Money For Lunch – The Hidden Cost of Divorce

The Hidden Cost of Divorce

September 1, 2017 10:08 AM0 commentsViews: 2

 

If you are thinking about getting divorced, then you must know that the whole process is an expensive affair. Legal fees, property division and children’s expenses are just the top of the pile. There are many hidden costs too, which you may not be aware of. Not to mention the emotional cost of the process. If divorce is a serious possibility, here’s what your separation could cost you.

Paying your lawyer

Legal fees are what you have to pay to your lawyers, and is one of the major — and unavoidable — costs involved in divorce. If you’re thinking of getting a divorce, you should get in touch with Prime Family Lawyers who will give you an estimate of the cost you’d have to shell out.

Buying / renting a home

As you cannot stay together any more, the one who moves out will have to buy or rent another home. As for the spouse continuing to live in the marital home, the household expenses would increase, as they will no longer be shared between two people. You’d also be probably redecorating to help erase the unpleasant memories associated with your marriage.

Buying another car

You may have to purchase a separate car, if you don’t already have one, and that is another cost added to the list.

Real estate agent fees for selling home

If you plan to sell your present home and relocate after divorce, you’d have to pay quite a bit of money to the estate agent.

Holiday after divorce

The trend now is to celebrate your new found freedom. Many new singles go on holidays after a divorce and if you’re planning to do that too, then you must consider this cost too. Holidays abroad may be quite relaxing and cheerful but top the list of hidden expenses.

Getting a makeover

If the thought of your marriage makes you nauseous, you’d like to change everything, including the way you look. Rehauling your wardrobe, splurging on new clothes and jewellery, getting a smart new haircut and anything else which would complete your makeover will cost you a pretty penny.

Learning a new skill

As you may have some free time on your hands, and you want to start afresh, you may take up a new skill or hobby, one which you were always interested in.

Getting a life coach

To get over the emotional trauma and get back on your feet, you might need the help of life a coach, which translates to another extra cost arising out of divorce.

Divorce has both financial and emotional costs, but you don’t realise all the financial costs involved, as you just want get over with the whole thing. Do seek proper financial planning and be prepared to arrange for the costs that are to come not only during the divorce process, but long after it.

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