The average couple who get divorced are hit by a total bill of around £44,000, a cost which has increased nearly two-thirds in just eight years, a report reveals today.
The report, from the insurer Aviva, lays bare the crippling financial consequences of separating before the emotional turmoil, particularly for any children, is taken into account.
It reveals how the cost of divorce for a married couple, or a separation for a couple who were living together, has ‘soared’ since it carried out the same investigation eight years ago.
In 2006, the average bill for a couple was around £28,000. By 2014, it has jumped to around £44,000 per couple, a rise of 57 per cent.
The bill does not just come from the standard costs of legal fees, if a couple cannot separate amicably, setting up a new home and buying a new car.
A common extra bill is the cost of childcare as a result of separation, typically costing £4,300 a year, such as a mother needing to return to work or take a second job.
One in eight women said they ‘worked longer hours or took a second job’ following a break-up. One in ten, who did not work before the split, got a job.
The report reveals how separating couples are also prone to ‘splashing out’ on items to treat themselves during such a difficult period in their lives.
One in eight ‘took a holiday to celebrate their newly-single status’, typically spending nearly £2,000 on the trip.
Others buy ‘new clothes, jewellery and have a makeover’ to try to cheer themselves up or sharpen up their look if they are feeling downcast about their appearance, typically spending £1,500.
The report was based on interviews with 616 adults who have been married or co-habited with a partner within the last decade, but subsequently split up.
Louise Colley, a director of Aviva, said: ‘Two-thirds of couples who are married or co-habiting have some shared finances.
‘These arrangements can take some time to unravel if a relationship unfortunately breaks down.’
The latest figures, from the Office for National Statistics, based only on divorces in England and Wales, revealed how it is most likely to strike when people are in their early to mid-forties.
Of the 118,140 divorces in 2012, the average age at which a man gets divorced is 45, while women typically get divorced at the age of 42, it said.
Nearly one in five people who got divorced in 2012 were doing so for the second time, it said. The percentage of so-called ‘double divorcers’ has almost doubled since 1980.
A typical marriage which ended in divorce in 2012 had lasted for 11 years and six months, a figure which suggests the infamous seven-year itch is rather pessimistic about a couple’s long-term chances.
The ONS also added up the number of children whose lives are disrupted by the divorce of their parents.
Around half of couples who got divorced in 2012 had at least one child under the age of 16 who was living with them, it said.
More than 20 per cent of these children were under the age of five, an age at which many will grow up to have little, or no, memories of their parents living together as a married couple.
Read more: http://www.dailymail.co.uk/news/article-2728468/The-cost-divorce-Couples-hit-bill-44-000-split-risen-nearly-two-thirds-just-eight-years.html#ixzz3ApV9lByj
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