Divorce can be emotionally devastating for children. However, it may be devastating for their wallet as well. According to a recent study, children that did not live with their parents were less likely to be part of a higher income group 12 years later as adults.
In this day and age, a two parent household almost also always means two incomes. This means more disposable income and vacations for the kiddos, and that makes everyone happier.
Children of single parents are also more likely to experience childhood poverty, become teenage parents, act up in class, and even drop out of school all together.
Check out this infographic to learn more about the effects of divorce on children’s financial future.