The Financial Side of Family Transition
Even if you are comfortable with all of the changes, you will still probably experience financial upheaval after a divorce or separation.
Money issues are often complex and multi-faceted. This webpage contains tools and information on specific financial situations that you may encounter after a family transition.
Managing Financial Changes
Keeping Track of Your Spending (PDF) — To understand your spending and saving, you first need to track it. Use this worksheet to help track and monitor your spending and saving. Part of Dollar Works 2: A Personal Financial Education Program. English (PDF) | español (PDF)
Spending Plan — Short Form (PDF) — Use this worksheet to summarize your monthly income and expenses. It will help you determine if you need to make changes to your monthly budget. Part of Dollar Works 2: A Personal Financial Education Program. English (PDF) | español (PDF)
What Happens to Your Property and Debt? — Dividing property and debt during a divorce or separation can be a complicated process. Use this resource to learn more about the basic ways to handle property division.
Financial Separation in Divorce (PDF) — Getting divorced involves lots of decisions, including how to separate your and your spouse’s finances. Use this fact sheet to help prepare for a financial separation.
Credit Issues with Divorce — Reviews things to consider related to credit and divorce.
Financial Decision-Making Tools
Debt Load (PDF) — Unfortunately, debts do not just go away after a divorce or separation. This fact sheet will review what will happen to your debt when you go through a family transition.
Homeowner Decisions (PDF) — If you are a homeowner, you have additional home-related decisions to make after a divorce or separation. This fact sheet reviews things to consider during that process.
Retirement Benefits — Retirement plans can be complicated and confusing, even without adding a divorce or separation to the equation. Use this resource to help develop a financial plan for retirement post-family transition.
Assets: Savings and Investments — During a divorce or separation, most people experience changes in their assets. This fact sheet will help you retain the assets that you need to meet the needs of yourself and your children.
Costs of Raising Children
Your Children's Financial Future: Preparing for Unplanned Changes — Eight questions to consider when you are experiencing unplanned changes that may affect you and your children’s financial future.
Protecting Children Against Future Risks — Your children are at special risk as your family’s finances are changing due to a divorce or separation. Learn what you can do to protect your children's financial well-being in the future.
Costs of Raising a Child Calculator — U.S. Department of Agriculture — It’s important for you to know the general costs of raising children so that you can plan accordingly. Use this online tool to estimate what it will cost you each year to raise a child.
Adjusting to Income Loss — Strategies and tips for minimizing the effects of reduced hours or job loss.
Financial Capability — Comprehensive website that offers trustworthy education for informed financial decisions.
Youth and Money — Find resources to help teach your children and teens financial literacy skills.