Dr. Judith Gerhart, CFP
Certified Divorce Financial Analyst 
Tips
« Previous ArticlesFight or Flight
Tuesday, August 18th, 2009
A marriage that isn’t working is dangerous. It profoundly threatens our happiness, our self-esteem and even our physical well being. Sometimes when things are rocky, enough love is present to put in the work and save the marriage. In other cases, a relationship has become far too toxic to try, or even want to make [...]
Dating Tips
Wednesday, July 29th, 2009
Even though your marriage did not work out, there are ways to improve the odds of finding a compatible companion. Many licensed marriage and family therapists say one key to finding a mate with whom you can build a strong and successful relationship is not feeling rushed to pair up by an artificial deadline.
1. Learn [...]
Divorce Budgeting Tip 8
Monday, July 27th, 2009
8. Have a backup plan.
Or worse, if you happen to lose your job in what is becoming a tough economy these days, make sure you have a plan. “If you find yourself in this position the first step is to sit down with a financial planner and put your numbers on paper.” said Kelly Campbell, [...]
Divorce Budgeting Tip 7
Sunday, July 26th, 2009
7. Consider your retirement.
If you’re a parent, you don’t think twice about putting your children first. But when it comes to your personal finances, it’s a good idea to think of your retirement before your child’s college costs. While a university can offer a student scholarships and financial aid, an Individual Retirement Account (IRA) or [...]
Divorce Budgeting Tip 6
Saturday, July 25th, 2009
6. Stockpile six months of savings.
Make sure you have about three to six months of living expenses in the bank. This will guarantee you can pay your way through the various financial obligations that will arise during this time. It’s also important that you insure yourself, said Cardi. “You may be losing health insurance benefits [...]
Divorce Budgeting Tip 5
Friday, July 24th, 2009
5. Reduce your debt.
You also need to stay on top of your credit in order to reduce debt. This means paying your monthly bills on time and in full. It could take you years and thousands of dollars in interest to pay off a single credit card if you pay the bare minimum. Already in [...]
Divorce Budgeting Tip 4
Thursday, July 23rd, 2009
4. Cut non-essential spending.
By tracking your spending, you’ll be able to calculate what you spend on essential items (rent, utilities, groceries, etc.), and you’ll most likely unearth your non-essential spending habits as well. This is where costs can be cut. A good way to minimize non-essential purchases is by paying in cash for these items; [...]
Divorce Budgeting Tip 3
Wednesday, July 22nd, 2009
3. Determine spending each month.
Once all of your financial documents are organized, it is much easier to evaluate your savings and spending habits. Find out what you’re spending your money on each month, each week and even daily. “Write down from your checkbook and credit card statements what you actually spend and not what you [...]
Divorce Budgeting Tip 2
Tuesday, July 21st, 2009
2. Organize important records.
Critical records like your will, birth certificate, passport, 401(k) statements and tax returns, should be stored in a safe and easily accessible spot, such as a safe. Keeping things neat and clean is crucial for divorcing couples. “Make copies of everything related to financial issues,” said Santa Monica, Calif.-based family law attorney [...]
Divorce Budgeting Tip 1
Monday, July 20th, 2009
1. Make order of the bills.
The first step to revising your budget is making some order out of the bills and bank statements that overflow from your desk drawer and spill off your nightstand. This means collecting, categorizing and creating folders for them. But not all papers in your piles are worth keeping. Decide what [...]
