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Managing money

Starting out on your own again can feel daunting, especially if someone else has been making the financial decisions until now.

This section explains the things you may need to think about when trying to maximise the income that is going to be available to you; how to budget so that you can manage on that income and any assets you are left with following financial settlement; and things to think about to get and keep your finances on a sound footing for the future. It also deals with the impact any future changes to you and your spouse, civil partner or partner's situation may have on you.

Budgeting, bills & benefits
Budgeting, bills and benefits

Getting used to new income and spending patterns, maximising your income and keeping control of your spending.

Find out more about Budgeting, bills and benefits
Bank accounts
Bank accounts

During and following separation and divorce you will need to deal with bank accounts you share and sort out new bank accounts.

Find out more about Bank accounts
Bank accounts
Borrowing

It is important to control your borrowing throughout the process and beyond as your income will most likely be less than it was when you were together with your partner.

Find out more about Borrowing
Bank accounts
Insurance

Reviewing existing policies, deciding what new policies you may need (including insurance for maintenance payments), shopping around and where to get advice.

Find out more about Insurance
Bank accounts
Savings and planning ahead

If you have savings and investments, you may want to speak to an independent financial adviser or your bank to make sure that your investments are in the best place to grow.

Find out more about Savings and planning ahead
Planning for retirement
Planning for retirement

If you are not yet retired, don't forget to plan ahead for when you (and/or your spouse or civil partner if they will be paying you maintenance) stops work.

Find out more about Planning for retirement
Writing or reviewing your Will
Writing or reviewing your Will

How splitting up affects any existing will or your rights where there is no will, why it is important to have an up-to-date will, how to draw up or change a will, what it will cost.

Find out more about Writing or reviewing your Will
Tax
Tax

Whether you can claim a council tax reduction, how splitting up could affect other taxes, the tax position where you and your former partner transfer assets between you, managing your tax affairs, where to get information and advice.

Find out more about Tax
Financial problems and debt
Financial problems and debt

Find information on how best to deal with financial problems
such as debts run up by your former partner or how to deal with your own debts.

Find out more about Financial problems and debt
Maintenance
Maintenance

Situations in which you have a right to support, how long it may last, the form it may take, what happens if your own or your
former partner's circumstances change.

Find out more about Maintenance
Future considerations and changes
Future considerations and changes

It is possible that in the future, you or your spouse, civil partner or partner's circumstances will change.

Find out more about Future considerations and changes

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