Do I Have Enough Money to Get Divorced?

 Posted on June 12, 2025 in Divorce

According to a recent article, many Americans who want to get divorced are putting it off, thanks to the current economic environment. A full 62 percent of Americans say they live paycheck to paycheck, which leaves little extra money for a divorce. More than 37 percent of married people say they stayed in their marriage at least a year longer than they wanted to because of the cost.

Major breadwinners in a marriage may be unwilling to divorce a spouse and hand over a significant amount of their income for child support and alimony. At the same time, stay-at-home parents can be hesitant to leave the financial safety of their marriage, no matter how untenable the relationship may be. In an effort to save money on the divorce, some couples will decide that a DIY divorce using internet forms will work just fine.

Virtually all of them will regret that decision. There are simply too many issues that a divorce attorney knows to look for that a DIY form will not reveal. The ugly truth about DIY divorces is that most people who go this route end up hiring a divorce attorney to fix the mess they made on their own.

In 2019, the national average cost for a divorce was $12,900, without taking extended marital asset division or parental rights battles into account. That number can vary significantly, depending on where you live and what level of assets you and your spouse have, whether parenting time is an issue, and whether the divorce is likely to be contentious from start to finish or relatively friendly.

There are ways you can have a highly qualified divorce attorney handle your divorce and save money on divorce costs at the same time. If you have questions regarding how much your divorce will cost and how an attorney can help you, speaking to a Wheaton, IL family law attorney is the best step you can take for your future.

What Should You Budget for When Considering a Divorce?

First, you should ask your divorce attorney approximately what he or she will charge for the divorce. He or she should be able to provide you with a fairly accurate estimate, which may change if unexpected issues arise or if you initially thought you would have an uncontested divorce, but it ultimately becomes very contested. You will need to budget for the following when considering divorce:

• Attorney fees
• Court costs
• The cost of parent education classes
• Mediation costs if you go that route
• Higher taxes for filing as single instead of married.
• If you own your own home, you may have to consider refinancing costs if one spouse intends to stay in the house.
•  Moving costs if one or both spouses will be moving from the marital home.
• Repair costs if the marital home is put up for sale and needs some work.
• Higher healthcare costs if one spouse has been on the other’s work health insurance.
• Extra childcare expenses
• The cost of two households instead of one

What Can You Do Before the Divorce to Help with Costs?

As soon as the thought of divorce crosses your mind and becomes a reality, you should immediately start putting aside as much money as you possibly can. Make sure you have a good idea of what the marital assets consist of, especially if your spouse has been the primary money manager. Get copies of all financial documents, including tax returns, bank statements, stocks and bonds, and credit card expenses.

It can be helpful to meet with a financial professional before you actually file for divorce so that you are sure you have a handle on money issues. Know how much cash is in the bank, in savings, invested, or tied up in equity. If you are a stay-at-home spouse, find out how much your spouse makes just in case the financials he or she submits do not seem quite right.

Be as frugal as possible; any money you save now can help pay your attorney’s fees and get you into a new home when necessary. Be prepared to do without for a while, and know that you are unlikely to get everything you want from divorce, so prioritize the things that are most important to you. The very best way to protect your finances – for both of you – is to agree to play nice during the divorce.

The more you and your spouse cooperate as you split marital assets and debts, the less your divorce will cost. The less your divorce costs, the more money both of you will have to start your new life. Arguing about every little thing will cost you both, and when all is said and done, there will be fewer assets to divide.

What Will Happen to the Marital Home?

The marital home is often a couple’s biggest asset. If your spouse has no interest in keeping the marital home but you want to continue to live there, your lawyer can help you determine what you can offer your spouse in return for his or her interest in the house. You would then need to refinance the house so it is only in your name.

Before you decide to go this route, ensure your credit is good and that the bank will lend you the money. Some spouses decide to co-own the house, making it more of a business arrangement. One spouse may continue living in the house, paying the other "rent." The house could be leased out to someone else, and the proceeds, after the mortgage, taxes, and insurance are paid, are split between the spouses.

Some couples decide to sell the house and split the profits, but this requires that both spouses work together to sell the house, and couples who cannot agree on anything might not be able to accomplish this. While leaving a home you love and have raised your children in can be difficult, it can also mean a fresh start.  

Talk to Your Attorney About How You Can Make Your Divorce More Affordable

Attorneys have bills and budgets just like you do, so do not be afraid to talk frankly with your divorce attorney about ways you can save money. It is highly likely that your attorney can give you some good advice regarding cutting costs. And, as stated, the less you argue, the less time your divorce will take, and the more money will be left to divide between the two of you.

Contact a DuPage County, IL Divorce Lawyer

It is so important to have a Wheaton, IL divorce attorney from The Stogsdill Law Firm, P.C. who has the experience, knowledge, and skills necessary to help you get your divorce done in the most efficient manner. The size of our law firm means we have a wide variety of resources to help you through this difficult time in the best way possible.

Our level of experience ensures that your divorce will be handled professionally, while we remain highly client-centered. As one of the most prestigious law firms in the area, we hope you will speak to one of our attorneys to determine whether we would be a good fit for your divorce. Call 630-462-9500 to schedule your initial attorney meeting.