Financial pressures can make separating feel out of reach and as the cost of living continues to take hold, an increasing number of couples are putting their divorce on the back burner due to financial pressures.
Is the cost of living keeping you in an unhappy marriage?
Research published by Legal & General in January 2025 found that around 280,000 recent divorces had been delayed for financial reasons, with 17% of divorces over the previous five years postponed because of money worries.
One of the biggest challenges for separating couples is deciding what happens to the family home. Higher housing costs can make it difficult for either person to secure a suitable alternative property, especially where children are involved. As a result, some couples may feel they have little choice but to continue living together while they work out their options.
However, the family home is only one part of the financial picture. Savings, investments, debts and pensions can all form part of a financial settlement. Pensions are particularly important, as their value may be substantial even if they are not immediately accessible.
Can you afford to get divorced?
The financial implications of divorce means couples may need to budget for new accommodation, household bills, childcare, moving costs and the day-to-day expenses that were previously shared. For someone who has taken time out of work to care for children, or who earns considerably less than their spouse, these challenges can be especially difficult.
It is also worth remembering that divorce and the resolution of financial matters are separate issues. Finalising a divorce does not, by itself, resolve all financial claims between former spouses. Where appropriate, a legally binding financial order can provide greater certainty about the arrangements agreed.
Divorce doesn't have to mean a lengthy court battle
While dealing with the financial aspect of divorce can be expensive, there are ways to manage costs and avoid unnecessary conflict. Where it is safe and appropriate to do so, many couples communicate constructively and reach agreement to resolve financial matters without contested court proceedings.
Reaching an agreement does not mean overlooking important financial details or proceeding without legal advice. A settlement needs to take account of your individual circumstances and future needs, and any financial agreement should be formalised appropriately.
If you are worried about the cost of separating, seeking advice early can help you understand the likely steps, potential costs and options available to you. Where there are concerns about domestic abuse, coercive control or financial control, specialist advice is particularly important, as mediation or direct negotiations may not be appropriate.
Don't let financial worries put your future on hold
Financial pressures can make an already difficult personal situation feel even more overwhelming. However, staying in an unhappy marriage because separation seems unaffordable is not the only option. You do not need to have all the answers before seeking advice.
Understanding your legal position, gathering information about your finances and exploring the options available can help you make informed decisions about your future.
Parker Bullen's Family Law team can provide clear, practical advice on divorce, financial settlements, arrangements for children and property matters. If you are considering divorce but are concerned about the financial implications, contact Parker Bullen to discuss your circumstances and understand the options available to you.