The Financial Consequences of Getting Divorced – 4 Tips to Help You Survive

There are not only emotional issues to take into consideration when a couple gets divorced for the woman. For the women there are also the financial consequences of divorce which need to be taken into consideration. So it is important that they are cautious with their finances both during the divorce proceedings and after the divorce has been finalized.

The majority of women after getting married and having children will choose to give up their careers in order to care for their husband, home and children. For many they only realize that this was a mistake when they separate from their partner and they often feel financial vulnerable as it is their partner who dealt with such matters previously.

However, below we offer a few tips to help women cope with the financial consequences of divorce. This way they can help themselves to ensure that they have all the financial assistance they need at what is already a very stressful period in their lives.

Tip 1 – If you have no understanding of financial planning then it would be an idea to gain even the most basic of knowledge. However, don’t worry that you need to enroll yourself on a course which will cost you money but use the internet as a way of obtaining the information you need.

There are plenty of places online which can teach you about your various savings options . Plus there are many of sites that can help you learn more about the kinds of allowances you are entitled to. Also through these sites you can learn more about state pension schemes as well.

Tip 2 – It is important that you make sure you claim for all those benefits which you are entitled to. For those who are on a low income and wish to stay in the marital home to prevent upheaval for the children then there are schemes that can help you. In the UK for example there is the housing benefit scheme, which helps women with making their mortgage interest payments when they don’t have sufficient income.

Tip 3 – Should you need to move in to rented accommodation then you could be eligible for help with your rent either by being provided with an allowance or rebate. To find out what you are entitled to you need to contact your local housing authority. It is these same people who should also be able to help you if you find yourself without a home or cannot afford to have a home.

Tip 4 – It is important that you check to see if you are eligible for any benefits. There are many organisations that will help you get anything you are entitled to. If you are entitled to claim and ensure that you claim them. If you live in the US there will be less help available than if you live in The UK or Europe.

If you live in the UK there is plenty of help available. There are going to be benefits which you are entitled to such as winter fuel payments, council tax benefits and pension credits. Plus if you are a single mother you will be able to claim tax credits and help towards the costs of any childcare that you need for your children.