Deal With Money Issues

Deal With Money Issues



Divorce,​ how to​ deal with money issues
You need to​ find ways to​ save money during the​ divorce so you don't end up going into debt or​ needing a​ second job .​
When your marriage is​ over,​ the​ last thing on​ your mind should be your money,​ but it​ usually is​ .​
You have to​ learn ways to​ protect yourself so that you have money to​ live on​ through the​ divorce and after the​ divorce .​
You will find yourself angry and confused after you have announced your split,​ but you shouldn't feel overwhelmed about the​ money you may lose .​
Many people find out the​ hard way what divorce really means,​ and it​ usually means they leave you with half your stuff .​
First,​ you should never get married without a​ prenup .​
If you don't have the​ prenup,​ you will be in​ so much water when the​ divorce comes .​
You don't need a​ prenup just if​ your rich,​ you need a​ prenup regardless off your assets .​
When it​ comes to​ your finances,​ why on​ earth take any chances of​ losing good,​ hard-earned money? Secondly,​ you need to​ know your finances throughout the​ marriage .​
You need to​ know where at​ least 80% of​ the​ money,​ if​ not all the​ money,​ goes .​
You need to​ know your wealth .​
You wealth is​ your assets minus your debts .​
If you have $10,​000 in​ the​ bank,​ and you have a​ total of​ $50,​000 (which is​ a​ combination of​ credit cards,​ mortgages,​ car payments,​ and other things that you may owe on),​ then you have $40,​000 worth of​ debt,​ you're wealth is​ nothing .​
However,​ if​ you own you own home and paid $40,​000 for it,​ and have a​ couple thousand on​ credit and a​ couple grand left on​ a​ car payment,​ you have a​ lot of​ wealth that needs to​ be protected .​
Even if​ you have debt,​ you want to​ make sure that you don't get stuck with it​ by protecting yourself with a​ clause in​ your prenup.
As for refinancing during the​ divorce,​ anything that the​ other person wants,​ make sure you take your name off the​ deed .​
If your cars are in​ both names,​ get the​ name taken off just so if​ they fall behind in​ payments,​ you don't have to​ worry about your credit being ruined .​
Usually,​ the​ house has to​ be sold and divided so you shouldn't have to​ do anything about your name on​ the​ deed .​
However,​ they can buy you out and then you will need to​ get your name off the​ deed and the​ mortgage.
To really know your finances you should get your credit report .​
Many credit vendors like credit card companies and credit lenders will let you know what your credit is​ for free .​
However,​ there is​ a​ $15 fee to​ know if​ you get it​ from a​ credit report company .​
You should also open your own bank accounts and always keep your money separate .​
This way you know what is​ yours and what is​ theirs .​
You will also want to​ keep your credit cards separate as​ well .​
This way you can keep your debt separate too .​
When going through the​ divorce you will want to​ think about cutting them off your health benefits at​ work .​
This way you can save money,​ plus get them off your benefits completely .​
You will want to​ change beneficiaries of​ any policies that you may have with your mate as​ the​ beneficiary .​
If you took his name,​ you can file paper work to​ regain your maiden name,​ however,​ it​ is​ costly; you may want to​ save this for later .​
You will also want to​ talk to​ your lawyer about the​ house .​
The house should,​ by rights,​ sell and the​ proceeds divided up.




Related Articles:



Related Topics:

Money News - Money Guide - Money Tips - Money Advice - Money Videos - Money Support - Money Questions - Money Answers - Money eBooks - Money Help



Powered by Blogger.