Women should take charge of their post-divorce finances

Rhode Island women who are considering divorce may be thinking about how their finances will be affected in the future. Due to realities such as the pay gap and gender roles, women often have a harder time than men becoming financially stable after their marriage ends.

The median income for women is about 82 percent that of men. Depending on the race or profession of the woman, the discrepancy in wages can be even bigger. This means that after a divorce, it is more likely that a woman has a lower income than an ex-spouse who is a man. A person's life is rearranged, and transitioning from a double-income lifestyle to a single-income lifestyle can be more challenging for women than it is for men due to the wage gap.

Gender roles, like the wage gap, can also create financial discrepancies that can make divorce a more difficult financial struggle for women. In a household that holds tight to traditional gender roles that put the financial responsibility on men, it can be difficult for women who are just starting their careers after a divorce to manage their finances if they have little to no experience with keeping their personal finances in order. Financial aadvisers recommend that the best way for women to mitigate these possible setbacks is to take control of their finances immediately, watch them closely and make a new financial plan that reflects life after the divorce.

Divorced spouses who are unsure if spousal payments or child support payments will be enough to take care of their household might choose to speak with a lawyer. Counsel give clients legal advice about how to petition for a change in these amounts should that become necessary.

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Nicholas J. Hemond Attorney at Law
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