Olivia's Story, Divorce

I recently got divorced after being married for nine years. I knew I had to stop and think about my finances and do some planning to make sure I could support myself and my daughter. From my experience, I recommend that every woman who thinks she may get divorced in the future or who is going through a divorce now do some of the things I did:

1. Know your financial situation. Many times a spouse makes more financial decisions than the other. Are your bills paid on time? How much debt do you and your spouse have?

2. Get credit in your name. After getting divorced, many women find themselves without a credit history because loans and credit cards were in their ex-husbands’ names.

3. Open a bank account. Open a checking and/or a savings account in your name if you don’t have one already.

4. Make a plan that that will rely less on child support in the future. The child support payments may stop coming one day. Create a budget and start saving. (In some states, parents have a right to visit their children even if they are not paying child support.)

You can make it on your own. My mother made it as a single parent in the 1970s, and I know I am going to make it too. Take care of your finances, and also take care of yourself so that you can look after your family.