Tag Archives: marriage and finances

Hinsdale IL property divsion lawyerDivorce is financially stressful in virtually all cases. Many American families rely on two incomes to make ends meet. When you divorce, your income is reduced to your income alone, which can mean big changes for your lifestyle. In addition to having your income reduced, your expenses also tend to increase.

It is not impossible to achieve financial security after your divorce, but it can be difficult without taking the proper steps. Here are five ways you can take care of your finances after your Illinois divorce:

1. Take Inventory of Your Finances

When you are married, your finances become intertwined. The first thing you should do after your divorce is to take an inventory of your assets, liabilities, income and expenses. This will help you know where you stand when you move on to step two.

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marriage-trendsIt is a fact, Millennials, or Generation Y as they are sometimes referred to, may not be classically feigning illness to escape marital duty or work but they are shying away from accepting the urgency for marrying. The hesitancy to say “I do” by this influential generation is producing the lowest rates of marital unions today. Marriage rates for those marrying before age 40 are expected to be the lowest percentage ever.

There are that more adults under the age of 35 will forever remain single. Pew’s data, derived both from the U.S. Census Bureau and in-house outreach surveys, reports that Millennials are opting to stay single longer and forgoing the traditional marriage vows. The current statistical data and societal indicators have been broken down by age group and represent the following.

Millennials Age 18 to 24

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