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  • Writer's pictureLori Hammer

Empowering Your Finances After Divorce: Practical Tips for Financial Independence



Family Law resolutions offer opportunities to make a fresh start and improve your life. For help with your divorce, parentage, including child support and parenting time, prenuptial or postnuptial agreements in Chicago, call Angela Larimer at 773-370-0600 or email Angela at angela@larimerlawllc.com.


If you're reading this, chances are you've recently gone through the rollercoaster of emotions that comes with divorce. Amidst the whirlwind of changes, one aspect that often demands immediate attention is your financial well-being. Transitioning from a shared financial life to standing on your own two feet can feel daunting, but trust me, you've got this.

Let's talk about empowering yourself financially post-divorce.


First things first: budgeting. It might not sound glamorous, but creating a budget is like having a roadmap for your finances. Take some time to sit down and assess your income, expenses, and financial goals. Start with the essentials – like housing, utilities, groceries – and then allocate funds for savings and discretionary spending. It's all about finding a balance that works for you.


Next up, investing. Now, I'm not talking about Wall Street or complex financial instruments here. Investing can be as simple as setting aside a portion of your income into a retirement account or a low-cost index fund. The key is to start early and stay consistent. Remember, investing is about playing the long game – it's like planting seeds for your financial future.

Building credit is another important step towards financial independence. Your credit score can impact everything from getting a loan to renting an apartment, so it's crucial to keep it in good shape. Start by checking your credit report for any errors and then focus on paying bills on time and keeping your credit card balances low. Over time, responsible credit usage will help boost your score.


But here's the thing: financial independence isn't just about dollars and cents. It's about taking control of your life and your future. It's about feeling empowered to make decisions that align with your values and goals. So, as you embark on this journey towards financial independence, remember to be kind to yourself. Rome wasn't built in a day, and neither is financial security.


Take it one step at a time. Celebrate your victories, no matter how small. And know that you're not alone – there are resources and support systems out there to help you along the way.


You've weathered the storm of divorce, and now you're ready to chart your own course. So here's to you, and here's to the journey ahead.


With determination and a little bit of financial savvy, you've got the power to create the future you deserve.

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