Divorce will have many impacts on your life, including your financial life. But, these impacts will not be direct when it comes to your credit score. A credit report does not mention whether or not you are married, which means filing for a divorce will not reduce your credit score. There will, however, be indirect impacts from the divorce that hurt your score.
Social media has become part of our daily lives. Millions of people have Facebook and Twitter accounts along with a presence on various other social sites. People post just about everything they can find on these accounts, including pictures of their life and other personal activities.
It's common for a family to enter into a fight upon the death of the father or mother, or both. This often occurs when there is no estate plan in place or when the estate plan is not effective. Family fighting after the death of a loved one is never easy. Most fights are over the inheritance left behind to the adult children because they feel it's not fair. Here's how you can use an estate plan to avoid fighting.
Going through a divorce is never easy, even if you and your spouse knew this day was coming. Divorce is difficult for couples of all ages and lengths of marriage, and it is especially hard on children. Divorce can also have a ripple effect on your credit score. The physical act of divorce will not hurt or improve your credit score, but all of the financial implications from divorce can negatively impact your credit.
Divorce is going to impact your kids no matter how old they are when it happens. It changes their lives. Whether you have a newborn or a high school senior who is about to leave for college, they have to deal with these changes.
Do you find yourself wondering why so many marriages end in divorce? You understand that there are specific reasons in many cases, such as abuse, alcohol addiction, etc, but you also see a general trend of relationships just not working out. Why do people find it hard to maintain that connection?
Your divorce taught you a lot about your finances. Maybe you split up because of financial problems; money is a common reason that couples cite when asked. Maybe you just found out more about dividing up assets and what financial red flags to watch out for. Maybe you had look at your finances in a brand-new way once you were on your own.
Thinking of ending your marriage? Reading the divorce papers that your spouse just handed you?
When you are facing divorce, you need to be conscious of your financial decisions. After all, you and your spouse will soon need to split up your assets and your income and costs will both change after you finalize the split.
If you are used to living on two incomes because you're married, getting divorced is going to reduce your household earnings. You'll have to learn how to live off of one income. But just how dire may things get? Could the divorce have a seriously negative financial impact?