Divorces can be long, drawn out processes, especially if you and your ex split on unfriendly terms. Unfortunately, it can be difficult to separate your finances after a divorce, even if you both worked and had individual bank accounts. For people who shared a bank account and where only one person in the relationship worked, it can seem near impossible. Good family lawyers can help you gain financial freedom from your ex post divorce, so speak to one if you are having trouble.
Separating your finances:
The first thing to do when it comes to gaining financial freedom is separating your finances. Many couples share things like bank accounts and investments, which can make complete separation very hard. In this case, you need to either come to an agreement about how the funds will be split, or take the matter to a court (with the help of a good family lawyer). Close any joint accounts and open separate individual accounts so that your ex can’t see what you are spending your money on – after all, it’s none of their business after you are separated.
Find a job:
Many people get divorced and are left without an income. If you were a stay at home parent or student before your divorce, then one of your priorities should be finding yourself some work. Sure, your ex will probably have to pay some support if he has supported you for any significant amount of time in the past, but that isn’t what financial freedom is about.
Rather than becoming reliant on your ex’s payments, find yourself a job. It doesn’t have to be fancy, and it doesn’t have to involve a long-term contract – all that matters is that you get some sort of financial independence through your own income.
Don’t become reliant on things like child support payments:
Sure, if you are left caring for your children after a divorce, it is only fair that your ex provides child support. However, it is very important not to become reliant on these payments. Doing so will leave you tied up when it comes to your finances, and with very little financial freedom of your own.
Think about using a portion of your own income (once you have one) to support your children, even if it means that money is tight. Put any child support payments away for a rainy day so that you have something to fall back on if you lose your source of income.
Ultimately, it is up to you to become financially independent of your ex after a divorce. Things like separating bank accounts can only do so much. You need to find your own source of income and learn not to rely on support payments. If you can do this, you will be able to lead a financially independent life.