- Stop using credit cards;
- Create a budget;
- Start an emergency fund;
- Seek discounts.
Proactive Budgeting and Divorce
Experiencing a
divorce
engages a spectrum of emotions and life changes that can be tough to navigate.
Financial issues may compound the matter. Financial issues can involve
becoming a
custodial parent
later in life and contending with footing bills for the education of children,
or caring for ailing parents. A recent
story in the
Chicago Tribune
cited Demos, a public policy organization, found that “Americans
over 50 are struggling with a surprising amount of credit card debt.”
Credit card debt, emergencies, and careless spending habits combat a sense
of financial security, but there are several ways to prepare for a change
in income:
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