Tag Archives: Money

Divorce costs a lot, yet there are ways to cut expenses

torn piece of paper with divorce text and paper couple figuresThe cost of filing for a divorce can be just as expensive as marriage, although the latter can be quite daunting as it often catches you by surprise.

Marriage requires you to spend the time to prepare a budget. On the contrary, some people may not afford to be divorced, simply because it would be strange to establish a budget for it long before the marriage turns sour.

Cost Cutting

Despite the significant costs, there are ways to reduce the expenses related to your divorce. If you live in Colorado, finding the right divorce attorney in Boulder will require you to scout for many lawyers before knowing which one fits your budget.

Some lawyers may allow you to pay fees based on an installment plan, which will be very useful for those that are unable to pay upfront charges. Others also agree to work on a limited scope representation, such as only appearing in court to represent you in a single hearing. In the end, you ultimately decided the best cost-cutting measures for your case. The high cost of divorce could be one reason why more Americans have decided to remain single.

Expensive Vows

Opportunity America and the American Enterprise Institute’s research showed that married life has become a mark of social status, amid a huge gap in the marriage rate between the rich and poor. The marriage rate for poor Americans aged 18 and 55 years old sharply fell to 26% from 51% in 1990.

While money seems to be the main issue, there are other reasons for the drop in marriage rates. For instance, there are fewer jobs that can support marriage for young adults without college degrees, according to Andrew Cherlin, a sociologist at Johns Hopkins University.

Conclusion

Divorce will require you to spend money, which is why you should be financially and emotionally stable before embarking on a plan to tie the knot.

Report: More Americans Decide to Stay Single to Save Money

Lady with money bills on her right hand and a gold bar on her left handCompared with data from 10 years ago, more Americans have decided to stay single due to financial uncertainty. This is according to Pew Research Center’s analysis of data from the US Census Bureau.

In 2007, the data showed that 39% of all adults in the U.S. lived without a partner or spouse. It has risen to 42% in 2017. The trend has been prominent among people under 35 years old. Researchers consider an estimated 61% of them to be “unpartnered” compared with 56% over the past decade.

Cost Savings

The increase of more adult singles stemmed from their lack of financial confidence. This is according to Kim Parker, director of social trends research at Pew Research Center. However, it also indicated that people today are more conscious of becoming financially prepared before exchanging wedding vows.

Regarding divorce as a contributing factor, the Pew analysis has suggested that it had nothing to do with the growing number of single adults over the 10-year period. But, it may be too early to say that it has no influence. Parker noted that divorce rates among baby boomers and older adults are on the rise. The type of job that you have could also determine the likelihood of a divorce.

High Divorce Rates

Gaming managers are the most vulnerable to a divorce with a 52.9% rate. The reason behind this involves their constant exposure to a party atmosphere, gambling, and alcohol. All of those could strain a marriage.

The place where you live could also be a factor. Gaming managers in Atlantic City, New Jersey, may be more likely to need legal counsel. This is in comparison with those seeking an Albuquerque divorce lawyer in New Mexico.

The increase of adult singles hints on some people’s choice of becoming financially and emotionally stable before marriage. At the same time, the census data should conclude that more people are unhappy due to the absence of a partner or spouse.

Trusted Lending Companies

Money Talk: Handling Unplanned and Unexpected Expenses

Trusted Lending Companies in Salt Lake CitySome expenses come out of nowhere and leave you panicking trying to figure out how you’ll get a specific amount in the shortest time possible. Whether you’re living alone or with your family, unplanned and unexpected expenses may create chaos to your budget and future plans. Knowing how to handle them is the key. Here are some ways you can try:

  1. Identify All the “What Ifs” – No matter how much you prepare, you can’t exactly tell what financial problems will come. Even if this is the case, you should still do it. Who knows, the preparation you made may lessen the burden because you’re part ready no matter what expenses might come.
  2. List Trusted Lending Companies – There are emergencies that leave you no room to look for possible sources of cash. Experts recommend making a list of trusted lending companies in case you need money within 48 hours. Whether it’s a Salt Lake City title or signature loan, all you need is to make sure you’re transacting with a legitimate and reliable lending company.
  3. List Items You’re Willing to Let Go – Unexpected expenses don’t always demand for immediate payment. If this is the case, then you should have a list — including photos — of the items you’re willing to sell in case of emergency. A list of potential buyers might also help.
  4. Open Multiple Savings Accounts – Open a new account and set aside some of your money for unexpected expenses. You don’t have to do this regularly; simply make sure you’re putting money in it whenever you can. Having separate accounts is helpful because you’re less tempted to splurge on items and services you probably don’t need.

Money problems can be a major headache, but you can avoid this with the simplest preparation. Find out which works for you to know how to deal with the situation efficiently and successfully.