2. Revising your spending plan


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Revising your spending plan. “How will my income and expenses change now that I am divorced?”

After divorce your income and expenses will change. In most cases, what worked in the past will no longer serve you well. For many divorcees, household expenses may go down but income will likely go down even more. It is simply impossible for two households to make ends meet where one was able to do so previously.

The following subtasks may assist you in revising your spending plan. You will find detailed resources for these subtasks under the links in the right column of this page.

Subtask 1: Identify your past spending patterns

Subtask 2: Evaluate your past patterns in light of your new reality

Subtask 3: Develop a new spending plan


Divorce Tasks

1. Dividing assets and debts
2. Revising your spending plan
3. Managing your health care plan
4. Managing continuing financial arrangements with an ex-spouse
5. Protecting your loved ones financially if you were to die

Revising your spending plan Subtasks

1. Identify your past spending patterns
2. Evaluate your past patterns in light of your new reality
3. Develop a new spending plan

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