Fabio & Merrill

How can you manage your finances during a messy divorce?

If you and your spouse are currently going through divorce proceedings in Texas, you may have already begun to experience the stress that comes with making an onslaught of important decisions in a relatively short period of time. While divorce is a satisfactory option if you are looking to end your relationship with your former spouse, it also requires you to be flexible and willing to compromise on issues related to child support, alimony, separation of assets and other topics. Managing your money during this time can be difficult if you do not know where to begin, and failing to be proactive about making smart decisions can leave you in a dangerous place when things are finalized.

Fortunately, there are some simple things you can do to help protect your finances and to make sure you are not overspending unnecessarily. According to U.S. News, here are some of the things you can do:

  • Pay attention to your credit score. If it needs to be built up, consider applying for a credit card to help boost your numbers for future purchases.
  • Look closely at your income and decide where adjustments need to be made so you can continue to live within your means. Budgeting should be one of the first things you do.
  • Keep all of your most important financial documents organized. Take notes of expenditures you make so you have proof if it is needed during the legal process.
  • Save significant financial purchases until your divorce is finalized and you are comfortable in your new situation. 

The information in this article is intended for educational purposes only and should not be taken as legal advice.  

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