Many Americans whose homes are worth considerably more than they paid for them have a comfortable amount of equity. However, when they decide to make renovations or upgrades, they're increasingly using their credit cards rather than applying for home equity loans.
For many people, credit cards are a big source of their personal debt. Americans' revolving credit card debt, meaning debt that carries over month to month, has risen to over $1 trillion. That is the highest it's been since 2008.
Many parents hesitate to divorce, no matter how unhappy they are, because they're concerned about how their children will be impacted. Certainly, there's considerable research addressing the short-term and long-term impact of parental divorce. However, if that divorce puts an end to constant fighting or silent rage and co-parents can find a way to work together to ensure their children's well-being, divorce can have a multitude of benefits for kids, both in the present and long into the future.
If you are contemplating a divorce, the reasons for filing can differ between men and woman. You can also find a difference when it comes to which sex files for divorce more. Research has found that women tend to file for divorce more than men. But what are the main reasons both men and women will file for divorce? If you immediately thought money was one of the biggest reasons for divorce, you may be surprised it is not even on the list for either men or women.
If you and your spouse own a home, that's likely to be the largest asset the two of you will need to find a way to divide in your divorce. Sometimes, couples have no choice but to sell the home and split the proceeds. It's usually too much for one person to afford on their own.
A few months ago, we discussed here on this blog how important it is for same-sex couples who are divorcing to ensure that any prior legal unions, no matter what state they were entered into, are dissolved. Failing to do so can cause complications for couples who want to make a clean break and go their separate ways. However, what if you were never legally married?