1 00:00:00,080 --> 00:00:00,720 Speaker 1: It's true. 2 00:00:00,800 --> 00:00:04,440 Speaker 2: Evidently research has found there is a spike in divorce 3 00:00:04,640 --> 00:00:07,960 Speaker 2: in January. Jack O'Donnell is a lawyer and CEO of 4 00:00:07,960 --> 00:00:10,240 Speaker 2: the family law and a state finance company, just Fund. 5 00:00:10,280 --> 00:00:13,880 Speaker 2: He's joining us to tell us what he knows. 6 00:00:13,920 --> 00:00:18,520 Speaker 3: Good morning Jack, Jack, morning gooy. Thanks having me on, Thanks. 7 00:00:18,239 --> 00:00:18,960 Speaker 2: For joining us. 8 00:00:19,040 --> 00:00:19,880 Speaker 3: Is this true? 9 00:00:20,079 --> 00:00:22,480 Speaker 2: There is a spike in divorce in January. 10 00:00:23,840 --> 00:00:27,000 Speaker 3: It's true. So anyone that works in the family law 11 00:00:27,040 --> 00:00:30,600 Speaker 3: space in Australia knows that. Kind of the middle of 12 00:00:30,680 --> 00:00:33,239 Speaker 3: January onwards through to that about the middle of February 13 00:00:33,280 --> 00:00:37,320 Speaker 3: is called divorce season. Unfortunately, season when and it's when 14 00:00:37,479 --> 00:00:43,200 Speaker 3: in inquiries of family lawyers spike due to people taking 15 00:00:43,200 --> 00:00:46,240 Speaker 3: that very very important but often sort of shout decision 16 00:00:46,280 --> 00:00:47,720 Speaker 3: to to separate from their former partner. 17 00:00:47,720 --> 00:00:48,040 Speaker 1: That's right. 18 00:00:48,120 --> 00:00:52,040 Speaker 2: So what is driving the January thing? Is it a 19 00:00:52,479 --> 00:00:55,880 Speaker 2: sort of an end of year evaluation of life? 20 00:00:56,000 --> 00:00:59,120 Speaker 1: Is it a cleanout? A cleanout of your life from 21 00:00:59,240 --> 00:01:01,720 Speaker 1: this finance? Is resolution? 22 00:01:01,920 --> 00:01:05,319 Speaker 2: Because the credit card statement came in after Christmas? What's 23 00:01:05,400 --> 00:01:05,800 Speaker 2: going on? 24 00:01:06,640 --> 00:01:09,360 Speaker 3: I think I think it's it's all. It's it's a 25 00:01:09,360 --> 00:01:11,679 Speaker 3: lot of what you said there. So we conducted we 26 00:01:11,760 --> 00:01:14,880 Speaker 3: conducted some research. At the end of last year, we 27 00:01:15,000 --> 00:01:17,479 Speaker 3: surveyed a thousand couples to understand the health of their 28 00:01:17,480 --> 00:01:22,120 Speaker 3: relationships leading into Christmas, and the findings were pretty confronting. 29 00:01:22,160 --> 00:01:24,440 Speaker 3: So what we found is that only half of Australian 30 00:01:24,480 --> 00:01:26,440 Speaker 3: couples were actually looking forward to spend in the summer 31 00:01:26,440 --> 00:01:30,000 Speaker 3: holidays some holidays together this year. And so I think 32 00:01:30,080 --> 00:01:33,280 Speaker 3: what that means is that for the other half, you 33 00:01:33,319 --> 00:01:35,560 Speaker 3: know that that time of year after Christmas and then 34 00:01:35,640 --> 00:01:38,200 Speaker 3: in early January provides that rare chance and people have 35 00:01:38,319 --> 00:01:41,280 Speaker 3: time to maybe to stop forget what day of the 36 00:01:41,280 --> 00:01:43,200 Speaker 3: week it is, and reflect it on the year that's been, 37 00:01:43,720 --> 00:01:45,760 Speaker 3: and I thinks really carefully about I think really carefully 38 00:01:45,760 --> 00:01:47,320 Speaker 3: about the year that's coming. And so I think that's right. 39 00:01:47,360 --> 00:01:50,120 Speaker 3: I think the new year brings a time to make 40 00:01:50,160 --> 00:01:53,400 Speaker 3: some decisions. We also found this year, though maybe what's 41 00:01:53,400 --> 00:01:56,680 Speaker 3: a bit different is it's cost of it's cost of 42 00:01:56,720 --> 00:02:00,960 Speaker 3: living pressures that's actually driving tension and on flicting relationships 43 00:02:01,000 --> 00:02:03,120 Speaker 3: and actually driving separations sadly. 44 00:02:03,000 --> 00:02:05,919 Speaker 1: So that's adding to it. You know, it's obviously getting 45 00:02:05,920 --> 00:02:08,840 Speaker 1: worse because the cost of living pressures are getting worse, 46 00:02:09,880 --> 00:02:10,359 Speaker 1: that's right. 47 00:02:10,440 --> 00:02:13,600 Speaker 3: So we found seventy one percent of Australians believe that 48 00:02:13,680 --> 00:02:16,640 Speaker 3: financial pressure is now the number one reason relationships break down. 49 00:02:16,800 --> 00:02:18,519 Speaker 3: So I think that's right now this is now the 50 00:02:18,600 --> 00:02:19,320 Speaker 3: number one cause. 51 00:02:19,680 --> 00:02:22,760 Speaker 2: But what I mean, do they think that their financial 52 00:02:22,760 --> 00:02:25,799 Speaker 2: pressure is going to be less if they split? 53 00:02:27,280 --> 00:02:29,840 Speaker 3: It's it's a really good question. I think it's obviously 54 00:02:30,160 --> 00:02:35,160 Speaker 3: the just the actual the dynamics within the relationship. Yeah, 55 00:02:35,480 --> 00:02:40,400 Speaker 3: I think, and the tension and what's leading to arguments 56 00:02:41,040 --> 00:02:45,040 Speaker 3: and greater stress is the dynamics within the relationship. I 57 00:02:45,040 --> 00:02:47,360 Speaker 3: think you're entirely right. I mean, we know that separating 58 00:02:47,440 --> 00:02:52,120 Speaker 3: is financially can be incredibly challenging people and certainly doesn't 59 00:02:52,639 --> 00:02:55,280 Speaker 3: know doesn't put people in necessarily a beteficient So you're 60 00:02:55,280 --> 00:02:55,840 Speaker 3: absolutely right. 61 00:02:55,919 --> 00:02:58,640 Speaker 2: Do you ever feel like maybe that whole the cost 62 00:02:58,680 --> 00:03:01,320 Speaker 2: of living, the financial so just perhaps a little bit 63 00:03:01,320 --> 00:03:03,160 Speaker 2: of an excuse so to have to say I don't 64 00:03:03,520 --> 00:03:03,920 Speaker 2: like you. 65 00:03:04,240 --> 00:03:09,040 Speaker 1: Yeah, you're a You're a spender and I'm a saver 66 00:03:10,440 --> 00:03:15,280 Speaker 1: because on the same yeah. Yeah. 67 00:03:15,360 --> 00:03:17,840 Speaker 2: Is there a specific Is there an age group that 68 00:03:18,280 --> 00:03:21,240 Speaker 2: particularly features in this January spike? 69 00:03:22,280 --> 00:03:26,240 Speaker 3: Yeah, so it's the age of thirty five to forty four, 70 00:03:26,960 --> 00:03:30,720 Speaker 3: which maybe isn't a huge surprise when you think about 71 00:03:30,760 --> 00:03:33,919 Speaker 3: what people in that age bracket are going through. They're often, 72 00:03:34,360 --> 00:03:37,640 Speaker 3: you know, often they have young children, they're juggling their careers. 73 00:03:38,480 --> 00:03:40,320 Speaker 3: We're finding a lot of people in age bracket are 74 00:03:40,320 --> 00:03:43,920 Speaker 3: starting now to have to care for elderly and aging 75 00:03:44,000 --> 00:03:46,720 Speaker 3: parents as well. And I think, I think that leaves 76 00:03:46,960 --> 00:03:49,160 Speaker 3: that doesn't leave a lot of time to focus on 77 00:03:49,200 --> 00:03:52,160 Speaker 3: their relationship. And so we found that only four in 78 00:03:52,280 --> 00:03:56,240 Speaker 3: ten couples age between thirty five and forty four thought 79 00:03:56,280 --> 00:03:58,000 Speaker 3: their relationship was in a good place right now. 80 00:03:58,800 --> 00:04:03,560 Speaker 1: Wow, that's encouraging. Wow, that's scary, isn't it. 81 00:04:04,040 --> 00:04:05,760 Speaker 2: Well, it's interesting. 82 00:04:06,000 --> 00:04:08,280 Speaker 1: Yeah, it explains a lot. 83 00:04:08,520 --> 00:04:10,560 Speaker 2: I guess we should let you go, Jack, because you're 84 00:04:10,560 --> 00:04:11,640 Speaker 2: obviously quite busy. 85 00:04:11,760 --> 00:04:12,760 Speaker 1: You've got a lot of paperwork. 86 00:04:13,640 --> 00:04:15,120 Speaker 3: You've got inquiries to field. 87 00:04:15,360 --> 00:04:18,320 Speaker 2: Got yeah, got people to sort out. Thanks for joining 88 00:04:18,400 --> 00:04:19,080 Speaker 2: us this morning. 89 00:04:19,880 --> 00:04:22,880 Speaker 1: Thank god, the bricketitank, Jack, Thanks for explaining it. Yeah, 90 00:04:22,960 --> 00:04:25,080 Speaker 1: so there you go. So it's a real thing. Oh, 91 00:04:25,120 --> 00:04:28,880 Speaker 1: it's a real thing. January. Yeah, lots of inquiries coming in. 92 00:04:29,000 --> 00:04:32,440 Speaker 2: It's probably mostly people sitting there and going it's January. 93 00:04:32,680 --> 00:04:34,440 Speaker 2: I don't know if I could take another year of this. 94 00:04:34,520 --> 00:04:39,119 Speaker 1: Yeah, all the reasons behind it, and January just seems 95 00:04:39,200 --> 00:04:43,440 Speaker 1: like the time. Yeah, maybe you yourself, not you, but 96 00:04:44,320 --> 00:04:48,400 Speaker 1: specific me, but maybe maybe you know you found that 97 00:04:48,720 --> 00:04:53,800 Speaker 1: January coincidentally is when you decided to, you know, go 98 00:04:53,880 --> 00:04:56,200 Speaker 1: your own way. Yeah, as Fleetwood Mac would. 99 00:04:56,000 --> 00:04:58,000 Speaker 2: Say, have you yeah, have you? 100 00:04:58,080 --> 00:04:58,800 Speaker 1: Have you done this? 101 00:04:58,920 --> 00:05:01,680 Speaker 2: Give us a call on Edge twenty five two or 102 00:05:01,800 --> 00:05:05,200 Speaker 2: six something more petty zero four seventy six ninety six, 103 00:05:05,360 --> 00:05:06,680 Speaker 2: ninety six ninety six. 104 00:05:07,120 --> 00:05:08,919 Speaker 1: If you're happy to share, we'd love to hear from you. 105 00:05:08,920 --> 00:05:10,159 Speaker 2: We'd love to hear from you. 106 00:05:10,400 --> 00:05:14,000 Speaker 1: Please fill us in January divorce. There you go, it's 107 00:05:14,160 --> 00:05:14,600 Speaker 1: a thing.