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Money-saving tips to prevent your divorce from breaking the bank

We have all heard that divorce can be very expensive, but it doesn't always have to be that way. In fact, there are many money-saving techniques that can help cut costs during the divorce process, as a recent article from Fox Business explained. First, the article said that it is important to establish a divorce budget and stick to it. This will help prevent costs from getting out of hand when your emotions are running on high.

Next, the article said that it is most cost-effective to avoid going to court whenever possible. The litigation process, although necessary in some cases, is what often drives up the cost of getting a divorce, so other options should be considered first. One of these options is mediation, which can assist the parties in reaching a mutual agreement through a facilitated negotiation process.

In addition to setting a budget and avoiding court when possible, the article said that simply taking a reasonable approach to the divorce can be one of the best money-saving techniques. Oftentimes, couples get caught up with emotions and end up paying thousands of dollars to fight over things that don't really matter. In other cases, couples rack up expensive divorce bills by refusing to find common ground with important issues like child custody.

But that isn't to say that you should be a push-over, either. The article also said that it's important to find a family law attorney who can help you be strong and stand up for your case. Some people make the mistake of trying to represent themselves thinking it will be worth the money they save. Unfortunately, these individuals often regret the decision when they realize they made a bad deal or an unresolved issue shows up later to haunt them.

These are all good tips for saving money during a divorce. For more ideas, talk to your divorce lawyer.

Source: Fox Business, "How to Make Your Divorce Cheaper," Andrea Murad, May 16, 2013

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