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The divorced person’s financial reality

On Behalf of | Jun 10, 2019 | Divorce

If you are like many divorced or divorcing people in Indiana, you are aware that your financial situation is likely to be quite different after your divorce than it was while you were married. All of a sudden, two households must be supported on the same income amount that supported only one before. On top of that, you might be ordered to pay child support or spousal support every month. As much as you might want to join your friends for an evening out, you can feel pulled to stay in because you cannot afford the luxuries of going out as often as you used to.

These are just some of the realities that may contribute to why many divorced people avoid talking about their financial matters with friends or family members. According to a CNBC Invest in You and Acorn Savings Survey, more than half of all respondents who have been divorced indicated that they do not share details of their financial situation with others. It is believed that a feeling of shame or embarrassment may contribute to this.

While some discretion can be useful when choosing what to say to whom, it can be valuable for divorced people to find trusted people to share some details with. This may allow them to get support that can direct them positively for the future. 

If you would like to learn more about how you might best be able to get the support you need to effectively manage your monthly budget after you have gotten divorced, please feel free to visit the post-divorce financial strategies page of our Indiana family law website.

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