How to cut costs during divorce

| May 27, 2019 | Uncategorized |

A divorce is going to take a financial toll on you, but you have some level of control over that toll. Not all divorces have to be long, contentious courtroom affairs. While where you live, geographically, will help determine just how much you spend on your divorce, so, too, will certain decisions you make about how to navigate the process.

While your divorce, itself, can cost a substantial amount of money, so, too, can rebuilding your life in the absence of your spouse. Finding and financing a new home, for example, is one such cost, and you will also no longer be able to split the cost of groceries and related expenses once you and your one-time partner split. So, what are some things you can do to cut costs and save yourself money amid divorce?

Consider mediation

Unless the situation between you and your former partner is particularly contentious, Forbes reports that you may want to think about whether you can end your marriage through mediation. Mediated divorces, which involve the two parties sitting down and working through issues with one unbiased mediator, typically save a lot of money. In fact, some estimates suggest that a mediated divorce can run you about $500, while a litigated divorce can cost $32,700.

Stop sweating the small stuff

In many cases, divorcing and dividing assets becomes more about who “wins” and less about each party in the marriage hanging on to the assets they truly appreciate. Fighting over every last decoration, wine glass and so on costs money, so “choose your battles,” so to speak, and save your fighting for the things you really care about.

Ultimately, the more you can take your emotions out of the equation, the better your chances at an affordable divorce. The less you spend on your divorce, itself, the more money you will have at your disposal as you embark on your new life.