Create a budget and stick to it. This may sound like simple advice, but it is very important. Start by tracking all income and expenses for a month, and eliminating unnecessary expenses. Be sure to structure your budget to include saving for future needs.
Live below your means. Going from a two income household to a single income is difficult enough, but learning to live on less money than you actually have can seem impossible. It may require a complete change in lifestyle and a realignment of priorities, but it is the only way to free yourself from the financial struggles of post-divorce living.
Eliminate debt and build savings. Make every effort to pay of existing debt and do not acquire additional debt. The best way to avoid going into future debt is by having a well-padded savings account. Plan on contributing a percentage of your income to a savings account every month.
Learning how to deal with your finances after a divorce will determine your success or failure in the long-term. It may be tough, but achieving financial independence will be worth the sacrifices you make along the way. Remember, if your circumstances change and you need to modify an existing order for child support or spousal maintenance, a Colorado Springs divorce attorney can help.