While divorce in Pennsylvania and the rest of the United States is common, this does not mean it is an easy process. Women are particularly affected by it, especially when it comes to their finances. One study showed that women are likely to experience a 20% decline in income if they have ever worked outside of the home after a divorce in comparison to men who typically experience a 30% increase in their income after a divorce.
Women often say that money is their top concern after going through a divorce. There are a few steps women can take to prepare for the divorce, including gathering important documents and saving money in an account that can be used later. Closing joint credit cards and improving their own credit score can be helpful. During and after the divorce, a woman will have to adapt to life on just one income. This means creating a budget and an emergency fund.
Another big concern that women have after divorce is their children. Of course, they worry about having money to care for them. Maintaining open communication with the children can be beneficial. It will encourage the children to work through their own feelings in a healthy way. Many women going through divorce have found that therapy is helpful, too.
Some people have the idea that women will walk away from a divorce with a small fortune, including the family home. However, this is rarely the reality. Some women speak to an attorney in order to discuss their situation. An attorney may provide information about dividing assets, spousal support, child support and other matters that arise during the divorce process. The attorney may be able to provide practical help when filling out the appropriate paperwork and filing for the divorce.