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Pittsburgh women can be financially prosperous after divorce

by | Jul 27, 2012 | Divorce

When Pittsburgh women get divorced, their financial future is one of their top concerns. Some women can suffer financially post divorce, finding themselves independent without a job and without many of the shared marital finances they had relied on. Others, though, find themselves better off in their finances after a divorce.

A study by Spectrem Group, a financial consulting firm, reveals that 62 percent of divorced women who are considered high-income feel that they benefited financially from their divorce. The top financial change these women, with assets of at least $1 million, experienced was an increase in financial literacy.

Many times, women traditionally allowed their husbands to oversee finances during a marriage, from income to bills to investments. As these women divorce, they are forced to gain an understanding of their finances — both during settlement negotiations and later when they are on their own. Many report that this allowed them to plan and invest smartly so that they may continue to grow their assets after divorce.

Not all post-divorce women have this same experience, though. As compared to women considered high-income, those with less than a $1-million net worth were not as financially stable after ending a marriage. This is understandable, considering women with a higher income have more financial means to survive on their own. Even so, all women — regardless of their net worth — can still benefit from being financially literate.

Whether a Pittsburgh woman faces financial prosperity or financial disparity after divorce, finances shouldn’t be a deterrent to ending a marriage that doesn’t work. When a woman or a man is financially literate and understands how to take care of themselves, they are likely to make the transition to single life successfully. It should not be forgotten, as well, the benefits of ensuring one receives their fair share of the marital assets during divorce negotiations. And that may well depend on becoming financially savvy concerning the present and future value of each item to be divided.

Source: Fox Business, “Why Women Are Financially Better Off After Divorce,” July 16, 2012