Divorce is complex. Oftentimes the financial challenges feel overwhelming.
We believe we can do better – and support you better! We’ve taken the most common challenges and given you the đź‘Ź best 7 tips for avoiding the most common money headachesđź‘Ź. Read on!👇
Gather all your financial documents
The best thing you can do as you get started is understand your financial picture.
đź‘Ź First and foremost → Do Not Feel Bad If “Finance Aren’t Your Thing.” No shame, no judgment ever. You are absolutely NOT alone. Some of the smartest and most capable women know nothing about their household finances. Every household has its own way of dividing responsibilities.
The only thing that matters now is taking that hard first step – and we know you can do it! It’s crucial to get a handle on where you stand financially. Divorce can make everything feel rushed and stressful, but gaining clarity will give you a sense of control and calm. Be organized and methodical. We are with you every đź‘Ź single đź‘Ź step đź‘Ź of đź‘Ź the đź‘Ź way!
Identify your assets and debts
When you divorce, you will need to show all your assets and debts. You’ll do this by providing information that shows what you own (assets) and what you owe (debt), IE bank statements, investment account information, and tax returns. Both of you need to be open and honest during this process to ensure a fair distribution of assets.
đź’« Pro Tip – Keep an eye on your bank account and credit card statements—check for any charges that seem out of the ordinary. If you spot purchases your spouse wouldn’t normally make, or if there are large withdrawals with no explanation, look into it. The sooner you notice these things, the better.
Be honest . . . with your spouse and yourself!
Transparency is key—especially now. Be upfront with your spouse about all assets and debts. If you’ve been hiding something, it’s time to come clean. If you’re tempted to get sneaky or creative, don’t. Honesty now will save you headaches later.
The same goes for being honest with yourself. Take a hard look at your household income—what it is now, what it will be, and how that impacts your lifestyle. Facing these truths may feel uncomfortable, but doing this emotional and financial prep work now will pay off in confidence and peace of mind down the road.
Create a post-divorce budget
Creating this budget can feel daunting! We know. First things first, acknowledge that it is hard and scary, and decide to take that first step. Knowing where you stand and having a plan will make you more confident and bring you more peace.
Review what money is coming in each month (income) and what money is going out each month (expenses.) Get clear on what you “need” vs what you “want”. Focus on your short term and longterm goals and write down how you want to reach them. Unexpected expenses will undoubtedly crop up, so create a cushion of savings to fall back on if you can – it will help ease your financial burden … and your mind. Aim to have at least three to six months of living expenses saved.
👉 For more info and tips for creating your post-divorce budget → 💡 HEAD HERE 💡
Monitor your credit score
Managing your credit might not be the first thing on your mind when you’re going through a divorce, but maybe it should be. Solid credit is critical to your long-term financial health. Divorce itself does not affect your credit score. What does negatively affect your score are the financial shifts and changes to your norm (ie mismanaged joint accounts, late payments etc.)
First thing you should do 👉 Go to Annual Credit Report and request a copy of your report from all three agencies, Equifax, Experian, and Transunion. Under federal law you are entitled to a copy of all 3 reports annually. Confirm that everything is accurate and up-to-date.
Second thing you should do 👉 Read 7 Key Steps For Protecting Your Credit
Consult an expert (or several)
If you’re overwhelmed by the thought of tackling this financial journey on your own, we’re here to tell you there are many fantastic professionals available to help. You don’t have to do it alone!
A financial planner can help you create a budget that fits your post-divorce lifestyle or provide advice on how to adjust your budget as your circumstances change.
Certified Divorce Financial Analysts brings financial insights you might not even realize you need, making those tricky money decisions easier and giving you more confidence as you go through the process. (Click on the link to read the full post! 👆)
Get clear on your goals and where you will and won’t compromise
Divorce is a whirlwind of emotions, decisions, and tough calls, but one of the smartest moves you can make is to get clear about what really matters to you. Here’s how to stay grounded and keep things moving in the right direction:
- Know what you want (and don’t) – Make a list of your priorities in order of importance. What do you absolutely need? What could you live without? Think of it like negotiating—giving up something less important might help you secure what you truly care about.
- Set realistic expectations – It’s easy to think you deserve it all, but the reality is divorce is about fairness, not revenge. The more reasonable you are, the smoother the process will be. Fighting for everything can drag things out, cost more money, and create unnecessary stress.
- Think long-term, not short-term – Your goal is to move forward, not get stuck in the past. Keep your focus on what’s truly worth fighting for, and let go of the rest. The time, energy, and money you save will be a gift to your future self.
Divorce is tough, but clarity and composure are your secret weapons. Know what matters, compromise where you can, and approach it all with integrity. Take it one step at a time, be patient with yourself, and remember: Every small win is a step toward the stability and independence you deserve.💫♥️
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