Wednesday, February 20, 2013

Living beyond your means during marriage usually means an extra devastating divorce

Divorce will turn an already shaky financial situation into an unmitigated disaster.  If a couple can barely meet their expenses while living under the same roof, imagine the havoc that supporting two separate households will cause.  Additionally, sometimes people spend more than they make and have nothing to show for their earnings.  The house may be beautiful - but has no equity.  The furnishings are bought on credit and wear out before the credit card bill is paid.  Every cent of income goes towards maintaining on-going expenses so the family saves little or no money.  In these scenarios, divorce usually causes a stark change in lifestyle -- from lavishness to austerity.  It can even take years to recover.  But you can get through this.

For a touching, yet painful, story of one woman's journey, check out My Celebrity Marriage Left Me $4 Million in Debt.

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