Many people find themselves unprepared to take charge of their own lives after a divorce. They focus on the process of separating from a spouse but do not think about how they will live once the divorce is over with. Ending your marriage means you must take on financial responsibilities you once shared with your spouse.
You should come out of your divorce in strong enough financial shape that you can have a place of your own and sustain your lifestyle. Some advance planning before you file for divorce may benefit you. The Good Men Project describes three tips along these lines.
Seek job training
Not every spouse is ready to enter the workforce after divorce. You may need to find a new job once your divorce is complete. Think about whether you have marketable skills that can land you a job and if you should go to back to college or take a class to build up your future earning potential. While you may receive help from spousal support, you should have a solid job to fall back on, particularly if you lose alimony for any reason.
Refrain from new debt
Do what you can to save money. You will need a cushion of cash for attorney fees plus whatever expenses you must pay to set up your post-divorce life. You may have to pay for a new residence, new furniture or education to prepare for a job. These expenses do not count whatever you spend on your children if you have any. Abstain from making expensive purchases so you will be in the best financial shape possible.
Ask for a credit report
You also want to spot possible problems with your credit before you divorce. If you need a loan for a car or a home, your credit needs to be in good shape. Request a credit report so you can review it for possible errors that may impact your credit score. Also ask to see a credit report for your spouse. You might find out about assets your spouse has not disclosed, plus you will know if your spouse’s bad credit is dragging down your own.
