Divorces aren’t known for being affordable. If your divorce goes to court, you could end up spending thousands of dollars on court and attorney fees. However, filing for divorce can also have certain financial benefits. If you get divorced, you might find that you’re able to control your finances for the first time in years.
What are the financial benefits of filing for divorce?
Studies have shown that money troubles cause a large percentage of divorces. If you fall into that category, filing for divorce could actually be a relief. You won’t have to worry about your spouse spending your hard-earned money; instead, you can put it away in your savings or invest it. You can also use your money to pay off debts instead of spending it on frivolous purchases.
Filing for divorce can also reduce your expenses. Once you’re on your own, you’ll be responsible for your finances and no one else’s. You won’t have to worry about your former spouse’s car payment or student loan debt. If you have to move out of your house, you can downsize to a smaller property with a more reasonable mortgage. You’ll be able to focus on your priorities and make your own decisions without consulting your former spouse.
Who can help you file for divorce?
When it’s time to file for divorce, you may wish to hire an attorney. At first glance, this might seem like another expense. But an attorney may actually be able to help you save money by finalizing the divorce as quickly as possible. They may act as a mediator so that you and your former spouse can discuss the proceedings without going to court. Additionally, an attorney may help you divide your assets without sacrificing the bulk of your personal wealth.