Earlier this week, Financial blogger Emma Johnson — who writes at WealthySingleMommy.com, Forbes.com and runs a popular podcast called “Earn Like a Mother” — and I spoke about the idea that Divorce is a luxury.
None of this is surprising, as throughout history most people simply could not afford to divorce — most especially women, who were likely critical to the family finances, but oft had little economic power. Today we do, and women file the majority of divorces, figures that are dramatically higher for college-educated women, of whom 90 percent are the divorce filers, according to some statistics. In other words, when you feel broke, you stay, and when you feel like you have money in your pocket, and things get tough, you are more likely to leave.
In this podcast my friend and Astoria, New York family lawyer Morghan Richardson called in to share her experience dealing with divorcing couples — many of whom have no idea how much the process will cost ($44,000 on average, nationally!), much less the cost of running two households. Stay-at-home parents or a partner who chooses to not to be involved in the family finance are especially naive about this reality.
— notes Johnson on her blog about her podcast topic. Read:
Divorce is a Luxury | By Emma Johnson
Don’t forget you can download this or any of Emma Johnson’s other podcasts free on iTunes: Like a Mother.
Have an opinion on this topic? Let us know in the comments.