Divorce and Financial Hardship: The Financial Impact of Separation

According to Kazmi, Pervez, & Ijaz, in achieving successful marital relationships, the major role is contributed by the economic resources. In addition, Rothwell & Han also stated that it really plays an important part in the functioning of the family. In divorce and financial problem essay this topic will be considered. 

Individuals with limited financial resources usually experience financial strain. There are several factors will lead to a financial strain such as higher cost of living in Malaysia. For example, high price of housing, extensive usage of credit, debt, low salary, and lack of budgeting. Individuals who experiencing financial strain are confronted with the fact that they failed to manage their money, and this may lead to long-term and negative consequences to society.

The financial problem also is one the most critical problems which those early married couples face. Most of them divorced because of financial problems. It is because today’s economic decline growth and it will give a big impact to the young couple. In addition, nowadays most of the young people are unable to get a stable job because of the limited opportunity. 

The other raeson is most of the couple make materialism things become necessary. According to Anderson, couples nowadays more valuing things more than the relationship. They felt like the household, furniture, jewelry and etc. is more important than their spouse. This thing will lead to a higher chance of the financial problem. According to McWhinney, the extended family is a real problem when it comes to the financial problem. Those young couple marries at the early age around 18-25, they still have their siblings to support them behind. It really costs them a lot of money. Furthermore, financial management practices play a vital role in the sustainability of a marriage. Britt  stated that marital relationship is affected by an individual’s perception of how well one’s spouse handles finances. Previous study has also showed that married couples tend to fight about the financial management practices rather than how much money they earn or how little they have and they are more likely to dissolve their relationship when facing money management conflicts. Moreover, Godwin and Carroll found a positive relationship between financial management behavior and husbands’ satisfaction, but not wives’ satisfaction, whereas Amato & Rogers found the opposite. 

To conclude financial problem in family essay, the findings stated that women claimed that poor money management is a primary cause for divorce.