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There are many changes that come with getting divorced. One of hardest hitting is the financial effects. Managing expenses as a single person is quite a change. You may not even realize the strain it may put on you or even understand the total impact until after your divorce when you have to deal with everything.

One thing you may not think about is the daily expenses, such as housing. Business Insider explains it can be expensive to maintain your own home on one income. Before, you had a spouse who shared in the expenses with you, but now, you have to be responsible for everything, from the rent to the utilities.

Another area that may be a surprise is the impact that a divorce has on your retirement. Even if you maintain your retirement account, you still lose out. Together, you and your spouse likely had plans and the finances to back up those plans. That changes because now you have less money, so you will probably need to adjust your plans and possible even work longer to afford retirement.

The impact of your divorce on your taxes is another shock. You lose the ability to file as married, so that will increase your tax liability. This is especially tricky if you own a business and have to pay self-employment taxes.

Finally, emergencies are now a little harder to handle because you will not likely have as much savings or emergency funds. An unexpected expense could cause serious financial hardship, especially if it happens soon after your divorce before you can build up emergency funds or savings.