Securing Your Financial Future

After a divorce is final and you have split the assets and money from the relationship it is possible you may be one of the lucky ones and find yourself with a healthy financial settlement. Most people however discover they are in a much less secure financial situation than previously. If this is the case, careful planning and thought will be required to ensure your future financial security.

Re-establishing your financial life when single may be a daunting prospect so here are a few suggestions:

Think of your children first - what money do they need now and in the future and where is this going to come from? Your ex-partner should be contributing to their upbringing. If the payments are not forthcoming the CSA can enforce maintenance payments.
Basics matter most - a roof over your head, food, water, heat and light. Prioritise paying for those. If you are struggling then let the companies know - don't bury your head in the sand and let things drift into debt.
You will probably be able to save considerable amounts by switching your utility accounts to new providers. The average household could save £140 off their energy bills if they changed supplier. uSwitch.com have a calculator to help you work out how much you might save.
Make sure you have all bills set up in your name and a bank account in your sole name.
Using our budget planner gather information about your financial circumstances and draw up a sheet of your income and expenditure, assets and debts.
Make a financial action plan based on this information - this should have 3 sections. Ideas for saving money; ideas for earning more money and a section prioritising your outgoings and debts to pay.

If you need a cash loan of up to £750 then go to PaydayUK

You can find lots of useful information about debt, saving money and general finance after divorce at Motley Fool.

See the information lenders see. View your free Experian credit report online.