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Divorce Resources for Women

‘Savings’ Category

Believe It Or Not An Amicable Divorce Is Possible

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The news is routinely filled with sensational stories of divorce gone wrong. We read about vindictive spouses who are hell bent on destroying their exes. We read about greedy lawyers who fan the flames of conflict so that divorces last longer and they make more money. But think about it. What we never read about are stories of an amicable divorce.
No one hears about the people who somehow manage to end their marriages without spending their lives’ (more...)

Your ‘Net Worthy’

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Welcome to “Your Net Worthy,” a WIFE.org blog that will share tips and tools to increase something equally if not more important as your net worth:  it’s called your “net worthy.”
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Net worth is defined as a snapshot of where you are at financially:  what you would have in cash if you sold everything you owned of value and paid off any debt.  Obviously, it is a fluid (more...)

Divorcing And Not Working? You Might Regret It

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If you’re divorcing and not working, you might regret it. Why?
Standard advice used to be not to go back to work as it would likely impact the alimony you’d receive and not just the amount but also the duration.
You’ll rarely hear that advice these days. Gone are the days of lifetime maintenance, and if you’re not working you’re at risk of being treated as voluntarily unemployed. That (more...)

Do I Have to Claim Child Support Income on My Taxes?

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Question:
Last year my divorce with my husband became final and he started paying me child support for our two daughters. I’m going back to school, and the child support and alimony make up a lot of the money I get (I also work part-time). This is the first year I’m filing my taxes as a single since we got married. Do I have to claim the child support as income? Will I end up (more...)

What’s Your Relationship With Money?

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Divorce can feel like quite a shock to the system. Everything you thought you knew has changed. It may cause many to reevaluate their relationships with friends, family and themselves. You may also reevaluate your relationship with money.
Because of the financial strain of divorce, and the division of assets, it may become apparent that you have strong emotions around money. In fact, finances could be the reason for the strain in your marriage.
What is your relationship with (more...)

How to Make Extra Money After Divorce

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With the holidays in full swing, it can be tempting to overindulge, especially if you’re going through a divorce. You may want to spoil yourself or your children so that the sting of life changes don’t sting quite as bad.
The National Retail Federation is already predicting the average American will spend over $1000 on holiday shopping this year. It all feels good at the time but when the credit card bill arrives those feelings (more...)

A Guide To Starting A College Fund For Your Child Even Without The Help of Your Ex

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Nearly one-third of all households in New Jersey are headed by a single parent. Some receive support from their former partner, but a substantial number of single parents live on their own income. Frequently, a non-custodial parent is unable to contribute alimony or child support for a number of reasons.
This puts a lot of pressure on the custodial single-parent to provide for their children financially and give the children what they need. Money for college is no exception.
(more...)

Is An Uncontested Divorce Possible For You?

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The Basics of Uncontested Divorce
An uncontested divorce is one where all of the issues are settled without litigation by attorneys. It requires a couple to agree on all the important points, such as alimony, child custody, and how to divide their property. This is typically the best-case scenario because the divorce will be over quicker, and legal fees will be lower with less for lawyers to do in court.
A contested divorce is the opposite. Strong disagreements between (more...)

Divorce Without Damage – Your Parenting Plan

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Your Parenting Plan
This is an example of the sort of basic parenting plan that I help the parents I work with to create, as they go through the transition of divorce.
It will help you think through the numerous issues related to co parenting your children from now on – it is designed to get the conversations started ( without anger or misunderstanding) and of course it should be flexible as your children mature, grow up and become more (more...)

Four Personal Finance Basics Not Taught in School

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As our children go back to school, those going through a divorce have discovered that some things just are not taught in the K – 12. For instance, we were never taught the basics of personal finance in school. We had more years of high school and preparatory college math, which we may rarely need, than any financial literacy or education. Many of us have learned by trial and error.
During a divorce, we’re suddenly forced to (more...)