Opinion: Tips to Deal with Your Finances After Divorce

Shelley Wenger

Photo byShelley Wenger at Canva

Divorce is a definite life-changer, no matter how long you have been married. Your whole life is going to change, from your daily life to your finances. This is especially true if you combine your money in order to pay your regular expenses. Then, there are times when a couple decides to live on one income so that one parent can stay home to take care of the children and the home.

Because of this, your finances can really change after your divorce. However, it doesn’t have to be that way. Here are some tips for dealing with your finances after divorce.

No matter how you live, your finances are going to change after you get divorced. It can be hard to go from living with two incomes to just one. If you stayed home, you might not have that luxury anymore. Even with child support, you may need to work so that you can make ends meet.

If you are the primary breadwinner, you are still going to have to support your ex and family, so you may end up having to help pay for two homes, instead of just one.

Either way, you are going to have to make some changes in order to be financially stable.

Fight for your financial future during the divorce process. Unfortunately, divorce can be a drawn-out mess, and there are times when one (or both) will just give in so that the divorce can get settled and they can move on. They will agree to almost anything in order for the divorce to be finalized.

However, that could really hurt you financially. If your spouse allowed you to stay home during the marriage by supporting you, he or she should continue to give you some support after. If you have stayed home to take care of your children, hopefully, your ex will allow you to continue to do so, for the sake of your children.

Fight for child support. If you have primary physical custody of your children, you need help taking care of them financially.

This money is not for you (even if your spouse believes it is). It is necessary to continue to raise the children that you had together. You shouldn’t be responsible for paying for everything, from food, shelter, and clothing. It should also be for extras. Your children are used to living a certain way, and they shouldn’t have to do without, simply because their parents can’t live together anymore!

Go ahead and sell the house. After coming up with child custody, the hardest part of divorce may be trying to decide who gets to keep the house. That being said, there are a lot of times when it is just a good idea to sell the house and have both of you start over.

It is much better to try to sell it now, while you can, instead of trying to hold on to it and possibly losing it. 

You may want to consider hiring a financial planner to help you navigate the next steps. A financial planner is helpful as you try to start over. He or she can help you sit down and really examine your finances to figure out where to go from here.

With the help of a financial planner, you can determine what your expenses are and how much income you are going to have coming in. He or she can help you set up a budget and make decisions about your finances. While budgeting, your planner may be able to help you cut back on your expenses so that you can live a little easier.

Figuring out your finances after a divorce can be really hard. No matter how much you fight for your financial future, it is hard to start over. It doesn’t matter if you were the primary breadwinner or not. Your expenses and needs are going to change. You may have to make some big changes as you navigate your new life. 

The best way to make sure that you are prepared for the near future (and your retirement) is to hire a financial planner. He or she can help you come up with a budget and start to save for your retirement years.


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Shelley is a small town farm mom of two boys. She is a veterinary technician, so she is proud to write about all kinds of animals and their care. She also loves to write about writing, running a business, working from home, and much more.

Glenville, PA

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