The transitional period following a divorce is more than just emotionally strenuous. It is crucial to have a pre-established exit strategy that protects one’s financial stability and allows for growth following the transitional stage. Without proper preparation and responsible action, it is very easy to find oneself down the river without a paddle.
Author, radio host, T.V. personality, and professional planner, Peter Dunn, offers these tips to make sure your former fiancé doesn’t wreak havoc on your finances. Change passwords, create avenues to protect your personal health, and make a conscious effort to live within your means until all is settled. While these tips may seem like simple actions, neglecting these basic changes may potentially lead to exponential financial burdens.
The bottom line: get educated. Don’t allow speculation and assumption to be the basis of your divorce. Be proactive and minimize expenditure while preserving your personal health and economic stability. Seeking professional guidance and covering your personal assets will allow for a more seamless transition into positive personal and financial independence.