When you know your marriage is coming to an end, one of the main things you have concerns about is how much it will cost. The financial impact of your divorce does not need to completely destroy you. It is true that it can be quite expensive, but there are plenty of ways to keep the costs minimal.
If you have fears about financially surviving your divorce, do not worry. Here are some guidelines you should follow to save money as your marriage breaks up.
1. Focus on negotiation
Contrary to popular belief, divorcing does not need to involve nasty conflicts. When you and your spouse try to compromise instead of fighting about every detail, things will go much faster. Litigating your divorce for months or even years on end will completely wreck your finances. Negotiating and mediating your divorce is easier on your wallet and your emotional well-being.
2. Do not fight about the small things
You may find it tempting to do things out of spite. In reality, do you really care about that coffee table? You can easily get caught in the trap of spending thousands of dollars arguing about something that you do not really want. If you really do not care about something, do not waste your time or money. Focus on the most valuable assets–and most importantly, the bigger picture.
3. Forget having the last word
Making a point and irritating your spouse will only rack up legal fees. While your partner may annoy you and you have an urge to be right, you do not need to have petty arguments. By always trying to have the last word, you will only prolong the process and spend more money.
Divorce will always affect your personal finances to some degree, but following these tips will help you save some dough while you separate.
For more information, contact Louis Wm. Martini, attorney at law.