You and your spouse are finally getting the divorce you’ve been thinking about for years. Now it’s time to get real about your finances. Being single is often more difficult financially than being in a partnership. After all, you will only have one income and many of the expenses you used to be able to share will be your sole responsibility. These expenses and financial setbacks can be particularly difficult for women.
Studies have shown that women suffer more than men when it comes to financial setbacks after divorce. Although equal pay, employment and job opportunity for women have come a long way in recent decades, women are still behind when it comes to income earning and job opportunity metrics. Perhaps this is why a recent study revealed that 64 percent of women agreed that they experienced a financial crises after their divorces, and 59 percent of women agreed that they experienced a financial wake-up call after their divorces.
It is interesting to note that 51 percent of the female respondents in this survey claimed that they managed the financial affairs of their households, and 68 percent of these women said that they are currently feeling financially secure. Perhaps divorce did serve as a financial wake-up call for many of these women by inspiring them to take a new and more careful approach to their finances.
If you’re going to be getting a divorce in Pennsylvania, be sure to plan ahead and be realistic about what your finances will be like as a single person. Remember that you will need more money to live, and you won’t have a second family income to rely on. Rest-assured that with proper planning, you can weather almost any kind of financial storm.
At Laura Robbins Law LLC, we can help you protect your asset division rights to ensure that you receive the money and assets you’re entitled to in your divorce proceedings. This can also help you stay ahead of the game financially in the months and years following our divorce.