Did you marry young, have children right away and become a stay at home mom? Did you spend the majority of your married life helping your husband build his career? Are you now divorced and wondering how you are going to survive financially?
According to the U.S. Census Bureau, the average woman's family income drops by 37% after divorce. In other words women suffer more financially than men do from divorce. If you are a woman thinking about divorce I suggest you do some serious financial planning before filing.
If you are a woman already divorced, I have some suggestions that will hopefully help you survive the loss of income and get your finances in order.
You Can't Live On Child Support And Alimony:
Don't think of child support or alimony as income. Child support is temporary and, in most cases so is alimony. You have to set yourself up NOW so that you will be able to survive financially once those temporary support checks stop coming in. You have to make an investment in yourself that is going to give you a return down the road.
I've experienced first hand what it is like to go from not worrying financially to counting every penny I had. I know what it is like to be left with no marketable skills, children to raise, food to buy and a mortgage to pay. It isn't easy transitioning from housewife and mother to single working mother but it is...post continued