One of the biggest financial concerns for many people going through a divorce or separation is the way it will affect their credit. Your financial situation is an extremely important consideration throughout all divorce processes. The good news is that there are ways to limit the amount of damage a divorce will have on your credit score. Whatever debt you and...

Although credit ratings do not change because of a divorce, if you are not careful, what you don’t do during the divorce can negatively affect your credit. Anytime both names are on a contract you and your spouse together are responsible for those debts. It’s imperative that you take steps to separate your finances. One way to accomplish this is to refinance...

A top priority after divorce is a stable financial plan.  The separation should urge couples to do some “financial housekeeping” to protect all personal finances.  There are crucial measurements that need to be met in order to disassociate from a previous marriage. Identification (e.g., social security card, driver’s license, passports) and personal...

How can two nice people — who used to be a nice couple — suddenly turn into two gladiators trying to destroy each other? If you’re just getting started in the divorce process, you’ve probably gotten plenty of free advice from well-meaning friends, families and neighbors. They may have said something like the following: “Hey, sorry...

“Some day, my Prince will come” goes the song. But what if he came – and went — and took half of everything with him? That’s the dilemma of the woman on her own again. And once bitten, twice shy, she may not want to rush into a new marriage. Most women can expect to spend at least a third of their adult lives on their own. That means they...

Question I have just been through a divorce, and I feel as though I’ve been through the wringer. I have a great therapist who is helping me through the emotional aftermath, but I don’t know where to begin to get my financial life back on track. Answer Unfortunately, “splitting the sheets” also means splitting the assets and splitting the income....

Question I am thinking of divorce, and I don’t know what to do about my credit cards. Will I be able to get credit after I divorce, or will I have to start over? Answer If you are considering divorce, it is important to get your credit facilities firmly in place as soon as you can. Make sure that your bank cards and department store cards are in your own name,...

Mutual funds are supposed to make inventing easy, but picking and managing mutual funds is bewildering for most novice investors. Fortunately, you don’t have to know a great deal about investments to make money in mutual funds. All you need is a reasonable knowledge of your own financial situation and goals, and some basic guidelines for picking the right...

Failed relationships are an unfortunate though sometimes necessary part of life. With all of the emotional and legal aspects to deal with, the financial realities are sometimes placed on the back burner. This is a mistake. According to a study from the 1999 Statistical Abstract of the United States, four times as many divorced women with children fall under the...

The ultimate goal of financial planning is to ensure that there are funds available for you and your family to enjoy the best quality of life possible in the present and in the future. A divorce complicates this process by changing the original financial structure of the family. Incomes become altered, and therefore, new budgets must be created in order to...

Money comes in and goes out every month. Where it comes from and where it goes we refer to as your cash flow. This information is important to document in order to make you aware of all of your sources of income, your spending habits and to show where money may be saved. Use the following worksheet to illustrate your cash flow: Where it Comes From Where It...

Make Your Cash Work Harder Have today’s low interest rates got you down? Are you searching for an investment that combines safety while offering a better rate of return? Consider some of these options to help get the most out of your liquid investments. Buy Bonds Bonds can help you achieve a number of complementary objectives. Among the most important are:...