Millennials: Marriage, Divorce and Parenting

Millennials! We hear complaints from the Baby Boomers, jokes from comedians, and drama from television sitcoms about this current generation. They don’t do anything the right way! Or do they? It seems they’re having their say and their influence on marriage and divorce in America. What are they up to? Let’s find out.

Millennials’ Impact on the Divorce Rate

After watching their parents go through divorce, or several divorces, millennials appear to be changing the marriage game. And along with it, the divorce numbers. Millennials are focused on finding the right partners, committing to a successful marriage, and, just as important, being good spouses. The effects of growing up with divorced parents echo through the generation so many love to deride.

A few key numbers from recent research include:

  • 53% of millennials want divorce to be easier to obtain
  • The divorce rate has declined 18% in the last decade
  • The marriage rate has also fallen — to a third of what it was at its peak in 1920! (source)

So, how are millennials affecting those numbers?

Millennials and Marriage

Millennials are waiting longer to get married once they’re in a relationship. The average time from the start of a relationship to walking down the aisle is almost five years. They go through many partners — you know, all those dating apps — in their search for “the one.” In previous generations, marriage came much sooner and the relationship developed from there. Millennials are turning that paradigm on its head.

Millennials Attitude Towards Divorce

This generation has wised up to the cost of divorce — $15,000 – $25,000 for each partner! (Of course, it’s much more affordable and easier on the mind to go through an affordable divorce mediation, right?). That means, they have put their financial well-being slightly ahead of their matrimonial aspirations. They want to know they’ll hit their financial goals before tying the knot. Which also means…

They’re signing more prenups. While previous generations saw prenups as unromantic, millennials are starting to see them differently. In a survey of lawyers, attorneys saw prenups rise among millennials which had an impact on the overall number of prenups signed by newlyweds.

Millennials As Parents

When asked about the most important things in life, 52% of millennials said parenting is number one — marriage came in at 30%. And that gap continues to widen among millennials. Just like they’re waiting on the right marriage, this group is also waiting for the right moment to become parents. See a trend? Their motivation once again is financial stability and success.

Are Millennials Getting it Right?

It’s hard to argue with the approach and the success that millennials are creating for themselves, their marriages, their families, and their financial future. Taking time to find the right partner and making deliberate financial decisions fits right into our strategies here at Affordable Mediation. We’re focused on creating financial success and happiness for both partners following a mediated divorce. Maybe we’ll see fewer divorces from this generation, but for those who need a compassionate solution, we’re here for them.