There are many women who married young or gave up lucrative careers to have children once they were married. They often spend most of their marriage helping to support and in some cases build their husband’s careers/businesses in the best interest of the family.
But what happens when divorce comes knocking at your door?
Women often suffer more financially than men do. Are you going to be able to survive your divorce financially? The answer is Yes! I strongly suggest you get your ducks in a row and do some financial analysis and planning before you go to see a divorce attorney.
Here are some tips I often give my divorcing stay-at-home moms:
1. Review your skills and evaluate your ability to support yourself financially;
2. If you want to take some courses or become certified in a particular profession. Start Now!;
3. If you have skills and can return to work, update your resume and explore what opportunities exist. Start networking with other female friends already in the workforce;
4. If you don’t have a separate bank account, set one up and start saving some money. You will need money for a retainer whether you hire a mediator or a divorce attorney;
5. Review all your expenses. Make a budget. What are you spending now? What will you be able to spend after the divorce. Know how much you will need to survive. Start implementing changes to cut back on expenses and put some of that money in a savings account for yourself.
It’s important to remember, child support and spousal support (if you are entitled to them) do not last forever. The sooner you can stand on your own feet, the better you will feel.
Feel encouraged and empowered by” preparing” for your divorce. Start with you, First!
If you are thinking about divorce and would like to discuss ways to properly prepare financially for the next step, call me, I am happy to brainstorm with you. I have been guiding divorcing families successfully using keen legal strategy and unique psychological insight for over 35 years. I am just a phone call away. 212.734.1551