Together Can Be Cheaper Than Apart
Posted By Posted by Joanna Chapman on Nov 7, 2011 7:15am PST || Nov 7, 2011
It comes as a shock to many couples going through a divorce. Suddenly the money you and your family once lived on comfortably isn't going as far.
When a spouse moves out of the marital home, often new expenses associated with additional housing become necessary. Rent, utilities, and insurance for a second home can be a significant expense. If the family budget does not have much cushion from month to month, this new expense can add to the stress of an already emotional time. Both parties often feel they should not have to change the way they live, but the simple fact remains that you and your spouse are now maintaining two households on the same amount of collective income.
If you are considering filing for dissolution of marriage, prepare yourself for this likely reality and come up with a plan to secure financing for these expenses or work with your spouse to reduce other aspects of the family's budget.
If you and your spouse are unable to agree on how to provide for this new circumstance, you can sink deeper into debt or begin dissipating savings and other assets. An experienced family law attorney can assist you navigate the options available to you.
The sooner both spouses can embrace the idea that their family's money is going to have go further than it once did the better off their overall financial health will be.