Statistics show that divorce is one of the most common causes of financial problems. If you’ve just been through a divorce, follow these simple steps to get back on your feet.

Create a New Budget

If you are no stranger to budgeting, it might be a little easier for you to recover financially. Still, the transition might be a little challenging as you would now have to budget for one income without the comfort of having someone to share the bills with. You might also have new expenses to deal with, such as babysitting.

Stack Up Your Emergency Fund Fast

No one is immune to financial emergencies. Divorcees are especially vulnerable to surprise expenses, so it’s important to have enough cash set aside to tide you over during tough times. Avoid spending on unnecessary stuff and if necessary, take on extra work to build your emergency fund quickly. If you have no idea how much to save, a good rule of thumb is at least three to six months of living expenses.

Improve Your Credit Score

Debt might be unavoidable when you get out of a marriage. If it’s not possible to pay off everything from your divorce settlements, make sure to deal with your debts ASAP. It’s common for your credit score to dip after divorce, which can be detrimental to your financial health. While it may be challenging to settle everything, try to pay above the minimum and before your due dates. After paying diligently, you can see a slight increase in your credit score.

Learn New Skills

If you were the stay-at-home partner during the marriage, it could be challenging to rejoin the workforce. Even if you could get a job, you may not be paid your desired salary. Learning new skills can make you more marketable. Eventually, as you gain experience, you could earn more and live comfortably even with the solo income. Taking the time to learn and grow your skills can also lessen the pain from your divorce.

Hire a Divorce Attorney

A legal expert will guide you through the complexities of divorce and ensures that your rights are protected. A divorce attorney will also fight for you so that you can receive a fair share of all the conjugal assets. Visit http://www.gutilaw.com/divorce-and-family-law/ to talk to a divorce expert.