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How to Handle the Financial Stress of Getting Divorced in Missouri

You are getting divorced. No one told you how expensive this would be. All you wanted was out. Now you are out, the bills are piling up, you have no one to share those expenses with and you are trying to figure out how to get a handle on your finances. Some tips to consider from your divorce lawyer:

  1. Make a budget. If you still live together make a current and an anticipated budget. If you have already moved out, then make a realistic budget for what you currently must pay for. Figure out what expenses you can cut and how much you really need each month in order to make it work.
  2. Stop contributing to retirement. If you are currently contributing to retirement, it’s a good idea to stop those contributions while your divorce is pending. While you are contributing your spouse is getting half. You can always restart after the divorce is final but it’s not a terribly good idea to contribute to a retirement plan that you know will be equally divided at the end of the divorce case.
  3. Postpone trips and major purchases. Getting divorced? You will be paying an attorney so it’s not a good time to reward yourself with a big trip or to go out and purchase that new living room furniture you’ve always wanted.
  4. Consider a second job. Feeling bad about not having the kids all the time? Consider a second job on nights or weekends that you don’t have the kids. Temporary, seasonal jobs will not be included with respect to determining child support and picking up a temporary second job to help with the expenses of getting divorced is usually never a bad idea.

If you have questions about the financial stress of getting divorced in Missouri contact us because we can help.