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Can you maintain financial stability during your divorce?

On Behalf of | Apr 28, 2018 | Divorce |

Because you and your spouse have decided to pursue a divorce in Texas, you are now faced with the task of recreating your life as an independent person. Sometimes, this can be quite a challenge, especially if you were married for a significant period of time. As you start to make changes, you should be watchful to protect your finances. The slightest misstep or irrational decision could leave you financially strapped and struggling to make ends meet. Fortunately, there are things you can do to stay financially stable during your divorce. 

As soon as you and your spouse have made the decision to divorce, you should immediately begin monitoring how much you spend and cutting down on spending where it is not necessary. According to USA Today, some of the other things you should be doing include the following:

  • Build up your credit score by paying off debt when you are able to. You may also consider applying for a new credit account to establish your credit and give yourself a good chance at being able to get a loan should you need one. 
  • Track all of your spending and keep valuable financial documents organized and in a safe place. They should be easily accessible for reference throughout the process of your divorce.
  • Rely on the help of professionals who have experience in helping people who are getting divorced to stay financially secure. 

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