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Focused, Dedicated, Determined since 1986

Inflation, other factors, can make standard of living costs rise

On Behalf of | Jun 6, 2014 | Alimony, Firm News |

California is a great place to live though some people lament the relatively high prices residents must endure for such necessities as groceries and gasoline. Compared to other parts of the country several markets in the state regularly fall onto national lists of the priciest places to make a home. A recent study by the Bureau of Labor Statistics suggests that costs are going up for people all over the country, including those residents here in Stockton.

The study suggests that Americans are making less but required to spend more than they were just a year ago. Costs related to transportation and housing consume most of Americans’ budgets with other expenses for consumables and other living expenses following the upward trend as well. These economic changes can cause a trickledown effect to impact the standard of living individuals enjoy, including those people who depend on spousal support to make ends meet.

Many factors can influence how a determination of spousal support is made and a person’s standard of living can play into how much financial support that person receives from a former spouse. That said, as overall costs increase the amount of money a person requires to maintain that standard generally also swells. When support payments remain stagnant in the face of inflation, individuals can feel the pinch of economic hardship.

Every property division and support determination is different and based on the situation of the particular family. Some agreements may end before rising costs impact court-mandated support awards. Others, however, may become insufficient when monthly payments are deficient to cover growing prices.

Individuals who are suffering from the squeeze of inflation and the pressures of a fixed spousal support payment can get help. Family law attorneys are trained to manage such important matters and to appropriately advise their clients of their legal rights. Some people are able to renegotiate their support agreements to accommodate for changing economic conditions.

Source: WCPO.com, “Expenses for families have gone up,” Ann Beiser, June 2, 2014