Your Finances at Divorce

You're getting a divorce, but have you thought about your financial situation after the divorce? Will you have enough income to meet your needs? You can take steps to reduce the strain on your finances that a divorce will have by preparing and sticking to a budget. The marriage is a bust and you've decided to go it alone. Your spouse handled all the finances and bill paying. It's time to educate yourself on the costs of surviving on your own. Preparing a monthly budget will force you to recognize what it will take to meet your needs.

Now you have some tough but necessary decisions to make. Taking on another job is certainly an option and may even be a necessity. But you should first try to cut unnecessary expenses.

Assess what you need to survive versus what you would like to have. Even your fixed expenses can be reduced. Sell the high-priced home and car for something more affordable, downsize the cable and cell phone service and eliminate the land line. Cut such luxuries as regularly dining out, weekly movies, annual vacations or amusement park season passes.

Do not apply for new credit cards or loans to pay for any luxuries and do not overspend your budget. It will only make your financial condition worse. In time, your income will improve and you will be better equipped to make additional financial decisions on your own.

Eric M Gansberg is your #1 attorney to fight for your interests in a divorce in New York and Staten Island! His experience and background make him the solid solution in a sticky divorce! Choose Eric Gansberg for all your divorce attorney needs!