Cindy Allen & Associates PLLC

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Four ways to prepare for a post-divorce life

While you are in the throes of a difficult divorce, it may not be the first thing on your mind to plan for the financial part of your post-divorce life. Nevertheless, it should be an important consideration given your current position. Things may be going well at the moment, thanks to a temporary order or the generosity of friends and family; but as life goes on, you have to be prepared to deal with the challenges that will come about.

With that said, there are four essential things that divorcees should think about as their divorces become final.

Get out of debt – Indeed, money problems may have ruined your marriage, but they don’t have to ruin your post-divorce life. Because of this, it is essential that you do what you can to eliminate debt and take steps to avoid creating new debt as you move on with life.

Resist emotional purchases – As we just mentioned, avoiding new debt is key to getting out of debt, so resisting the urge to engage in retail therapy is important. Indeed, you may need some new things as you create a new home, but avoid going overboard on emotional expenditures.

Keep track of your credit report – This is especially important if you have a number of joint credit accounts where your ex agreed to make payments on them (or to pay them off). Keep in mind that if your ex fails to maintain such payments, the creditor still has the right to hold you responsible, even if you are no longer married. 


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