01 May Divorce, Finances and Financial Abuse
Divorce is devastating. Not just to you as a person thinking about how to move forward as an individual after spending time with someone as a unit of two, but also with respect to your finances. One set of bills becomes two. One bank account becomes two—with half the amount in each. Rent that was shared is essentially “doubled.” It can be even more difficult when there was domestic abuse or violence in the marriage, especially if that abuse involved financial control abuse. Some victims of abuse are cut off from their own finances completely, as a method of control to ensure the victim remains in the toxic relationship and has no means of leaving. In those circumstances, finance after divorce can be even more intimidating and confusing.
We suggest you read this excellent article (“Starting over: How to rebuild your finances after escaping a financially abusive relationship”) in Bankrate.com to learn more about what you can do to take your power back after a divorce and set yourself up well for your future finances: