Divorce is a significant life event that can be emotionally and financially challenging. As you close one chapter and begin another, it’s essential to make informed financial decisions to secure your future. Here are seven smart money moves to help you navigate this transition and lay the foundation for a strong financial future.

1. Take Stock of Your Financial Situation

Begin by assessing where you stand financially. Create a detailed list of:

• Assets (e.g., property, savings, investments)
• Liabilities (e.g., mortgages, loans, credit card debt)
• Income sources (e.g., salary, alimony, child support).

This clarity will help you determine your financial priorities and create a realistic plan moving forward.

2. Set a New Budget

Divorce often brings a change in income and expenses. Adjust your budget to reflect your current circumstances.

• Identify necessary expenses like housing, utilities, and childcare.
• Cut back on discretionary spending where possible.
• Include savin...