Help me figure my savings strategy

yancey · Apprentice Joined: 24 Jul 2007 Posts: 9

I have just finished with my divorce and I spend most of my previous savings for that purposes. It was really hard not only financially but also emotionally. But now I have to sit down and figure out all the aspects of my new savings policy. I have to pay extra attention on my expanses since I have two teenagers to which I am obliged to pay child support expanses. Can you share a piece of advice? Thanks in advance.

danny · Apprentice Joined: 23 Sep 2004 Posts: 4

Yeah I know how difficult it can be after the divorce. I was also in the similar situation five years ago when I divorced from my second wife. As for your future saving strategy I recommend that it should be based only on your individual plans. That is, is should not include another marriage engagements. Furthermore, you should take into consideration your year income, your current debs, and mortgage payments. When you do all that it is vital to plan your childrens future. I suppose they still high school pupils since you said they are teenagers. The college matter would come along really fast. I can also recommend you sites on the Internet which are dealing with your saving strategy issues. One of them is www.stretcher.com. You can find plenty of valuable information there. Take care.

Help me figure my savings strategy

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