Tighten spending or risk losing more in divorce
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Tighten spending or risk losing more in divorce

by | Mar 29, 2019 | Property Division |

Going through a divorce is never easy. Even if you knew it was coming you still might struggle with the idea of ending the marriage. Either way, you need to be prepared for all that comes with getting a divorce in Elizabethtown. One way to prepare for divorce is to tighten your spending. If you continue to spend money on items that are not necessities, you could risk losing more in the divorce.

When getting a divorce, you need to monitor your spending more than you’ve ever done in the past. This will help reduce the amount of money you will need to pay your spouse in alimony or have to divide between the two of you. Only spend money on the following necessities and do so in moderation:

  • Housing
  • Clothing
  • Food
  • Insurance
  • Vehicle

Things can easily get out of control when spending money on the basic necessities. For example, don’t go out to eat multiple times per week during a divorce. Go to the grocery store and buy the ingredients for your meals or buy prepared meals. Reducing the number of times you go out to eat or go to the bar will help.

It’s also a good idea to cut back on the clothing you buy. Unless you need to buy clothes for a promotion at work or because you’ve experienced a large weight loss or weight gain, try not to go shopping too often.

It’s bad enough that you will need to divide most of your assets with your spouse when getting divorced. Don’t make the situation worse by continuing to spend money on unnecessary purchases like a new car, artwork, sports collectibles and other items.