Whether you ask a neighbor who is divorced or a financial expert who specializes in this area, they will tell you one thing for certain: Nothing turns your financial life upside down quite like a divorce. Even those who live very modestly, with little to no sizable assets, can expect some level of financial upheaval. You may be searching for a new place to call home, or struggling to find a way to afford the home you currently live in, all while doing so without your ex’s financial help. All too often, divorcees see a major portion of their savings and income go right out the door once the divorce is underway, as settlements take root and assets are divided.
Add any debts that you have accumulated during – or since the end of – the marriage, and suddenly your financial life might appear to be in shambles. As grim as this can seem, there is always hope for a better, brighter financial future, especially when we educate ourselves and are open and willing to make changes moving forward.
Whatever your financial circumstances are as you divorce, there are many practical ways to remain living within your means and to place yourself in a position where you can save and reshape your economic life. Financial experts and divorce survivors alike emphasize that the key is to be patient with yourself. Allow for the emotional setbacks that come with divorce — rebuilding your financial standing will take time and you may make some mistakes along the way. Try the following tips to help cut back on your post-divorce expenses and make saving a priority:
Whether you seek a higher paying position to increase your income, downsize to a studio apartment, or a combination of both, making changes with your money is an essential and inevitable part of bouncing back financially after divorce. Speak with a knowledgeable Lombard, IL asset division lawyer today to ensure your financial well-being is protected throughout the divorce process. Speak with our dedicated team at Mevorah Law Offices LLC by calling us at 630-755-6426 today.
Whether you are going through a divorce, injured in an accident, need to file a workers' compensation claim, charged with a crime, immigrating to the United States, or need to file for bankruptcy, Mevorah Law Offices LLC can help. Our trial lawyers have over 40 years of experience helping clients throughout Northern Illinois from four offices in Lombard, Bloomindale, Naperville, St. Charles, and Chicago.
Steven Mevorah has assembled experienced attorneys under one roof so that his clients need not search for a new attorney each time they need help. Mr. Mevorah has also established a wide network of additional attorneys so that his clients merely need to stop by Mevorah Law Offices LLC to find the attorney they need.
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