If you are getting divorced, most likely your financial situation will be negatively impacted, especially while the divorce is going through the court process. If you want to save money, the first thing you will need is a separate bank account to put any saved money into. The next thing to do is to have a budget sheet with your income and expenses stated.
The six ways to save money are:
#1: Consider getting rid of: cable television, Netflix subscription, and other subscriptions. If you pay for Netflix and cable television, you might want to consider getting rid of one them. You might also have other subscriptions that can be cancelled.
#2: Make your own lunch, dinner. Eating out is expensive. Making your own lunch or cooking your own dinner will save you money.
#3: Use Coupons. Its sort-of-old-fashioned, but coupons can save you money.
#4: Insurance: Although, you may be required to maintain insurance during your divorce, you are allowed to switch some insurance policies. You should see if another insurance company can save you money on your premiums. Before you switch, double-check with your divorce attorney.
#5: Downsize your car: You might be able to save money by downsizing the car you are driving or getting a car that gets better gas mileage. Again, you will need to check with your attorney before making this decision.
#6: Forced savings: Open up a saving account at a new bank that you don’t currently use. Every time you get a pay check (or if you don’t get a pay check, then twice a month), take 2% to 10% of your pay check and have it automatically transferred into this new savings account. Unless, there is an emergency, do not use this new savings account to pay for anything for at least one year. Even after the one-year period is concluded, see how much you have saved and see what you can re-adjust to keep this account growing.
Saving money during your divorce can be difficult, but, little by little, if you keep saving money, you might be able to get some significant savings.
David Badanes, Esq. and The Badanes Law Office, P.C. have represented and helped numerous clients in their divorce and in helping them get their divorce over as soon as possible. If you are thinking of getting divorced, call David Badanes and the Badanes Law Office today at 631-239-1702 or email at firstname.lastname@example.org.
The Badanes Law Office has offices in Northport, Suffolk County and Garden City, Nassau County.
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