Divorce Is Cue To Manage Your Money
Divorce Is Cue To Manage Your Money
One of the things you hear a lot about in coverage of divorce trends is that women generally don’t do as well financially as men in divorce settlements. That, of course, makes it critical for you to really take stock of your finances and play an active role in managing your money, particularly if it was something you deferred to your ex during your marriage. If you’re going to be on your own, you no longer have that luxury.
It’s interesting that this trend of men getting the better end of the deal isn’t just an American thing. Britain’s Daily Mail reported the other day on a study that found divorced women in the U.K. have the same problem. Married British men are more likely to contribute to pension plans than married women. And among divorced people in England, men are more likely to be setting money aside for savings.
There’s really no way to overstate the importance of getting your financial house in order after a divorce. It may seem like one more burden at an inopportune time. But if you haven’t been active in investing or planning for your future or your children’s future, you should consider meeting with a financial advisor. Even if you don’t have money to invest, you can start making plans for when you do. It can be an intimidating thing, but you’ll be surprised how your anxieties decline once you start taking action.
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