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13 million men and women have been divorced and the average person spends $20,000 on divorce procedings. While it may be as the song says, “cheaper to keep her“, that’s not always a realistic outcome and marriages unfortunately end in divorce.
According to Money Smart Divorce by Esther Berger, the financial impact of divorce on women is much more dire than their male counterparts.
That’s why this real talk with today’s guest is so important. I doubt anyone marries with the intention of dragging their former loved ones through the legal thrashing that is our court system, but it does happen. When you find yourself in that position, it’s best to learn from those who’ve gone before you. Our guest today has transitioned through divorce and a financial setback only to emerge smarter, stronger, and wiser from the experience.
We get to sit at the feet of a former divorcee and learn what women should do if they unfortunately find themselves in this position.
Keep in mind:
- Only 15% of divorced women receive any form of spousal support
- 25% of the women awarded spousal support never receive payment
- Less than half of women who are awarded spousal support receive the full amount
- After divorce, the standard of living for women drops 25%, while men it drops 5%
Divorce is not fun and it can create a significant financial hurdle for anyone, especially women, who’re forced to walk this path. If this is your reality, or you know someone facing this uncertain future, please tune in – you’ll find hope and helpful tips from today’s guest on the Midday Money Show.
Topics Covered on this Episode
- How an effective plan can help you overcome setbacks created as a result of a divorce.
- Helpful advice for people who may be facing an impending divorce.
- 7 post divorce, debt free tips from someone who’s regained control of her financial life.
- Real talk about how divorce impacts children, at any age.
“You have to have a plan if you want to become debt free and remain debt free.” ~ Ms. Doris
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