Aside from the emotional and mental turmoil that a person undergoes when having a divorce, the financial aspect takes a huge hit. Because the couple is splitting everything, may it be 50-50 or whatever form of sharing there is, the quality of living and lifestyle of both parties are changed. In most cases, the spouse will not provide financial support for the child, leaving the other parent struggling.
As seen in the Finances and Divorce Infographic below, individuals, particularly women can be left to fend for themselves and their children after a divorce. Both men and women can expect to loose 30% of their income to maintain the lifestyle they enjoyed together. Single mothers can be particularly stressed with the need to supplement income with additional work.
For this reason, it is advisable to get a pre-nuptial agreement before exchanging your wedding vows. It can help both parties in case the relationship goes southward, which is common nowadays due to different reasons. However, few people do this in the hopes that the relationship will survive in the future. If you are thinking of getting married, be practical. You never know what direction life will lead you. Instead of regretting your decision of not having a pre-nuptial agreement, protect your financial interest by requesting it from your future spouse. Remember that this is not only for you, but your child’s interest too.
This Infographic is presented by Diamond Lighthouse