Getting Divorced? Time to Rethink Your Budget

Getting divorced can wreak havoc on not just your emotions but your finances as well. Once you go from a dual-income household to a single-income existence, you'll need to rethink certain aspects of your budget and make changes to ensure that you're not overspending. Here are a few key areas to focus on.

Many married couples buy homes together with the assumption that they'll have two incomes to help cover the mortgage. What this means is that you might struggle to cover your mortgage once one of those incomes disappears. Even if you win the right to remain in your home as part of your divorce settlement, you'll still need to run the numbers to see if you can actually swing the costs involved.

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Source: Fool.com