate of all states. The state also has the lowest divorce rate.

Contact a Maryland Family Law Attorney Today

While money can keep a marriage together, a lack of it can lead to marital problems and even divorce. That’s because many couples fight over various aspects of money.

Divorce is a serious matter that involves many aspects. Get the best outcome possible with help from a Columbia family lawyer from The Law Offices of Todd K. Mohink, P.A. We’ll guide you through the process with ease. Schedule a consultation with our office today. Fill out the online form or call (410) 774-5987.

Resource:

flowingdata.com/2021/05/04/divorce-rates-and-income/

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