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Additional resources for Divorce & Money: How to Make the Best Financial Decisions During Divorce

Sample text

Remember, reducing stress means increasing your ability to make sound financial decisions. “No, We Can’t Afford It Now” Few parents enjoy denying their children toys, gifts, or other pleasures. During divorce, you may find yourself repeating the phrase, “No! ” more times than you care to count. Disappointing your children can only add to your level of frustration. But while you may want to protect them from harsh realities, you must also be honest and help your family adjust to the new circumstances.

Entering a showroom, you see the sticker price on a shiny new car. But that price is not the final one. ” You will have to pay taxes or other fees before you actually drive the car off the lot. And once you get the car home, you will have to spend money on insurance, registration fees, repairs, and maintenance. In divorce, however, many transactions are conducted as though the “sticker” price were the total cost. When it comes to property settlements, courts do not consider the taxes, maintenance fees, insurance, commissions, and other expenses that are a normal part of any money exchange today.

These three “gets”—plotting revenge, rushing through the divorce, or pushing for a reconciliation—will hamper your ability to think clearly and act in your own best interest. Check your attitude. Do any of the following sound like you? “I’m going to get even no matter what it takes. You’re going to pay for what you did to me. Just you wait. ” It’s normal to be angry during divorce, but if you’re using the “get even” approach, you’ll probably never be satisfied, even about a settlement that’s totally equal according to the numbers on paper.

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