Helping Clients Navigate A Course To A Better Future

3 tips for women to be financially stable after divorce

You are getting a divorce and trying to maintain your financial stability. Your husband is well off, and you are wondering how you are going to keep up your lifestyle post-divorce. Even with child support and alimony, it can seem daunting to figure out. Although it may seem complicated and stressful, there are steps you can take to secure your financial future.

By updating accounts, creating a budget and building credit, you can be successful and single. Keep reading for details on these tips.

1. Update your accounts

Financial housekeeping after divorce is crucial. Update the beneficiaries listed on any of your retirement accounts or life insurance plans. If you change your name, you will also need to get a new credit card, driver’s license and Social Security card. You must also notify your banks, insurance companies and credit card companies of any address or name changes.

2. Create a budget

Now that you will not be sharing living expenses with your husband, you need to make a new personal budget for your expenses and income. First, list all sources of personal income, including any second jobs or freelance work. The key here is to subtract any child support or alimony payments so that you do not have to completely rely on them. Then, list your set and fluctuating expenses and see if there is anything you can afford to let go.

3. Build your credit

You will not have any shared credit cards with your husband anymore, so you need to make sure you have a good credit score by yourself. Use your credit cards frequently and pay more than the minimum payment early when possible. This will help you qualify for new loans and move forward from the divorce.

If you plan ahead, you can survive the financial impact of your divorce and come out on top.

Bg Quote

Client Testimonials

Bg Stars

A Wonderful Experience

I had a wonderful experience with Kennedy Law Associates. Marsha Kennedy and her Associates were knowledgeable, efficient, and caring. I felt like my case was a high priority to them, and they helped me understand every step of the divorce process throughout my entire case. I would highly recommend this firm to anyone looking for assistance with a family law matter!
Jennifer Haines

Smart, Caring Staff

I am savvy financially, but had no clue about the divorce process. Through it all, Ms. Kennedy and her staff have been there for me and my kids.

The experience you need through a difficult time

Marsha Kennedy and her team has expertly handled each situation and guided me through the process.

Highly Recommend!

Kennedy Family Law did a wonderful job representing me in my divorce. Always responsive and kept me informed – they really cared about me.
Bette Frederick

Highly Recommend!

I have been working with Marsha Kennedy and her team and am so impressed with how my case is being handled.
Kelly Peterson
FindLaw Network