How to Avoid Inessential Spending During Divorce

Posted on December 11, 2014 04:25pm
How to Avoid Inessential Spending During Divorce

Going through a divorce is emotionally taxing. Unfortunately, your psychological well-being isn't the only thing at stake; research suggests that post-divorce overspending is problem for many people, too. Some spending, such as legal costs, are a worthwhile investment and simply part of divorce logistics. Others are unnecessary and may be the result of emotional unrest or lack of planning.

Here are a few inessential expenses to avoid during and after divorce:

Spending too much money on your children.

After a divorce, you probably won't have as much time with your children. Additionally, your kids may feel a sense of abandonment or betrayal while they adjust to life without married parents. During this time, it's easy to spend money on your children because you feel guilty. There are two problems with this scenario: it places strain on your bank account and it shows your children that material possessions and "fun" things equate happiness.

Buying a makeover you can't afford right now.

Divorce will alter every aspect of your life, and many of these changes will be positive. After ending a marriage, you may feel like changing your physical appearance. This is completely normal, but a complete makeover might be impossible with your current budget. Focus on making positive changes that are within your budget.

Pouring too many resources into your house.

Regardless of where you live after your divorce (the family home or a new location), it will be easy to invest too much money into changing your surroundings. This is particularly true if you remain in the marital home, which is closely associated to your marriage. While some purchases, updates, and improvements are a good thing, it is important to refrain from spending more money on your home that you can afford.

Paying for meals / services instead of assuming new chores.

Most married couples divide household tasks and chores. One spouse might cook, while the other cleans or maintains the yard. After a divorce, you might feel overwhelmed without someone there to help you with the tasks that were not your responsibility. If your spouse cooked, for example, you might be tempted to overspend on prepared meals and take-out. Instead, take the opportunity to develop new interests and skills instead of emptying your bank account.

How an Attorney Can Help

A Washington family law attorney can help you get the best divorce settlement for your unique circumstances. In the long run, a fair divorce will help you maintain your financial security. For additional information about the legal team at McKinley Irvin, please contact a representative from our law firm. We have served clients for more than 20 years and can put our experience to work for your case. Connect with our divorce lawyers in Washington today.

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