Find Your Financial Flex After Divorce

May 06, 2024

Finances really take a hit after divorce, especially for women. In fact, there is such a disparity between the financial outcomes for women and men after divorce, it's ridiculous. Did you know that a woman's standard  of living goes DOWN 27% after divorce, while a man's standard of living actually goes UP 10%!

It's true, but just because divorce knocks us down a little, doesn't mean we have to stay there. There are many resources available to get you back on your feet and ready to build the financial future you deserve and have always wanted.

As women, we tend to give a lot more than we receive in our relationships. For example, you probably spent a lot of time and energy during your marriage on your relationship, your kids, the house, the dog, your job... you get the idea. Securing your retirement or planning for your financial future probably wasn't an everyday thought. And that is probably the case for most women, especially when their husband was in charge of handling the family finances. There's no shame there. This is actually very normal.

Except, now, post-divorce... it's time to take control of your money and look out for you. Getting your financial flex back after the divorce dust settles looks different for everyone.

Just Getting Started
If you are facing divorce or are in the beginning stages, it's likely you have a few questions about where to go for help, what the process will look like, or even how to find the right attorney. Many resources are available now at our fingertips and there are numerous professionals online in the financial space who are geared towards helping women get their financial lives in order after divorce. Don't be afraid to reach out and use resources designed to help you.

Finding the Groove
Once you start learning your money inside and out, I just know that you'll feel empowered in knowing that YOU are taking care of you for a change.

Where is the money? How much is there? What has it been spent on? You'll find all of these answers as you dig in further. Understanding your money is the first step, so you can secure your finances, build wealth, look forward, and leave the past in the past.

And though I hope you are well on your way to getting (or have already gotten!) the best possible settlement in your divorce, the truth is, alimony and divorce settlements don't last forever, so the sooner you start planning, the better. Divorce is expensive enough and spending money and time on yourself may be the furthest thing from your mind but take time to look inward and think hard about what you want your future to look like financially.

You're In Charge
There's no right or wrong way to start getting your financial flex back after divorce. You can start small with adjusting your budget and finding small ways to save some money. Maybe you've got a few bucks on hand that you want to put to work for you, so you're thinking about investing. You might want to work with a financial planner to map out your wealth-building strategy for the months and years to come before retirement.

Maybe you don't want to start out with investing. Maybe your goal is to get a new car, a new home, or even that new outfit that is long over-due. Maybe your mantra is... go BIG or go home and you're ready to jump in and finally treat yourself to that little luxury. Yes, I want you to be responsible with your money, but I also want you to do something that leaves you feeling empowered and in charge.

Resources Abound
Wherever you are in the process, know that there is help for you. As a forensic accountant, I've helped hundreds of women through every financial stage before, during, and after divorce. You don't have to love numbers like I do, I promise.

I've put together some great resources to help you in big and small ways. Our starter guides are a quick and easy way to begin understanding your current money situation and start planning for what needs to be done to protect what you have currently and what you are working towards.

If you need more help, you can think about one of our mini-guides to get you started with hiring the right divorce attorney, getting the right financial documents for your divorce, or really preparing for what is ahead in this divorce process. With our support and tools, you'll be well on your way to flexing your financial muscles in no time.


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The Divorce Money Guide

This Is Your Key to Finding Hidden Money and Assets

This Guide walks you through everything you need to know to find out exactly what your family's money was spent on and to uncover hidden financial fraud in your marriage.

This is your chance to find the money.... before you agree to any settlement in your divorce.

 

Get the Guide