139 - Rebuilding After Divorce: A Financial Guide for Single Moms

DebtMatters Podcast

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1y ago 16:42

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In this episode of the Debt Matters Podcast, host Wayne Kay speaks with Derek Chase from Chase & Associates Licensed Insolvency Trustee about the financial challenges single moms face after a divorce. Learn the steps single parents can take to rebuild their stability.

Key Topics Covered:

The financial impact of divorce: Divorce affects up to 40% of marriages and causes money struggles, especially for single moms.
The connection between marriage and finances: Relationship changes, including divorce, are one of the leading causes of financial insolvency.
Seeking advice: Professionals like accountants, investment advisors, or a Licensed Insolvency Trustee provide helpful financial assistance for single moms. They also provide debt relief for couples you divorce with debt.
Initial steps for newly single parents: Learn how to take stock of your assets and liabilities and better understand your financial situation. There are even single mom grants you can take advantage of.
Creating individual accounts: Open a new bank account at a different institution so you have control and protection over your finances.
Establishing credit: Establish your own credit and avoid liabilities tied to your former spouse.

If you are a single mom, tune in for actionable insights on how to regain financial stability post-divorce.

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151 episodes