Divorce & Restoring Your Credit

Saturday, January 24, 2009

Your lifestyle will almost certainly change when one household becomes two. You'll need a new budget -- and a realistic look at what you can afford for the next few years.

You survived the divorce. Now comes the hard part: getting your new single life on track, especially when it comes to money.

In many cases, the ex-wife has a larger amount of post-divorce financial work to do.

True, some women make more money than their husbands, but they are generally exceptions. And true, the ex-husband usually contributes to two households, his new single one as well as the one maintained by his ex-wife, who typically is the custodial parent of their children.

Your 5-minute guide to sudden singlehood

But the harsh reality of divorce is that the lower wage earner usually suffers the most financially. And that lower wage earner usually is the woman, who may have left the work force, at least temporarily, to care for children.

Even then, however, it's possible to get your post-divorce finances in order and ultimately prosper. The following tips and strategies should help. And much of the advice applies regardless of gender.
Get involved
It's the 21st century, but family finances aren't equal for many reasons.

Carol Arnott, a divorce financial analyst with Greenville Financial Group in Greenville, Del., cites a recent survey of married couples that found the men more likely to be in charge of investments, insurance and retirement planning. The women, meanwhile, focused on day-to-day budgeting and bill paying.

Talk back: How has divorce affected your finances?

In short, the men were more strategic when it came to money and more comfortable making decisions regarding their financial futures. So it's no surprise that most of Arnott's clients are women. And she's not shy about encouraging them to get involved with their finances and seek professional help "prior to filing or as soon as they're served with papers."

The first step in mastering your money is understanding it. To do that, you need to look completely and carefully at where you stand.

Welcome Message

Hey there fellow bloggers ! I would like to welcome you here in my blog. Please relax and sit back while browsing .Make a comment, & suggestion. For exchanging links... let me know or leave me a message on my message box. Thank's for dropping by, I appreciate it and hope you come back again soon.

Message Box


ShoutMix chat widget

Disclosure Policy

This policy is valid from 01 December 2009 This blog is a personal blog written and edited by me. For questions about this blog, please contact mjane73@live.com. This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation. This blog abides by word of mouth marketing standards. We believe in honesty of relationship, opinion and identity. The compensation received may influence the advertising content, topics or posts made in this blog. That content, advertising space or post will be clearly identified as paid or sponsored content. The owner(s) of this blog is compensated to provide opinion on products, services, websites and various other topics. Even though the owner(s) of this blog receives compensation for our posts or advertisements, we always give our honest opinions, findings, beliefs, or experiences on those topics or products. The views and opinions expressed on this blog are purely the bloggers' own. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question. This blog does not contain any content which might present a conflict of interest. To get your own policy, go to http://www.disclosurepolicy.org

Blog Archieve

 
ss_blog_claim=cc36264da6741223cff8529ae07a1f70