Troubled Arizona Economy Leading to Fewer Marriages, Pregnancies | Legal News | News Ticker

The economy in Arizona is in its worst state in decades, and nearly everyone who lives here is feeling the effects of the lack of jobs and the continuing down spiral of the real estate market in some way, shape or form. Financial troubles can invade every aspect of anyone’s life, and now come the findings of the United States Census Bureau that hammers this point home – the number of marriages and pregnancies in the state is nearing an all-time low, and many experts are blaming the troubled economy as a reason for this decline.

Arizona Bankruptcies Rise, Marriages and Pregnancies Fall

It’s well known at this point that Arizona is about to set yet another record for the number of bankruptcy filings in the state for the year 2010. This comes on the heels of the previous record, which was set only last year. When people find themselves in financial trouble, their instinct is to pull back on life’s plans in hopes that their financial difficulties will fade and that they will be able to get back into living the life that they want. According to the statistics provided by the US Census Bureau, 32 percent, or nearly one-third, of Arizona residents have never been married. This constitutes a large statistical jump from 2005, when the economy was booming. During that year, that number stood at just over 27 percent. In addition, the number of women giving birth in the last year fell from 64 per 1,000 in 2007 to 59 last year.

Regain Your Financial Freedom and Your Future Plans

Many have spoken and written about the effects that financial troubles in a bad economy can have on certain aspects of life, but these statistics show completely how pervasive these problems can get. Hesitating in regards to getting married and having children is about as basic as life’s desires can get. While it’s certainly not irresponsible to hold off on taking these steps when money seems short, there are options available to those who have these desires and who want to move forward in life.

Regaining your financial freedom begins with taking a look at your financial picture and planning a way out from under your stress. If you would like to learn more about how this can be done, the Phillips Law Group recommends the experienced bankruptcy attorneys atMontano Arentz & Associates, PLLC for all of your bankruptcy needs. Call today to schedule a free initial consultation!