How to Deal with the Unexpected Costs of Divorce

A divorce can be expensive. What you have to figure out is just how expensive. What unexpected costs will you find?

This is not a simple question of just doing the math. Besides your own evaluation of costs, there will be that of your spouse and their lawyer.

It’s difficult, and here are a few five things to consider when figuring out the costs.

Financial Planning

Despite all the conflicting emotions you’ll experience when you go through a divorce, a part of you has to remain utterly logical about financial planning.

You must find out about the legalities and think about how they’ll impact your financial wellbeing.

While a divorce lawyer can answer all your questions about legal rights and obligations, you also have to pay attention to how much you can afford to settle without suffering extreme financial hardship.

How Much Will It Cost?

Adding up all the various costs involved in a divorce can be utterly confusing.  While you could rely on a calculator, a spreadsheet, or a notebook, this will be a slow and often inaccurate way of figuring out what you own and how much you owe.

A better solution for doing the math is to get a divorce calculator. The calculator will help you stay focused on adding up and subtracting the right things.

It’s also a good idea to talk to an accountant. They will help you better understand what things to consider and what to disregard. They will also serve as a detached third-party, giving you an objective assessment of your financial situation. An accountant will add clarity to how you interpret assets and liabilities.

Alimony? Child Support?

Unfortunately, figuring out divorce expenses is not as simple as identifying property and debts, making a list of everything you own and everything you must still pay off. There are also fees you will have to pay various professionals for their invaluable help—therapists, lawyers, accountants.

Then, there is alimony and child support. If you’re the single breadwinner, calculate how much you can afford to pay out each month. If you’re on the receiving end, calculate how much the law entitles you to receive and how well you will manage with it.

Insurance?

You will have many insurance plans as a couple, such as home insurance, auto insurance, and health insurance. The list could be a long one.

After dissolving your joint insurance policies, you must shop for new insurance. The process can be a long, frustrating, and expensive one. Working with an insurance professional to figure out the best policies will make the process go much faster and help you make better decisions.

Moving Expenses?

Packing up and moving may seem like an incidental expense, but it’s something to think about, too, because costs can run high, especially if you have a large house with lots of furniture and are planning on moving to another city or state.

There will also be the cost of renting a new apartment or home, covering rent for the first and last month and putting down a security deposit.

In fact, moving expenses can add up to thousands of dollars. So, this is something else you must factor in when crunching your numbers.

Divorce May Still Be Your Best Option

Despite the emotional cost and financial losses of a divorce, it may still be the best option. It’s messy—involving splitting up the family, moving, making new life decisions, and wrestling with many financial expenses—but if you and your spouse can no longer agree on most things, then embarking on a new course in life is the only rational thing to do.

Dahm Triplets Net Worth Far More Than Most People Imagine

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While twins are unique enough, triplets are considered even more special because they are statistically even more improbable. If the triplets also happen to be stunningly beautiful, intelligent, and charming women, things can get extremely interesting.

In the case of the Dahm triplets, the public considered them so fascinating that it resulted in an unexpected fortune. Today, these celebrities have a net worth of about $12.5 million, earning their fortune through a surprising assortment of ways.
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Notes From Elon Musk’s Wife: What It Takes To Become a Billionaire

what it takes to become a billionaire

Justine Musk isn’t known for being in the spotlight very often, however, it seems she is rather insightful about her ex-husband’s success. After seeing Elon become the founder of PayPal as well as CEO of Tesla and SpaceX, Justine has an idea of what it takes to become a billionaire.

Elon Musk’s Net Worth

Currently, Elon Musk is estimated to have a net worth of $12.1 billion. Much of this has obviously stemmed from his business endeavors directly. Although Tesla hasn’t been wildly profitable, the company is still doing extremely well.

Justine was by Elon’s side until 2008 when the couple parted ways, making her privy to the “secrets” of becoming a billionaire. Recently, she responded to a Quora thread asking the following question: Will I become a billiaonaire if I am determined to be one and put in all the necessary work required?

What Does It Take To Be a Billionaire?

Musk’s former wife answered the question fairly simply with “no.” However, she believes the person asking the question is focused on the wrong things. She continued her response by saying.

Justine MuskYou’re determined. So what? You haven’t been racing naked through shark-infested waters yet. Will you be just as determined when you wash up on some deserted island, disoriented and bloody and ragged and beaten and staring into the horizon with no sign of rescue?

Shift your focus away from what you want (a billion dollars) and get deeply, intensely curious about what the world wants and needs. Ask yourself what you have the potential to offer that is so unique and compelling and helpful that no computer could replace you, no one could outsource you, no one could steal your product and make it better and then club you into oblivion (not literally). Then develop that potential. Choose one thing and become a master of it. Choose a second thing and become a master of that. When you become a master of two worlds (say, engineering and business), you can bring them together in a way that will a) introduce hot ideas to each other, so they can have idea sex and make idea babies that no one has seen before and b) create a competitive advantage because you can move between worlds, speak both languages, connect the tribes, mash the elements to spark fresh creative insight until you wake up with the epiphany that changes your life.The world doesn’t throw a billion dollars at a person because the person wants it or works so hard they feel they deserve it. (The world does not care what you want or deserve.)

The world gives you money in exchange for something it perceives to be of equal or greater value: something that transforms an aspect of the culture, reworks a familiar story or introduces a new one, alters the way people think about the category and make use of it in daily life. There is no roadmap, no blueprint for this; a lot of people will give you a lot of advice, and most of it will be bad, and a lot of it will be good and sound but you’ll have to figure out how it doesn’t apply to you because you’re coming from an unexpected angle. And you’ll be doing it alone, until you develop the charisma and credibility to attract the talent you need to come with you. Have courage. (You will need it.)

And good luck. (You’ll need that too.)

Closing Word of Advice

All in all, becoming a billionaire does take some hard work. But no matter how determined you are to have that dollar amount in your bank account, you will need to develop potential and have the courage to reach your goals. Oh, and as Justine pointed out, having a little luck on your side won’t hurt either!

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Major Life Decisions Involve Major Purchases

Major life decisions involve major purchases. The older you get, the more hefty your financial burden becomes as you begin to divert investing in expensive shoes and takeout and instead start to save for life’s most costly necessities like rent, utilities, education and automotives. When it comes to weighing our options for which apartment to rent, what gas company to use, or what car to buy, we need all the help we can get.

Major life decisions involve major purchases. The older you get, the more hefty your financial burden becomes as you begin to divert investing in expensive shoes and takeout and instead start to save for life’s most costly necessities like rent, utilities, education and automotives. When it comes to weighing our options for which apartment to rent, what gas company to use, or what car to buy, we need all the help we can get.
Car buying is no easy task. In fact, it kind of sucks. But in order to get your dream car you have to jump the hurdles of seeking out your perfect vehicle to be able to make the most financially sound decision, while also keeping in mind all the necessary features you are looking out for with the automotive. This can be be difficult to do for a person who does not have a background in the relevant expertise, and in order to compensate, we look to outlets we consider our only options to help us make our purchase decision. These options include an online automotive database that presents information on a screen, or an in-person car dealership/showcase owned by car dealers with a primary agenda to make money.
Sure, there are both pros and cons between both options. It’s important to weigh both factors in when you’re deciding between how to research your automotive options. In fact, to make it clearer, below is an extensive list of both the perks–and downsides– to using both an online autobase and an in-person car dealership.
1. SHOWROOM/ DEALER’S LOT
a. PROS
i. your potential automotive options are physically in front of you for a review or test drive
ii. Dealers readily available to answer any questions or concerns
iii. Variety of makes and models
iv. Price negotiation occurs regularly
b. CONS
i. Dealers focus monumentally more on the sale than on helping you find your ideal car
ii. Dealers may also hide certain defects the car has to be able to sell it at a higher value–making the buyer completely oblivious to money going down the train in the near future due to their car needing frequent and expensive repair.
2. ONLINE AUTOMOTIVE DATABASE
a. PROS
i. buyer can review the cars from all over the world instead of considering only local options
ii. Open 24/7; doors never close online, so a review of your proponents can be done anytime of day, week, month or year
iii. On-screen side-by-side comparisons of different vehicles present all relevant information right before your eyes with the simple click of a button
iv. Buyer faces absolutely no pressure to buy a car he isn’t completely set on, as in-person dealers often use sales tactics that coerce customers into making a purchase that breaks the bank for a vehicle that does not meet their specific needs.
b. CONS
i. You are online. There is no way for you to sit in the driver’s seat of the car, smell the seat upholstery, kick the tires before buying, etc– many buyers prefer to have hands-on time with a vehicle before making a finalized decision. This means no test-drives either.
ii. Prices are firm instead of being up for negotiation.
For a purchase as expensive as an automotive, doing sufficient research from reliable outlets is vital to leading a responsible financial life. So seeking out help from a car dealer who wants to suck up as much money as he can from you– or referring to an online automotive database that doesn’t always provide you with enough information to make a final decision on a car as seeing it in person would– are kind of counterproductive.
What if there were an outlet that combined the two outlets we have for automotive research, taking their best variables and eliminating the aforementioned downsides? Cars.com does just that. With absolutely no pressure from a sleazy car dealer, users have access to an extensive platform of cars that fit their exact needs–and can even locate where those very models are being sold locally. You’re also told upfront the best features of the car–but also the dents and scratches it has they may render it less valuable. There are even various outlets for car buying advice for users to refer to according to their individual needs. The best thing about Cars.com? Users have full access to all of its features at absolutely no cost.