8. Divorce May Bring You Down So Be Careful
It is not very easy to get divorced; women are the worst hit by the effect of divorce because they are often granted the custody of the children. Even when properties are shared equally they can never meet up with the demands from hope. It is beneficial for you to depend only on your self. Although, it is a great privilege to have children and care for them but at times,
While caring for children is certainly a privilege, the cost can be a heavy burden. Lesson: The only person you should depend on for your financial security is yourself, even if you are married. Some things to consider to plan against the possibly detrimental effects of divorce:
Don’t forget to put yourself first: Even if you have joint accounts with a partner, make sure you’re maintaining your own individual accounts, including an emergency fund.
Maintain an individual line of credit: If you don’t have any major credit card in your name , open one so that in the event of divorce and the dissolution of joint accounts, you’re still maintaining your own personal credit history.
Take an inventory of all your assets and debts, including all “non-marital” assets that are considered to belong to only one spouse. This is crucial information to have on-hand for your lawyer, and for yourself, so you’ll know where your money is and where it goes.
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