Divorce: It’s complex, stressful and ripe with negative connotations but it’s the reality for hundreds of thousands of couples every year, according to the National Center for Health Statistics.
Beyond the emotional burden of ending a partnership, divorce also comes with a slew of financial costs – from legal fees to child support to lost assets. But there are many expenses you might not be expecting that are important to budget for as well.
According to Katie Randall, financial advisor at Prime Capital Investment Advisors in Springfield, Missouri, divorcees should definitely build therapy into their budgets.
“This is crucial for yourself and possibly any children, depending on their ages or levels of difficulty they are experiencing navigating the change,” Randall says.