Last year, it was anticipated that two in five marriages in the UK would end in divorce, with 27,908 applications logged between January and March alone. With Valentine’s Day just a fortnight away, love is certainly in the air.
However, to keep it that way, a divorce specialist has revealed the primary reason couples decide to part ways. In 2022, new legislation was introduced allowing couples to jointly end their marriage without having to assign blame to either party.
While this simplified the legal process, the decision to file for divorce remains as painful as ever. Following these legislative changes in 2022, data from the Office for National Statistics showed that there were 80,057 divorces granted in England and Wales that year, with marriages lasting an average of 12.9 years.
James Brien, founder of Easy Online Divorce and author on amicable separations, stated that financial issues are the main cause of relationship breakdowns. The relationship guru suggested that if couples simply had a discussion about money before getting married, it could save their union.
He recommends that couples agree on their financial approach before they say ‘I do’.
James said: “I would say almost half of couples who divorce do so over money, whether it’s different ideas or attitudes about finances or pressures due to the cost of living. The way we think and feel about money is shaped by a complex interplay of factors such as our upbringing, our past experiences, cultural influences, and personal beliefs.”
He also noted that discussing finances early in a relationship, though potentially awkward, is crucial to avoid future conflicts, saying, “it can become a big problem down the line.”
The divorce specialist elaborated: “Disagreements over money early on, such as one person making extravagant purchases while the other preferring to save for a rainy day, can start small in the early days.”
He warned that these issues often escalate, particularly when households are under financial stress, leading to “overspending, debt, and secrecy surrounding money.”
Highlighting a shift in how couples manage their financial futures, Brien pointed out that more people are now opting for prenuptial agreements before tying the knot. These legal documents set out how assets should be divided if a marriage ends.
The Marriage Foundation reported that in 2021, 21% of married individuals in the UK had a prenup, and Co-op Legal Services’ business data from 2023 indicated a significant rise in clients seeking prenups, with requests more than doubling within a year.
Whether it’s a legal agreement or just a frank conversation, opening up about your feelings towards money could be the thing to save the future of your relationship.