Divorced Mothers Overcoming the Challenges

For Rhode Island divorced mothers it is always an ugly thing especially when you do not have enough money to keep your kids comfortable.

The first few months after the divorce is usually one of the worst times you will ever have in your life.

According to studies, many Rhode Island divorced mothers often go through very difficult times after the divorce partly because they now have to take care of the kids on their own and partly because some husbands often do not give enough child support.

Most Rhode Island divorced mothers find it hard to find a good job after the divorce.

According to studies, a lot of women leave the workforce once they have children.

Most Rhode Island divorced mothers have been away from the workplace for so long that it is often difficult for them to land a good job when they do decide to go back into the work force.

If Rhode Island divorced mothers cannot find a good job and their spouses are reluctant to pay child support, money will always be scarce and hard to come by.

Balancing YOUR Finances

Should you be one of those Rhode Island divorced mothers who are having some financial difficulties, it is best for you to perform an audit of your finances,

You’ll need to make an assessment of how much money you actually have and how much you will need to keep your family comfortable.

To make a financial assessment, you need to create a simple cash flow by adding up all your income and compare your income with your expenses.

When computing your income for the month, add all the income you earn at work, the child support, alimony and others.

The next step is to add up all your expenses.

Start by collecting all your bills for the month, your credit card statements and whatever receipts you have accumulated.

If you have not really been keeping track of your spending before, now is the right time to start keeping tabs of everything.

Once you have recorded all you income and expenses, compare you data, and pay close attention to the excess and deficits.

You’re out of luck if your income is slightly higher than your expenses.

On the other hand, if your income is way below your expenditures, you better do something quick to keep bankruptcy out of the door.

Also if your spending habits are bigger than your income, it will be time for you to cut back on something.

You can evaluate all your expenses and note which ones you can afford and which ones you can live without.