During divorce, parents worry about the effects on children, both emotional and financial. Since financial resources will be divided between two households, children’s academic tutoring or extra-curricular activities may have to be cut back. It turns out that for white families, a drop in family income has a negative effect on the educational outcomes for children, i.e. going to college or finishing college. More information can be found in this article.
When you start dating someone new, do you pay attention to their financial practices? It turns out that poor financial management abilities can be very detrimental to a successful relationship. Try to learn about your partner’s money management philosophy and skills to make an informed decision about your future as a couple. Read more in this article.
If you are a federal employee, most likely, you participate in the Thrift Savings Plan (TSP). Like your other financial assets, it will be divided as agreed by you and your spouse or as ordered by the court. In order to divide the TSP, you are required to file a Retirement Benefits Court Order (RBCO) that will be created as a result of a divorce, annulment or legal separation with the plan. You can learn more about dividing a TSP in this article.
When to start dating and moving on with life? That is a personal decision. For some of us, dating may be acceptable even during a separation while for others, it may be appropriate only when enough time has passed. How much time is an individual choice. This article provides some factors to consider when making the decision to date or not.