How much does divorce cost? Divorce can be expensive. Not only monetarily but also in terms of its social costs. That much I can tell you off the bat.
Read about the social costs of divorce here.
BUNDLE has just come out with it’s HOW AMERICA SPENDS: 2010 BUNDLE REPORT: total US spending average per household for 2009.
The numbers…. show how much the average American household spent last year: $37,782, not counting mortgage or rent (which are not included in the Bundle data). Divided into six categories, that’s 23 percent of their daily budget spent on shopping, 14.5 percent on getting around (gas and auto expenses), 17.5 percent on food and drink, 7 percent on travel and leisure, 17 percent on house- and home-related expenses, and 21 percent on health and family.
The data was broken into: health and family, shopping, getting around, food and drink, and house and home. Got me to wondering about the health and family section and specifically, since nearly 50% of marriages end in divorce, how much do Americans spend on divorce related issues (including attorneys fees). Maybe next year, Bundle can break down the numbers a bit more to give us some insight into that.
So how much are you going to spend on your divorce? Based simply on anecdotal data I’ve seen, I’m thinking that the average cost of divorce is somewhere between $10,000-$20,000 for each party. And that is a low ball estimate. It could be more like $50,000 per person. High net worth divorces cost much more, sometimes in the millions of dollars.
Image credit: http://www.flickr.com/photos/hlkljgk/ / CC BY-SA 2.0