Wants and Needs for the most part are totally different. In the literal sense all you NEED to survive is the air you breath, the food you eat and water. Since we live in modern society you will also need a place to live and cloths which means that you will need a job to cover those expenses.
Our “WANTS” are what usually get us into financial difficulties. You may want to eat Filet and Lobster for every meal but you don’t need Filet and Lobster to live. You may want and feel that you deserve to wear designer clothing but you do not need designer cloths to live. You may want to raise your children in a multi-million dollar home but they can be just as happy in a home valued in the hundreds of thousands.
While going through the divorce process you have the opportunity to really look at what you WANT versus what you NEED, and this could end up saving you thousands of dollars in legal fees. Look around your home and determine the difference between what you WANT and what you actually NEED. You may want the dining room furniture that you and your spouse purchasing for $5,000. But the question is do you actually need that dining room furniture if it is going to cost you $7,500 in legal fees?
You may WANT to keep the home you are currently living in, for sentimental reasons, but you don’t NEED to keep that home. The home that you spend thousands of dollars fighting to keep may end up being the majority of your financial division, which down the road you may not be able to afford. Sure you will have those wonderful memories that you cherish; but you will also end up holding on to painful memories which can cost you emotionally even after your divorce is finalized.
Before you start negotiating your financial future make sure that you have checked your WANTS versus NEEDS.
