How To Manage Your Budget Post-Divorce

Once the ink dries on the divorce agreement you may be left wondering what happens now.  When it comes to your finances, this is a good time to re-evaluate your income, outgoings, and expenditure.  You will have a clearer idea of where you stand financially, and you will hopefully not have to pay any more money in divorce fees or associated costs.  This can be an uncertain time, especially if you were used to your ex-partner managing the finances while you were together.  However, you can go it alone with a little guidance.  Here are some tips on managing your budget post-divorce.

Work out Your Income

Once you have finalized your divorce, you will be left dealing with a reduced budget.  Write a list of all the money you have coming in every month. This includes your salary, alimony, child maintenance payments, and any investments or additional income you receive.  From this starting point, you will be able to see how much money you have to plan your budget with. Make sure you have considered everything you need to in terms of divorce finances. This guide will show you what you need to bear in mind when working out your financial situation during a divorce. The Ensemble app can give you some great ideas on tracking your budget and communicating with your ex if you are still jointly responsible for supporting children. 

Work out Your Expenditure

Work out how much money you need to spend every month to keep you going.  This should only include your necessary expenditure such as your rent, mortgage, bills, food, and childcare costs.  Don’t forget to include your car running costs or other transport expenses if you need to spend this to get to work.  Without it, you won’t have that salary coming in.

It may be challenging to work out some of your outgoings if you are newly divorced.  You may need to alter your budget to reflect the fact that there are fewer people to feed or that you may not need to factor in as much money for utility bills as you used to.  If you are not sure how much money you will need then it is best to be cautious.

Cutting Back

Cutting back on spending does not have to be daunting.  It could work out in your favor.  Look at areas of your outgoings where you could cut back.  Insurance and tax payments may be cheaper now that you have got divorced, so make the most of the savings. Make sure you are not still spending money for the sake of it on something you will no longer want or use now that your ex is out of the picture.  Shop around for utility and insurance providers.  You may be surprised how much money you could save yourself.  

Surplus Money

Once you have done your calculations, you will hopefully be left with a sum of money that comes in but doesn’t need to go back out again.  This is yours to do what you like with.  However, before you go on a shopping spree, you should remember that now you are on your own, any unexpected bills or expenses are your responsibility.  Save some of your money every month in a separate account and use this only for emergencies such as car repairs or appliance breakdowns.  That way you will know where to get money from if the unexpected happens. 


You should try to save some of your money towards your long-term savings.  For example, now that you are divorced, this may change your retirement plans or your ability to finance them.  Setting up your own provisions would be a wise move here.  Plan for things such as birthdays and holidays so that you don’t have to get into debt to give yourself these treats.  

Emotional Spending

If you are still feeling emotional about your divorce, it can be easy to overspend and have nothing to show for it.  Your heart may tell you that you deserve a sports car after the unhappiness you have suffered but your bank balance might be telling you something else entirely.  Try to restrict your large purchases for the first six months, even if you have decided that you have the money to spend.  That way, you will make wise decisions rather than reckless ones that you come to regret later. 


You deserve to have some fun and the money you have left every month can be put towards things you want, nights out, and treating yourself.  If you stick to your budget and plan your spending, you should manage your post-divorce finances just fine. 

Arranging your budget following a divorce doesn’t have to be difficult or scary.  Follow this guide to make sure you have enough money to enjoy your best life after the dust has settled.

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