Financial and practical guidance for members recently divorced.

Suddenly Single

Living on your own again isn’t something you plan, but now we need to hit the financial reset button. Many people go through divorce, and no two situations are the same. The emotional aspects make it even more difficult to focus on practical realities that go along with being on your own again:

  •  Individual accounts versus joint
  • New credit and debit cards
  • Accounting for personal assets and debts based on the settlement
  • New living and income situations

 

Our Prospera LIFEstage™ Personal Guidance professional is here to help you through the practical side of this life change and guide you to firm financial ground again.

“Prospera helped me through everything in my time of need. I was trying to make ends meet each month, and they trusted and believed in me. They gave me hope that there is something to look forward to other than being alone. I can now financially be on my own thanks to the people at Prospera. You can totally trust them to help you with any problems you have. Prospera will be there for you.”

Sandy Noack - Appleton, WI

Your Financial Independence: Priority One

Dividing up assets related to your divorce can be amicable or unpleasant. So, we want to set you up quickly with new accounts and credit cards to secure your financial independence.

Your Second-Chance Budget

When a family breaks up, your personal budget needs an overhaul. Using our monthly budget spreadsheet template you’ll record:

  •  All income, from job to alimony payments
  • All living expenses without a spouse
  • Monthly debts left from the settlement
  • Divorce-related expenses

Many things typically change, so getting a clear picture of where you stand is a critical first step

It’s a New Day

A solid financial plan will not only reassure, but also help you focus on the future. A current budget typically tells you how things look presently. Now we’ll talk through a plan for moving forward.

  • Are you falling short of meeting expenses?
  • Do you need a loan to tide you over?
  • Do you need new transportation? Housing?
  • Where can you cut back to free up cash for things you want/ need for your new life?

We’ll determine what can be changed to improve your circumstances. Once you’ve made some decisions, you’ll feel so much more confident going forward.

Blue Sky Ahead

It can be hard to move forward, but caring for you and your future is important.

For so long it was the two of you planning a future together—sharing a home, security and prosperity. Now you’re independent, and building a future for yourself and maybe kids. Taking care of you is just as important as it was before. We’ll discuss:

  • Debt consolidation and reduction
  • A savings account and/or loan for a house or car
  • Contributions to your 401k or IRA
  • Investments for college tuition or financial security down the road

During this emotional transition, securing your future financial goals can be a real comfort; let’s find that clear horizon together.

Great resources to make sense of your finances