divorced women find themselves in control of the household

* Rebuild credit. If your home was recently foreclosed but you wish to be a homeowner in the future, know that it could take anywhere from two to six years before a lender will offer a reasonable interest rate. In the meantime, it will tiffany be important for you to rebuild your credit You can do this by paying all of your bills in full and on time. Also make an effort to pay down outstanding debt. In addition, a credit counselor can help you devise a financial management plan.

* Educate yourself. Many divorced women find themselves in control of the household finances tiffany key pendant for the first time after their marriage ends. If this describes you, make a point to attend financial literacy workshops and read as many educational materials as you can.

* Manage accounts. tiffany jewelry on sale Don't forget to remove your former spouse as the beneficiary on your life insurance forms and on your bank and retirement accounts. Also remove your name from joint bank and credit card accounts.

* Rebuild savings. Divorce can be hard on the wallet. Make savings a priority, In time, Taylor plans to rebuild her savings, which was eaten by attorney's fees. She estimates that by moving back in with her parents, she is saving more than $1,000 per month. She contributes $100 per month to her emergency fund. $50 biweekly to her son's college fund, allocates 10% of her paycheck to her 40l(k), and saves all the income from her side business. "Save more, spend less, and invest wisely," advises elsa Linda Leitz, CFR Create a livable budget and realistic lifestyle. In addition, having dependents makes it vital for you to be properly insured Make sure that you have adequate disability and life insurance.

* Assemble a power team: "Divorce is emotional and a lot of women just want to get it over with," says Barbara Stanny. author of Secrets of Six-Figure Women (Harper Business; $23.95). A good team will include a financial planner, attorney, and accountant and they should give you sound advice and hold you accountable.