Women have been fighting for gender equality in many areas of life with varying degrees of success. One area that you do not hear mentioned much when talking about gender equality is divorce.
Unsurprisingly, as in most areas of life, men generally tend to have things a little easier financially than women after a divorce. Here is what a report on this published in 2018 had to say on the matter:
In financial terms, men suffer less and recover quicker
You would expect both parties to take a financial hit in a divorce. Yet, the study found that a year on from the divorce men were 4% better off than just before they divorced. Women, by contrast, were 40% worse off after twelve months.
The report found that the gains men experienced did not last. Five years after their divorce, they were generally back at the same household income as just before the divorce. Women had recovered from their one-year low position, but their household income was still 25% less than it was just before they divorced.
Why are women worse off?
While each divorce case is different it is fair to say that women are more likely to have sacrificed their career during their marriage. They will either need to spend time and money retraining when they divorce, or just accept lower-paid jobs. Women also tend to take a greater average share of child-related duties, leaving them less time to earn.
Knowing this shows why getting a fair divorce settlement is especially crucial for women.