7 Financial Strategies to Consider When Going Through a Divorce

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The monetary effects of a divorce can be even more crippling than a downturn economy. While a poor market could lead to a financial loss of approximately 30 percent, divorce can clear out half of your assets. Even divorces where both parties agree to split everything down the middle can result in a loss of future income. But with the right strategies, you may be able to lessen the damage and turn your financial future around.

7 Financial Strategies to Consider When Going Through a Divorce

Divorce is a terrible thing. It’s difficult for both parties, even if you’re strongly for it. Divorce creates emotional strain, financial strain, and a mountain of new responsibilities to take care of. To help you through this process, take note (and take action) on the items below.

Implement a New Budget

You probably implemented a family budget based on two incomes for expenses, savings . . . → Read More: 7 Financial Strategies to Consider When Going Through a Divorce