Top Financial Challenges Faced By Divorced Mothers
When you know the challenges that lie before you as a single mom, it becomes easier to prepare an appropriate action plan so that you can take care of the kids in the best possible manner in your next stage of life. Here are some of the top financial challenges moms face after a divorce gets finalized.
Ways of paying the bills
One of the top financial concerns for the newly single moms is paying the monthly mortgage or bills. It can be an overwhelming and daunting affair to take care of the household utilities. However, do not despair and give up hopes. You can get through the trying time through many ways. For instance, you can sell off your house and move in with your close friends or family members during this trying time so reduce the financial burden. Alternatively, you can also contemplate refinancing your house to procure a lower rate.
Providing necessities for the family
It is quite likely that your household income could have been slashed considerably after your divorce. You could be a homemaker while being married. There are other financial concerns after your divorce too such as clothing and school supplies. After all, these can be expensive too. A serious concern for you as a divorced mother is to look out for ways of providing for the entire family.
Getting the required money to pay for childcare
If you are a newly divorced single mom, you may have a series of financial obligations that may compel you to join work once again or opt for double jobs simultaneously to meet ends. In fact, it can be a big blow as you, not only feel tired and anxious but cannot spend much time with your kids.
When you work full-time, you also need to look out for a reputable childcare facility to take care of your little ones when you are at office. You can take the help of your friends and family members to seek care for the kids when you are away from home until the time you start enjoying financial stability once again.
Finding a suitable place to live
It is a sad truth that 20 percent of the divorced women fall below the poverty line after their marriages end. Now, that is hardly an encouraging statistic for divorced and single moms who want to offer the finest housing facility and schooling situation to their kids. A serious financial concern after your divorce is where you will live. In case you are incapable of staying in your original house, you should not feel disappointed, you can get help from various assistance programs for housing designed specifically for single moms and families with low incomes, which can come handy during this difficult time.
To learn more about the divorce process in California and how mediation can help, please visit our page, What is Divorce Mediation.
Gerald A. Maggio is a trained Orange County divorce mediator who has amicably resolved cases many cases out of court, as well as an experienced divorce and family law attorney. Mr. Maggio founded California Divorce Mediators in 2012 with the belief that although “not every marriage can be saved, every family can” and a mission to save families from the financial and emotional distress associated with traditional divorce litigation. California Divorce Mediators is located in Irvine, California, and serves the Orange County area and other counties in California offering divorce mediation, child custody mediation and mediation of other family law matters.
