Are you planning to file for divorce? Have you already filed the paperwork? If so, an unpleasant surprise for many couples is how expensive this can get. If you have a limited budget to work with, the tips here will help you get through your divorce without significant financial hardship. 

Work Together 

If it is possible, you should work with your spouse to handle the financial difficulties you face and that divorce causes. Make a plan for dealing with your current family and household finances. 

Sometimes, this is not possible without assistance. An attorney can help you work through the details of the divorce, or you can turn to a mediator, marriage counselor, or accountant. It is important to remember that running two households is much more expensive than one, and you both have to prepare for this. 

Avoid Terminating Lines of Credit 

You should make an agreement with your spouse regarding the use or limits on the use of your shared credit cards or lines of credits. This is important, but it is not a good idea to cancel or terminate them. After you terminate the credit you have, you may not be able to replace it. 

The same is true for home equity lines of credit. If you terminate the lines of credit that are currently in good standing, it will cause your credit score to fall, which means higher interest rates if you try to borrow in the future. Open credit cards or lines of credit will provide you with more flexibility in how your final settlement is structured. 

Consider How to Handle Your Home 

If you are in a situation where you will not be able to replace your home once it Is sold, you may need to consider a few alternatives. For example, what type of housing do you want for your family? Would it be possible for you to keep the existing home? 

Is it possible for you and your ex to live together in the same room? If not, you need to consider an arrangement that will not cause financial harm to either of you. This is another situation where an unbiased third-party may be able to help. 

Health Coverage Considerations

If you receive health coverage on your spouse’s policy or vice versa, you have to consider what you will do for insurance after your divorce. Try to think about this before completing the divorce to avoid going without insurance for you or your children. 

Saving Money During Your Divorce

When going through a divorce, there is no question things can get expensive. However, if you can work with your spouse, you will find that you can also save money on the proceedings. Being informed and knowing what to expect during the divorce will help prepare you for what is to come. Working with a divorce attorney can also help ensure that you get the desired results for your situation.