Are you wondering how you are going to survive your divorce financially?
There are many spouses 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 significant other’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 parents:
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.
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 privately
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 extra 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 two 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 AND emotionally for the next step, call me, I am happy
to brainstorm with you. I have been guiding divorcing families successfully
using legal strategy and unique psychological insight for over 35 years.
I am just a phone call away and the consultation is free! 212.734.1551