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Navigating financial uncertainty after divorce

| Jan 13, 2021 | Family Law

Many couples who divorce in Florida face a myriad of difficulties. Among the most challenging issue to face post-divorce is financial uncertainty.

What causes financial uncertainty during divorce?

Dealing with the emotional turmoil of a divorce can be hard enough, and facing financial instability after divorce can be downright overwhelming. Couples who have previously combined resources to cover bills may find it difficult to operate as two households instead of one. Expenses can quickly add up if you’re facing two mortgage payments, utilities and more.

How to cope with financial uncertainty and divorce

Spending based on the standard you were used to as a married couple may now be beyond your means as an individual. You’ll need to make adjustments as soon as possible. Being more aware about your income and expenses post-divorce is highly important. You can better cope with your new financial reality after divorce by considering the following:

  • Focus on what you can control: Rather than focusing on the negative, find small steps you can take to improve your financial situation.
  • Prioritize your finances: Address the most pressing financial issues first, and wait on the ones that aren’t as important until later.
  • Educate yourself: Become familiar with the details of your finances so that you can assess your situation and make changes when necessary.

When you’re beginning a new journey after divorce, don’t forget to reach out to others for support or feedback. Surround yourself with close family and friends who can help you navigate the emotional difficulties you’re facing. Be open to cultivating new relationships by joining a club, taking a class or volunteering in your community.

Professional help with a divorce

If you’re facing financial uncertainty during or after divorce, consulting with a professional may be helpful. A financial advisor or family law attorney may help you navigate some of the financial complexities surrounding divorce.

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