Going through a divorce is stressful enough, you don’t want to add more stress into the situation by burdening yourself with money problems. The time surrounding a divorce is either an emotionally rough time or possibly a happy time. But one thing is for certain: it’s a time to focus on you, not financial stresses.
The best way to relieve any financial stress during a divorce is to follow some simple tips on how to save money in a divorce. Continue reading to learn more!
1. Close Joint Accounts or Cards
Review your soon-to-be ex-spouse’s finances and ensure that you’re aware of any assets that he or she disclosed. You’ll also want to close any joined or linked accounts or credit cards that you have with him or her. This is the best way to be certain that no fraudulent charges or practices are done against you.
Even if you’re not worried about your soon-to-be ex-spouse stealing from you, it’s always better to be safe than sorry.
2. Consider Seeing a Therapist
Divorce is a confusing time, and many things might come up that you weren’t expecting. It’s not uncommon for those going through a divorce to turn to their lawyer every time they need a listening ear. However, these calls can be quite expensive and can add up pretty quickly.
Choosing to see a therapist will save you money in the long run and will always be there to guide you through tough times.
3. Don’t Spend Your Time Fighting Over Little Things
The quicker you and your ex can agree on the little things, the quicker the process will end. The time that you waste on bickering back and forth about minute issues, the more money that you’ll have to spend. You should always communicate your wishes, but remember to keep them realistic and be ready to compromise.
4. Always Keep Open Communication
As mentioned above, always keep open communication. Be sure that it’s progressive and respectful. Do be honest about any debts, or assets that you owe or own.
This remains necessary even if the amounts are small. This will save you both time and stress. And you’ll be able to fairly divide all property.
5. Work with Awesome Divorce Mediators
Divorce mediation, in most cases, is quicker than litigation and ultimately saves you money. If you find yourself in a complicated divorce situation, it may be beneficial to work with a divorce mediator. Divorce mediators help to resolve and negotiate and issues that come up during the divorce process.
This is the alternative of divorce court, and you can find some courts that offer lower-cost divorce mediators.
If You Can’t Save Your Marriage, Then Save Money in a Divorce
You’ve already come to terms with letting go of your marriage, don’t let go of your money as well.
Follow these 5 tips above to save money in a divorce. And for more ways to save big bucks, be sure to check out our section on Money Saving!