Marriages Declined in Florida in 2020 – But This Isn’t Helping Personal Finances

2020 was a turbulent time for most Florida families. Challenges in maintaining health, housing, online schooling, and keeping the bills paid made this a stressful year for almost all Americans. It is not, therefore, entirely surprising that couples are less willing to enter into long term commitments during a time of such upheaval.

According to First Coast News , studies found that marriages in Florida were down by about 33 percent from 2019 to 2020. There was also a “marriage shortfall” across the nation, which led to a significant drop in American marriages between 2019 and2020. Interestingly, divorce rates were also down by about 33 percent in Florida, in spite of the tense situations many couples faced in suddenly working together at home full time.  

It is not entirely surprising that couples do not want to make long term plans – for either marriage or divorce – while the world is in such chaos. It is difficult to make plans for the future when many couples are struggling to simply pay the rent. Of course, marriage is an incredibly personal decision that should not be made for purely financial reasons. But it is important to understand the effects that marriage can have on your personal finances.

Many couples find that their financial situation improves when they are able to combine finances. Living together can significantly decrease your living expenses. Married couples are also able to take certain tax deductions that are not available to those who are legally single. This reduces the overall tax liability for many married couples, and this is another important step toward improving personal finances.

 
The experienced Florida foreclosure and eviction attorneys at Quattrochi, Torres, and Taormina are here to help all Florida families improve their finances however possible. Call 407.452.4918 or contact us online today to schedule your free consultation.