Financial Advice

The breakdown of a relationship can bring significant financial problems. Generally one party is left in the position of having to find another place to live and you are likely to have long term joint financial commitments such as mortgages, bank accounts and savings which all need to be divided. It is also a time of additional expense as new items need to be bought to replace shared possessions.

This will be a period of adjustment and if you are divorcing it may be some time until a final financial settlement is reached. This may be the time to look at priorities and tighten control of spending. It may be the first time for a long time that you have had to manage your finances alone.

Take an honest look at your finances and those of your family so you can put in place tactics for financial survival. Here is a budget planner to get you started on looking at where you are spending and how you can manage on your new budget.

However daunting the financial paperwork may seem, it is best to stay in control of your financial situation and remember you now have the power to make all decisions. There are people who can help and advise you. You may find it useful to seek the advice of a professional financial adviser.