Friday, December 4, 2009

Financial Effects of Divorce


Posted by: Pete Hill


Now days, divorce is much more popular than it used to be. Approximately half of every marriage will end in a divorce. As a result, there are preventative tips to follow prior to marriage, during divorce, and after divorce.

The risk that any marriage will end in divorce is about 45 percent, according to David Popenoe, a professor of sociology emeritus at Rutgers University. The chances fall to about 40 percent for first marriages and decline further for college-educated couples, people from intact families and couples who share the same religion.

Most couples don’t realize that divorce can also be among the most ruinous financial moves anyone can make. Four talks to have prior to marriage are ancestors spending behavior, credit scores, control of payments, and affluence.
During the divorce, experts who went through divorce have come up with a list of tips to consider. These tips are: picking fights, keeping records, hitting the details, living nearby (with children), and limit overspending.

After divorce you get swept up in the rage, the disappointment and the worries, money will intrude. After a divorce, important aspects to consider are health insurance, mental health, credit, tax, hired help, keeping house, future legal costs, teenagers, and spousal education.

Sources:
http://www.nytimes.com/2009/10/24/your-money/24money.html?em
http://www.nytimes.com/2009/11/14/your-money/14money.html?em
http://www.nytimes.com/2009/11/21/your-money/21money.html?pagewanted=2&em


2 comments:

  1. When me and my wife separated through divorce, we had no choice but to settle arrangements when it comes to co-parenting. We have 2 young kids and we don't want them to suffer just because we needed to part ways. So me and my ex-wife are working hand in hand to take care of the kids. My wife also bought co-parenting planner/organizer from http://4help.to/parenting which really is of big help in this process. Hopefully we'll get things flowing smoothly as planned. Thanks for sharing this! :)

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  2. Robert, the website you recommended is really helpful. I ordered a planner at http://4help.to/kids which I might get in the mail next week! I am excited to use it. Thanks!

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