One of the universal misconceptions about divorce is the idea that it will be over quickly. Then all the parties can get on with their lives as though nothing happened.
In fact, your divorce can cost more money and take a longer time to settle than you ever imagined. For many couples, the whole process usually takes one to two years-even simple divorces that both parties thought would take only six months. The cost can range from several hundred dollars to several thousand.
To understand the costly nature of divorce, you must recognize the high price of splitting one economic unit in half. On the surface, an equitable property division would seem to mean each person walks away with half of what was shared by two, and is therefore left with enough to support one. But in the mathematics of divorce, the equation does not work out that way. Spouses have unequal salaries and earning potential. And many people today live beyond their means.
When it comes time to divide one household into two, there is rarely enough money to go around. That holds true as much for young married couples with little property as it does for wealthy couples with assets accumulated over many years. When a catastrophic event such as divorce hits, the fragile economic base for these couples is torn apart much as an earthquake loosens a house from its foundation, leaving everything in disarray.
Recognizing that everything takes longer and costs more can help you through those moments when you are suddenly faced with an unexpected debt or an unwanted delay in your divorce.
Maybe you have gotten used to the idea that your divorce will cost you dearly. What do you do with that knowledge? Be willing to accept a change in your lifestyle. Face it, you may have to borrow money, move, get a second job, or buy a used car instead of a new one. Be prepared for an economic pinch, at least for a while.
You will have to resist the very understandable temptation to splurge when your marriage is ending. The fact that you have to prepare for lean times also means that you must pay special attention to each financial decision you will make in divorce. In the end, the expense of the divorce itself means you must begin conserving your financial resources now.
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