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How to cut costs during divorce

When you split from your spouse, you will undoubtedly need to work through several different matters, and doing so can cost you a substantial amount of money. Spending a ton of money on the divorce process, however, often leaves little to put toward a new home, a new car or other things you may need once you and your ex go your separate ways. Therefore, you may consider keeping divorce-related costs low a main priority.

Luckily, you can take several steps to help reduce how much your divorce costs you. For example, if you look to lower costs associated with your divorce, consider:

Opting for mediation

Mediating your divorce, which involves having you and your ex meet with an unbiased third party who can help you work through asset division and similar processes, can cost substantially less than a traditional courtroom divorce. In fact, according to one estimate, a mediated divorce can cost about $500, while a litigated divorce can run you as much as $32,700.

Letting the little things go

The more you and your partner disagree over certain assets or decisions, the more your divorce will ultimately cost you. So, resist the urge to get the last word, and avoid fighting over the silverware, fine china and so on. Often, the money you save by not bickering over every last asset can help you purchase new items you can use as you move forward with your life.

Staying mindful of fees

Divorce is almost always emotionally taxing, but it can serve you tremendously well to call a friend or confidante, as opposed to someone working to represent you, when you need to vent. Rather than pay potentially expensive hourly rates anytime your ex rubs you the wrong way, ring up a friend or even your therapist instead.

Divorce can wind up costing you a hefty sum, but it does not have to be this way. The more money you can save amid your split, the more you will have at your disposal once you embark on life on your own.

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