New York couples considering divorce have a lot of hard decisions to make. Oftentimes, emotions are super charges when you make the actual decision to divorce – but there’s a lot that people should consider before filing those papers.
How does your everyday life change?
Even after you’ve secured yourself financially, there are a lot of other ways that your life is going to change after divorce. Running a household by yourself – especially if there are children involved – becomes a lot more difficult.
Oftentimes, suddenly being in charge of a whole household can be a drain on already limited resources. It’s hard to juggle parenting, housekeeping and personal care while working full time.
What’s the biggest challenge of divorce?
Divorce is often a costly experience. Outside of lawyer and court fees, there’s the cost of moving and setting up your new life.
The cost of living is often more expensive for single-income households, which is what each party would be after the divorce. Many people don’t consider how their quality of life will change after the divorce, which can lead to overspending or worse.
One way to get around this challenge is by taking as much time as you can to financially prepare before filing for divorce. Start budgeting for your life on one income instead of two, and don’t forget to consider your finances down the road as it relates to retirement and healthcare costs.
How do you prepare for divorce?
It’s important to take time before the actual divorce proceedings to think about what you want your life to look like afterward. Oftentimes, the reality will look much different than what you picture – which is why divorce should be the last resort.
If you’re considering divorce even still, it’s important to make sure you have all of your ducks in a row before you file. Taking time to prepare yourself – both financially and emotionally – can make the process easier.