Divorces don’t just affect people emotionally, but financially too. From child support to alimony, it can be hard to pick yourself up again after a divorce.
Following a divorce, you likely have to support yourself financially, which can be quite the adjustment. As Jacksonville family law attorneys, our team at Parra Harris Law wanted to share some tips on how you can survive financially after a divorce:
- Create a financial plan. Keep track of where you spend your money, whether it is on rent, insurance, healthcare, household expenses, or birthday gifts for the kids. Think of all possible things you will need to pay for in a given month or time period. By seeing what is essential vs. frivolous, you will learn how to prioritize and budget.
- Sell possessions you no longer need, such as extra furniture.
- Downsize your home.
- Regularly balance your checkbook. You can learn tips on doing this HERE.
- Aim to not rely and/or put everything on your credit card.
- Keep debt at a minimum. Continue to pay your current debts such as student loans or car payments on time. This will not only help relieve pressure, but will improve your credit score.
- Find ways to cut your spending, whether it is going out to eat less or canceling a monthly subscription.
- If you have extra money, put it into your savings account or a change jar. Get in the habit of setting aside money – you never know when an unexpected expense will pop up such as a car repair or a child needing braces.
- If you receive child support, make sure to spend that money on the child(ren) rather than unnecessary expenses.
- Find ways to make extra money. Look for a better paying job. Find a side job. Look for freelance work. Any additional money will help.
- Consider working with a financial advisor to help with your saving and spending habits.
A divorce brings you a new beginning, but it is not without its financial challenges. The secret to surviving financially after a divorce is planning. With a plan in place, you are setting yourself up to succeed now and in the future. Remember, don’t be afraid to ask professionals and loved ones for help as you enter this new chapter of your life. By sticking to the plan, your financial situation will improve faster than you think!
Looking for a Family Law Attorney in Jacksonville?
We know divorce is a stressful time, especially if you are wondering how you will live financially post-divorce. Our Jacksonville family law attorneys can help you protect your rights and assets. A Jacksonville family law attorney can fight for you to get alimony, child support, or any other monetary rewards or assets.
At Parra Harris Law, we are experienced in family law. We have over 25 years of combined experience. We handle all aspects of divorce and family law litigation issues including: Child Support, Child Custody, Alimony, Property Division, Modification, and Enforcement. We can help guide you through the immediate issues and help you put together a parenting plan to meet the needs of you and your family. Our Jacksonville family law attorneys at Parra Harris Law would be happy to work with you and set up a legal consultation.