The intention of this essay is to describe the economics of relationships in different contexts. The different contexts chosen for this essay in order to give explanations are sexual orientation, gender roles, divorces and money. The explanations regarding each of these contexts are given below.
Sexual orientation
This section describes about different categories of sexual orientation and their economic relationships. “Much of the debate over legalizing gay marriage has focused on God and Scripture, the Constitution and equal protection” (The Costs of Being A Gay Couple Run Higher). Everyone are very much aware heterosexual couples and their economic relationships but none are used to aware about economic relationships of homosexual couples. Studies suggest that life time cost of being guy couple will be far more than heterosexual counterparts. It is found that high earning gay couple needs to owe more income tax than heterosexual counterparts. In case of heterosexual sometimes female won’t be having job. In such cases there will be reduction in income tax paid by heterosexual counterparts while comparing to guy couple. In case of health insurance if it is heterosexual couples both can enjoy health insurance provided by the company. If in case of homosexual then this is not applicable. Company will provide health insurance only to one. So in order to get health insurance for other they need to spend something extra. In case of estate taxes heterosexual married couples “can transfer an unlimited amount of assets to each other during their lives and at death without paying estate taxes. Everyone else, including married same-sex couples, must pay federal estate taxes” (Your Money: The High Price of Being a Gay Couple). In case of childbearing “two women who want to have a biological child together need sperm to do it. They may need to purchase sperm from a bank and use a medical professional to inseminate one of the partners. There are also adoption costs” (Your Money: The High Price of Being a Gay Couple). After all sorts of procedures that is nearly twelve months of sperm and insemination requires huge amounts. In case of pension for guy partner if one dies other won’t get anything. In similar case if it is for heterosexual then for survival spouse will get the pension amount. In this case also for heterosexual has serious loss. In case of individual retirement account a heterosexual married couples can make a payment up to $5000 yearly for a non working spouse. This will be beneficiary in later life of the spouse. However in case of guy partner it is not possible or they cannot make such contributions. In case of financial planning that is for protections and rights guy couple need to spend $5,500 more the amount than heterosexual couples. Also guy couples need to do lots of more paper work than heterosexual couples. If it is found that both guy and heterosexual couple has same salaries then heterosexual couple receives more retirement than guy couple because of marriage bonus and social security spousal benefits. However for guy couples these are not applicable.
Gender roles
Gender roles play an important role in having economics of relationships. Here while discussing about the gender roles there arises one question “was a financially successful woman a threat to her husband or a relief?” (Parker-Pope). This segment will analyze this question and also different types of roles male and female need to handle in their life and in their relationships. Based on a census data conducted by the Pew research center found that almost a third of marriages wife is more or better educated than the husband. Although men in overall are more earner than women, women are considered to be the breadwinner. Surprising effect on martial stability has been seen by changing economic roles of husbands and wives. By shifting the role that’s men doing house hold work and women earning from outside has shown significant reduction in divorce rates.
Some sociologists and economists argued that economically gained women are always very selective in marrying. It is found that they will have more negotiating power. In US according to a study conducted by Center for American Progress found that financial independence of women put more risks in divorce cases. However a study conducted by University of Wisconsin mentions even in dual earning couples there are women doing all sorts of house hold jobs. So it is not possible to conclude that financial earned women are threat or relief. Different study shows different types of results. Even after interchanging the roles one cannot assure everything will fine. Its all depends on mutual understanding by both and doing their roles properly. Then up to an extent no problems arise in their relationships.
Divorces and money
Money and divorce has got interrelations in representing the economics of relationship. Money often can be one of the primary reasons for divorce. To be an extent there may be other rooted personal issues for divorce but up to certain limit money also plays a significant role in divorce. Divorce surely put one in emotional state of affairs. When spouse walks out from the house after living for long years will surely put one in very bad state. While go for a search in history it is found that love and money are two important forces that stay behind marriage. Some will marry for love and some for money. For example George Washington marries only for money. However, he is very caring and loving husband.
The reason may be plenty for divorce even sometimes money may be an important reason. But real fact of money pops up when one self need to end up the marriage life. That is when one needs to live separately. Many of them were “inspired by the financial confusion they faced when their marriages were ending” (Your Money: Experienced in Love and Money). Money will in flow in different ways. When two people divorce and put break up in their marriage all sorts of savings that have for future will results in a major impact for the children and for couple itself. The first and major impact will be the cost arises for divorce itself. Since marriage is considered to be the civil contract between two people there arises series of legal process behind it in order to dissolve it. If it is just a divorce and no child issues involved then cost for divorce will restricted only in court and document filing fees. However if child is also involved in the case then attorneys and other professionals are needed to be included for handling the case between the two and thus the handling charges or price needed to spend in the court will be very high. Another cost factor arises at the time of dividing the asset between two. It is not possible to divide the entire asset but some asset can be easily divided. For example car. One person will get the asset, so he/she need to come up with money to buy the car. One real factor lays here is car never get the market price. So it will result in ones economic loses. This is one way, another way is to sell the asset to outside and share the price got for that asset between two. This also results in economic loss, as mentioned earlier market value getting for the car will be very less here also while comparing with the actual amount. This will results in another economic loss for the divorcing couple.
The economic factors won’t end up just because all kinds of procedures end up in the court. Some more extra economic factors come into play just after having divorce. Before getting divorce couples are living in one home, now they need to two live in two separate dwellings. This means both needs to separately spend for dwellings. So money spending will be twice the amount they spent up to that time. Not only had this they need to spent separate amount for furniture and all sorts of household items. So in short expense will be in top most position for both. If children are involved then expense will be much higher. The additional costs are required in order to look the children. Both of them need to spend some amounts for children. If two are living in the same city financial matters are not so high for dropping and picking up of the children. If two are living in two countries then economic factors for dropping and pick up of a children are considered to be major issue and the price one need to spend for this must be very high. In case of joint custody which is often common, divorce people under some sorts of limitation. In this case they do not need to go far and this will result in putting bar in individual career and their high income opportunities. Thus there is a huge interrelation between divorce and money.
Works Cited
Parker-Pope, Tara. Fashion & Style: She Works. They’re Happy. The New York Times. 2010. Web.
The Costs of Being A Gay Couple Run Higher. The Huffington Post. 2009. Web.
Your Money: Experienced in Love and Money. 2009. Web.
Your Money: The High Price of Being a Gay Couple. The New York Times. 2009. Web.