Divorce is a major life event for several reasons, but mostly because life as you knew it is changing. Specifically, many individuals have a hard time financially after their divorce for a few different reasons. For instance, their spouse may have been the primary income source, or they spent most of their money on attorney fees. Well, now you\u2019re on the other side of a divorce, stronger than before and ready to start a new life. If you need some help with finances after a divorce, we\u2019ve got you covered. Check out our tips for being financially stable after divorce.<\/p>\n\n\n\n
We know this probably isn\u2019t what you want to hear, but the only path to financial stability is a budget. You have to know exactly how much you have coming in and how much is going out. If you have debt, your budget should be built around paying off your debt first. If you\u2019re older and haven\u2019t been investing in retirement, start aggressively investing in a 401K, Roth IRA, or another retirement account. Keep in mind that you\u2019re not creating a budget just for the sake of creating a budget\u2014you have to stick to it, too. That means you have to have to get comfortable working within a set limit and stop using credit cards if need be.<\/p>\n\n\n\n
One of the biggest factors in a divorce settlement is finances, and rightfully so. If the duration of the marriage wasn\u2019t very long, then you may be in decent shape still. On the other hand, for those of you who were married for decades, there\u2019s a chance you lost a lot from the divorce. Regardless, it\u2019s important that you know and have a record of all the agreed-upon financial details. If you\u2019re unsure about the details, or what they mean, your attorney can help you. However, if you divorced with children, that means child support was also a factor. You must know exactly what you can use child support for<\/a> to avoid being penalized or brought back to court.<\/p>\n\n\n\n Assuming that you\u2019re debt-free, have a comfortable budget, and you\u2019re being financially responsible, it\u2019s probably wise to rebuild your credit. You may already have a mortgage that helps you build your credit, but now that your name changed, you\u2019re going to need a credit card in your name again. Although some people abuse them, credit cards are great tools for building your credit easily. Even if you only use your credit card for Netflix each month, having some recurring activity on your card is better than nothing. Again, if you follow this step, make sure you\u2019re responsible.<\/p>\n\n\n\n We hope these tips for being financially stable after divorce help you get back on your feet. Going through a divorce can certainly set people back financially, but we believe in you and we know you\u2019re going to be stronger than ever before.<\/p>\n","protected":false},"excerpt":{"rendered":" Divorce is a major life event for several reasons, but mostly because life as you knew it is changing. Specifically, many individuals have a hard time financially after their divorce for a few different reasons. For instance, their spouse may have been the primary income source, or they spent most of their money on attorney…<\/p>\n","protected":false},"author":14,"featured_media":12445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[264],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/posts\/12444"}],"collection":[{"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/comments?post=12444"}],"version-history":[{"count":0,"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/posts\/12444\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/media\/12445"}],"wp:attachment":[{"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/media?parent=12444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/categories?post=12444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsleaderonline.com\/wp-json\/wp\/v2\/tags?post=12444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Start rebuilding your personal credit<\/h2>\n\n\n\n