Tag Archive | Marriage

Financial Tips for Women Going Through a Divorce

No matter how you look at it ladies, divorce is a difficult thing both financially and emotionally. You have to start your finances all over all on your own. This is harder for some women than it is for others. For those who need some tips to make it through the transition, here are some.

You are solely in charge of your finances at this point ladies so you need to make sure that you are taking control. Take the time to gather up all your bills and other expenses for the month. You need to compare the amount of all your expenses for the month to what you will be earning now that you have a single income.

Divorce Ring

Research different divorce methods, you may find that going to court is not for you. Divorce is rather expensive so if you can find a way that will work for you that will also help you to save money, you should do it. There are ways to finalize a divorce without going to court. If you do go to court you will end up paying much more in lawyer fees. If you and your soon to be ex-husband can agree on things you can do it all out of court.

Make sure that any joint bank accounts you have with your soon to be ex are split up. Split the money that are in the accounts between you and your ex and close the account. Then you can open a new account if you need to, or you can just put that money into an account that you already have whether it is at the same bank or a different one.

Most experts say that when a woman goes through a divorce they need to make sure that they have at least one credit card in their name only. This will give you access to credit without your ex being involved in any way. In addition to this you need to make sure that you close any credit card accounts you have open with your ex-husband. This may mean that you have to fully pay off your balance first, but you need to do it as soon as you possibly can.

Ladies, now that you are on your own you need to create a budget solely for you. This will help you to track your income and where your money is going. This is the best way to help you stay out of debt. If you are able to see where your money is going, you may have a better chance to save more.

When you go through a divorce there are a lot of things you need to be thinking about. Make your finances one of those things that you are thinking about during the divorce ladies. You are now going to have only one income therefore you may need to be more careful with your money. That is okay, it may take some time to get into the swing of things but it will come soon enough.

Women and Their Money

When it comes to money women need to be able to handle their own.  They should know what they have coming in and what they have going out.  Being in charge of their money empowers women and can give them not just financial independence, but independence in general as well.

Women should never rely on someone to take care of them financially.  Some women think that this is okay, but if you think about it your financial future really is up in the air.  What if something happens to the person who is taking care of you financially, or what if something happens between the two of you?  You could lose everything and since you have not been taking care of finances yourself, you may not know what you are doing and end up in a lot of financial trouble.
Ladies, if you are in a relationship and your man does not pay his fair share then you need to reconsider your relationship.  Do you always want to be paying his way?  There is a good chance that he is not going to change anytime soon and maybe not even farther done the road.  It is not a good idea to stay with someone who will bring you down financially.  You have to worry about your own finances and if someone is bringing your finances down, it will make that much, much harder.
You should embrace frugal living; even if that means you have to cut back on shopping.  Most women love to shop, but when you are watching your own finances you must watch what you spend.  Having a budget will help you with this.  Find new ways that you can save money in your everyday life.  Challenge your friends to come up with new ways to save money.
Even if you are married you should still be involved with the finances.  Many women will allow their husband to take care of the finances while they take care of other things.  This is not a good idea.  In the event that something were to happen to the marriage or to their spouse, most women would then not be able to handle the family finances as they do not know how they were handled before.
Women, you should always know what is going on in the world of your finances.  It does not matter if you are single, married, have children, or no children.  There is no excuse to not know what is going on.  If you need help understanding your finances or getting them under control there are professionals out there that you can turn to for help.  You can even turn to loved ones for help if you are comfortable doing that.  Women need to be in control of their finances and never let anyone come between them and their money.