Most people who get separated or divorced experience significant financial changes. Usually, this new financial reality involves having less money.
There are many reasons why this might happen:
- Legal bills can be costly.
- Instead of sharing costs, you and your former partner will both have to pay for things separately.
- It’s more expensive to run two households than one.
- If you have children, you will also need to make sure their financial needs are met.
Learn more about some of the financial considerations related to separation and divorce, including what you should know: