For most of us going through or starting the process of filing for divorce produces a lot of personal finance related questions: Where will my children and I live? How am I going to pay off my debt? How can I prepare for my children’s future, my retirement? All are valid questions and should be addressed as soon as you are able to think about your situation clearly. … [Read more...]
Your Financial Plan After Divorce
It doesn't matter what age you are when your marriage ends, you need to work out a plan for your financial independence after divorce. That could be quite straight-forward if you're working full-time already earning a salary that will support yourself and your children. It's more complicated if you're working part-time or you're a stay-at-home and it gets even more complicated … [Read more...]
Debit Card Or Credit Card? Which One Is Best For you?
When you obtain a new checking account you will most likely be asked if you would like a debit card complete with a VISA or MasterCard logo that is attached to your account. Of course with a debit card you can only spend as much as you have available in your account, so tracking purchases will be an important task to stay on top of. After a divorce, you begin separating your … [Read more...]
Creating A Financial Plan After Divorce
Creating a financial plan after divorce is one action item I strongly encourage people to do. It's a plan for supporting themselves and their children and it's a plan because it's more than just a budget. It's about setting financial goals, taking stock of assets and debts, figuring out a budget, and knowing your income. And because divorce often changes the financial picture … [Read more...]
Parenting When Your Ex Is Rich And You Are Not
Today's guest post is from Scott Morgan, a family law attorney. As such Scott sees the whole spectrum of divorce situations and one common issue is when there is a disparity in income between former spouses which can easily lead to a 'rock star parent' type of situation. I asked Scott for his insight on how to best cope with this. Here's Scott: As a practicing divorce … [Read more...]