- Financial literacy after divorce
- Apps to fast-forward your financial literacy
- Online courses about finance
If you’re navigating the divorce process, you may already have been confronted with some new financial realities. How will the income that supported one household now support two? How will you manage your debt while saving and investing for your and your family’s future?
You may have handled your marital financial decisions as a couple, but now, you must take sole financial responsibility for your single life. You may have left all the financial details to your ex-spouse and now need a crash course in Post-Divorce Finance 101. Whatever the case, your financial life from here forward is yours and yours alone. Time to get up to speed on your financial literacy.
Financial literacy after divorce
What is financial literacy? It’s a toolkit of financial knowledge and skills that allow you to make informed decisions about your future financial life so you can strive for your financial goals with confidence.
As a newly single individual, you will need to understand your assets, liabilities, and net worth. You will need to maintain a budget that upholds your living expenses while managing your debt. You must understand how to invest and save for the future, and you must have a firm grasp on the tax implications of all of this. Your wealth management is your job alone.
You may feel overwhelmed at first. If so, take a moment to relax and focus on yourself. Your breathing. Your soul. Then, with the understanding that your financial needs and health matter greatly, take a dive into the world of online financial literacy courses.
You may not have the time or money to devote to a lengthy course on finances, but there are plenty of resources online specifically designed for people who need practical solutions for their financial life.
Apps to fast-forward your financial literacy
The Motley Fool, one of the internet’s earliest places for investing and financial advice, has put out a list of this year’s best financial literacy apps that are either free or have a nominal cost:
World of Money
This app teaches financial concepts easily and concisely, with video lessons on everything from the basics of spending and saving to investing.
Zogo
This financial education app makes learning about finance fun. It has partnered with financial institutions to reward learners with gift cards to motivate and keep it entertaining.
Investment
This app takes the complicated world of investing and explains it in easy-to-understand, jargon-free language.
Savings Spree
This award-winning financial app makes learning about household finances a game. If you want to involve the whole family, consider this one.
Online courses about finance
If you prefer more traditional online courses to help you understand your new financial life, there are several free or low-cost online resources for you to check out.
Udemy’s Personal Finance 101: Everything You Need to Know
This three-hour class requires no prior knowledge of finances. In it, you touch on a broad variety of financial topics through a series of engaging animated videos. The course is free unless you want a course certificate.
Skillshare’s My Financial Mountain: Understanding Your Path to a Solid Financial Foundation
While not a deep dive into finance, this is a good introductory video to key financial concepts. Although Skillshare is a subscription-based learning community, you can sign up for a free trial.
Introduction to Managing Your Personal Finance Debts
So much of personal finance is about managing debt. Alison (Advanced Learning Interactive Systems Online) offers valuable insight into debt management and prioritizing debt payoff. Alison also offers other free courses focusing on improving your financial situation through wealth building and retirement planning.
Coursera
Coursera is a well-known educational platform offering a variety of financial courses from financial professionals at some of the country’s top companies and universities.
Woman’s Guide to Financial Independence After Divorce
If you are looking for a more fine-tuned financial course specifically addressing post-divorce financial issues, look no further than The Options Lady’s Woman’s Guide to Financial Independence After Divorce. This comprehensive course, taught by a financial advisor and certified divorce financial analyst, takes a focused approach to finances post-divorce.
Enhancing your financial literacy through online coursework can help you feel empowered about your financial future and give you some of the tools you’ll need to care for yourself and your family.
You may decide you want more focused help with your specific financial picture as well. If so, consider getting advice and guidance from a certified divorce financial analyst, or CDFA. At Hello Divorce, we offer professional CDFA services and other essential resources to help you navigate your divorce proceedings and beyond. Let us help make your divorce and post-divorce life as smooth as possible.
What's after divorce?
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Suggested reading:
- How a Divorce Financial Planner Can Help
- Alimony Rules: Guide to Spousal Support
- Free Download: Hello Divorce Planning Guide
