Four Expert Tips for Organizing Your Finances After a Divorce

It is worth considering that only in CABA the Civil Registry and Capacity of the People of the City of Buenos Aires reported that 4,480 couples decided to break their bond during the first year of the pandemic. However, there is an important issue and that is what happens to the economic and financial situation of each of the parties.

 

“There is no doubt, that when two people decide to break their marriage bond, they must reorganize many aspects of their life and one of them is to restructure their economic situation. When joint liabilities must be cancelled, each member can take out an individual credit and take their share independently,”said Florencia Valdes, who is marketing manager for the platform Adelantos.com

 

The 4 tips in personal finance after a divorce

1. Erase and new account: talk and reach an agreement to solve the expenses they have together.

2. Settle joint debts: debts incurred during the union are settled.

3. Rethink the budget: restructure the budget to have a clear perspective of the personal economy.

4. Saving to power: it is recommended not to carry out large operations but to think about starting a project to generate new investment, savings or emergency funds.

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