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Financial mistakes to avoid in a divorce Add to ...

1) Believing your lifestyle will remain unchanged

Switching from one household to two means you will need to curtail some of your activities. Trying to maintain the same lifestyle as before will lead to financial headaches.

2) Fighting tooth and nail for the house

A house that was the right size for a nuclear family might not be the right size after a divorce. It can also be unaffordable.

3) Making decisions with your heart, not your head

Emotional victories can turn into financial nightmares. Avoid making a financial gesture in the settlement that can leave you shortchanged. And motives of revenge can negatively impact children for years to come.

Follow on Twitter: @preetbanerjee

 

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