Although they may not admit it, men feel a considerable amount of financial pressure in the midst of divorce. On the one hand, they may be happy that they are free of a troubled marriage, and are eager to move on with life. On the other hand, they may be unaware (and thus unprepared) for the financial issues that may come up.
Some are very concerned about affording alimony payments, others may be vexed with the prospect of child support. A small group may be ashamed of even asking for financial support. Because of these real (but often ignored) issues, this post will focus on financial considerations men must be aware of during a divorce.
Know how much it will cost – The costs of a divorce (and the cost of life after a divorce) are critical questions that must be answered as soon as possible. It is prudent to understand not only the costs of hiring an attorney, but having an idea about how much it will cost to resolve the unique issues in your case is key.
Focus on dividing things equally – Depending on the emotional issues in your relationship, it may seem natural to cut bait and start over…essentially ceding all the assets you have in order to avoid a legal battle. However, the law calls for equitable distribution for a reason, so that parties have a fair share of marital assets when the relationship ends.
Avoid emotional expenditures – While it is normal (and ok) to be angry or hurt, it is best not to let these emotions turn into irrational purchases.
Source: TheWeek.com, 8 financial tips for men getting a divorce