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The financially independent divorcee

On Behalf of | Aug 10, 2022 | Divorce

Splitting up a marriage almost inevitably throws off your whole world. Everything gets put on hold – but your finances don’t necessarily have to. Here’s how to stay financially stable and independent in California after your marriage has come to an end.

Money is the glue that holds bad marriages together

It’s hard to imagine a single part of life that isn’t significantly impacted when by a divorce. When so much of your world is crumbling around you and it seems there’s nothing to hold on to, financial stability may be the solid foundation from which you can start to rebuild your life.

Oftentimes, couples stay together simply because the alternative of having to learn to navigate the financial world on their own might seem too daunting to deal with. Even for those who do divorce, the option of staying together might have seemed highly tempting for financial reasons alone. This still tends to be the case whether they’re mildly unfulfilled in their marriage or suffering serious toxicity and abuse.

Getting your post-divorce finances on track

On the list of concerns after a divorce, money usually goes straight to the top. Finances are such a high priority because it’s difficult or impossible to keep life going without the monetary aspects worked out.

Financial planning after you’ve been divorced almost always involves rewriting your budget. You’ll probably want to prepare yourself to make cuts where necessary. This also includes bookkeeping, paying taxes, and all the other responsibilities that come with earning, saving, and spending money.

Building up your credit score is another key part of having stable finances after a divorce. Your credit will likely plummet if you accidentally miss payments on things like joint accounts. It’s a good idea to double-check that all loose ends are tied up before starting to release the divorce from your mind.