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How to Get Your Finances in Check before the Divorce

Sep 16, 2008
When you're getting a divorce or planning to get one, there are a few different things you must do in order to prepare for being single (or the upcoming court battle.) One of those very important things is to get your finances in check. Divorces are expensive and you will be getting accustomed to only having your own source of income again. Here are some tips on how to get your finances in check before the divorce.

Stop All Unnecessary Spending -

The first thing you can do to get your finances controlled before you enter divorce is to stop all unnecessary spending. For instance, take a look at the monthly bills you pay and the different things you purchase on a weekly basis. If need be, make a list of those things.

Then, determine which ones you don't actually need or the ones that aren't that important and get rid of them. This will free up more money than you think! Take the money that you would normally use for these items and place it into an account. Make sure that the account is not a joint account and has only your name on it - that way, you can ensure that the money will stay where you put it.

Make a Detailed Report of Your Income versus Your Bills -

Another important thing to do is make a detailed report of your income versus your monthly bills. Only include the bills which have your name on them, because these are the only ones you're legally responsible for. There may be others that you want to pay from an ethical standpoint, but only you know what those are.

The point is to get down how much extra income you are receiving after you have paid your bills and taken care of household items like groceries or other necessities. This will help you determine what you can work with as far as hiring an attorney, obtaining another place to live, etc.

Make Sure You Are Responsible for Your Own Bills -

In many marriages, one partner may not know much about the household bills because the other partner is the one who always pays them and handles the finances. If this is the case in your home, you need to make sure that you're responsible for all of the bills which come in your name. If your spouse is angry or bitter, he or she could deliberately 'forget' to pay those bills, or they could honestly get lost in the shuffle. This can damage your credit score and cause you to be unable to obtain a loan for a house or car in the future. Be sure that you are in control of your bills and that they are paid.

By following the advice in this article, you can effectively get control of your finances before the divorce process begins. This will make things much easier for you and help things progress much more smoothly.
About the Author
Danielle L. Taylor is the author and editor for Xstilla.com one of the most active divorce support communities in the Web. To learn more about divorce, child support, dating or to discuss your problem with understanding members of the community visit Xstilla.com!
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