Budget for Your New Beginning Financial Tips for Divorce Survival Divorce can be a complex situation, both emotionally and financially. While no two divorces are the same, there are steps everyone going through the process should take to prepare their new budget. From managing divorce-related expenses to gathering the proper documentation, we’re exploring the best strategies to set you up for financial success on your new journey. KEEP TRACK OF YOUR EXPENSES. As soon as you know a divorce is on the horizon, it’s essential to keep track of all your expenses and expected costs. Record what you spend on bills, food, home care, transportation, child care, and anything else you purchase. By clearly understanding your expenses, you can build a better budget for yourself. This information will also help your attorney and judge decide how to divide assets or calculate child support. Consider future potential costs you may incur, like car insurance as your child becomes driving age or one-time expenses. GATHER YOUR DOCUMENTATION. You should also provide your attorney with a history of your marriage’s financial health. You’ll need to have a number of documents available, including bank statements, loan ledgers, credit card statements, recent pay stubs, and tax returns. It’s wise to start collecting this early, as it can take some time to prepare. WAIT TO MAKE MAJOR FINANCIAL DECISIONS. As anxious as you may be to reach economic independence from a soon-to-be ex, it’s important to hold off on making significant financial changes. Upon the filing of a Complaint for Divorce, a mutual mandatory injunction goes into effect that enjoins the parties from dissipating or making significant changes to financial accounts, such as retirement accounts or dropping the other party from insurance. Navigating the financial aspects of divorce requires careful planning and attention to detail. By keeping track of your expenses, gathering the necessary documentation, and refraining from making major financial decisions prematurely, you can position yourself for a smoother transition into post-divorce life. If you need assistance navigating the divorce process, please contact one of our experienced divorce lawyers at 901-388-5805 .
Delightful Banana Bread
This comforting, fruity favorite transforms overripe bananas into a moist, delicious treat perfect for breakfast or a snack.
INGREDIENTS • 2 cups all-purpose flour • 1 tsp baking powder • 1 tsp baking soda • 1/4 tsp salt • 1/2 cup butter, softened
• 1 cup granulated sugar • 2 large eggs • 2 cups mashed ripe bananas • 1/2 cup chopped walnuts (optional)
DIRECTIONS 1. Preheat oven to 350 F and grease a 9x5-inch loaf pan. 2. Combine flour, baking powder, baking soda, and salt in a medium bowl. 3. In a large bowl, beat butter and sugar until light and fluffy. 4. Add eggs and mashed bananas and mix until blended. 5. Gradually add dry ingredients to wet ingredients, stirring until blended. 6. Stir in walnuts. 7. Pour batter into prepared pan. 8. Bake for 65–70 minutes or until a toothpick inserted into the center comes out clean. Let cool before serving. INSPIRATION “Some of the best memories are made in flip-flops.” —Kellie Elmore
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