The lasting effects of this cost-of-living crisis will not be clear for a couple of years. Significant debt, incomes not keeping up with inflation and rising prices of fuel and household expenses are very bad news for relationships. People are feeling the real pressure of income tax increases and current energy prices. Even filling up the car at the petrol station is for many, prohibitively expensive. The latest Bank of England forecast predicts inflation peaking at the rate of 10.2% at the end of 2022. The war in Ukraine has put extra stress on global supply chains and all of this impacts at grass roots level.
The cost of living going up affects people’s daily lives so much; love lives are damaged, social spending is reduced and people are scaling back what they are spending on their weddings just to be able to make it happen but in a more affordable way.
Often for those adopting traditional gender roles in a relationship hardship can lead to feelings of embarrassment. If people have set ideas around who in the relationship should pay the bills, organise date nights or buy presents that cannot really be afforded, this can lead to personal stress and the risk of that person hiding the debt that has been accrued. This is all too common and secrecy around the overall financial situation again causes frustration and a lack of trust between a couple. Sharing feelings about money worries can be difficult. Real conversations about what is happening will help a relationship survive.
During the last recession those who lived on or around the poverty line were 8 times as likely to break up. The most important thing is to get clear bespoke advice about how things might look financially if the relationship is at an end. Internalising worries about money or arguments over decisions on expenditure can push a relationship over the edge.
Call 01590 676933 to speak to our expert family law solicitors; Sarah Unsworth, Ann Herd and Olivia Le Masurier for clear and practical advice as to the way forward should your relationship not survive.
Our matrimonial lawyers in the New Forest are happy to offer initial fixed fee consultations, and provide clear costs transparency for the duration of your matter. Click here to find out more about our family law services or here for our dedicated divorce law page.
