Divorce is not just an emotional journey – it is also a financial one. For many people considering separation, one of the biggest worries is: “Can I afford to do this?”
Whether you are only starting to think about divorce, or you are already preparing legal paperwork, taking practical steps to understand and organise your finances can make the process smoother and less overwhelming. It also helps you feel more confident about building a stable future after separation.
Step 1: Build a Clear Picture of Your Assets and Liabilities
The first step in financially preparing for divorce is knowing exactly where you stand.
- List your assets – property, savings, pensions, investments, vehicles and valuables.
- Record your debts – mortgages, loans, credit cards and other financial obligations.
- Understand joint accounts – if you and your spouse share bank accounts or credit facilities, make a note of balances and who controls them.
- Gather documentation – bank statements, mortgage details, pension statements and payslips. These will be needed later in the divorce process when completing an Affidavit of Means.
Even if divorce is not yet certain, having this information will give you clarity and reduce surprises later.
Step 2: Understand Your Affordability
It can be daunting to imagine living alone or running a household on a single income. Create a simple affordability plan by:
- Listing your monthly income (salary, benefits, allowances, rental income).
- Listing your monthly outgoings (rent/mortgage, utilities, childcare, loans, groceries, insurance).
- Calculating disposable income – what’s left after essentials.
If your income will not cover your expenses, you can start planning adjustments now – whether that means reducing spending, exploring new income opportunities, or considering maintenance entitlements.
Step 3: Get to Grips with Bills and Utilities
If your spouse has always managed household bills, it is time to get familiar with them:
- Utilities – gas, electricity, water, broadband, phone. Know the account details, suppliers, contract terms and costs.
- Insurance – health, life, home, car. Make sure you know what policies exist and who they cover.
- Direct debits and standing orders – identify what goes out each month and ensure important payments continue if accounts are split.
By gaining visibility over these everyday expenses, you avoid missed payments and give yourself control.
Step 4: Create a Realistic Budget
Budgeting is one of the most important tools during and after divorce as you adjust to major changes of household income.
- Prioritise essentials – housing, utilities, food, childcare.
- Cut back on non-essentials – subscriptions, memberships, luxury expenses.
- Build an emergency fund – even small savings each month can provide a safety net.
- Track your spending – use apps or spreadsheets to see where money is going.
Budgeting may feel restrictive at first, but it gives peace of mind and helps you make informed choices. The earlier you start the better.
Step 5: Learn About Maintenance Entitlements
In Ireland, the courts can order maintenance payments after separation or divorce. These may cover:
- Spousal maintenance – financial support for a spouse who does not have sufficient income.
- Child maintenance – contributions towards children’s living costs, schooling, and activities.
The amount depends on income, needs, and the family’s overall circumstances. Understanding what you may be entitled to (or expected to pay) helps you plan realistically. A family law solicitor can advise you on likely outcomes.
Step 6: Boost Your Credit Score
Your credit history will affect your ability to rent, take out a mortgage, or obtain loans in the future. If you are not aware of your credit score there are various free tools you can use to check your score, such as Central Credit Register or ClearScore. To strengthen it:
- Pay bills on time – even small payments affect your score.
- Keep credit use sensible – avoid maxing out cards.
- Check your credit report – request a copy from the Irish Credit Bureau or Central Credit Register.
- Open accounts in your own name – build independent credit history if everything is currently joint.
Taking these steps now helps you prepare for financial independence.
Step 7: What If You’re in the Dark About Finances?
For some people, financial preparation feels impossible because their partner has always controlled the money. If this is your situation:
- Start small – gather whatever documents you can (payslips, bills, bank letters).
- Open your own bank account – even if you don’t plan to separate immediately, this creates security.
- Ask questions – don’t be afraid to request information about household finances.
- Seek advice early – a solicitor can help you obtain financial disclosure during the divorce process. Try to speak to financial advisor, bank manager or the citizens information centre for further help with finances.
Remember: you are entitled to a fair financial settlement, even if you don’t currently know all the details of your marital finances.
Need a Discreet Family Solicitor Appointment?
If you want to seek legal advice but are worried about your partner finding out – for example, if they control the household finances or you only have a joint bank account – there are discreet steps you can take. Consider setting up a new email address or changing your password so you can communicate privately with a solicitor. You may also want to start setting aside small amounts of money, either by withdrawing cash gradually, using cashback at the supermarket, or selling unwanted items online. Some people borrow from a trusted friend or relative, or free up extra funds by cancelling unused subscriptions. It is also worth checking whether you have any accounts or savings in your own name that you may have overlooked. Taking these small, careful steps can help you prepare safely and independently for seeking professional advice.
Taking Control of Your Financial Future
Divorce can be financially challenging, but preparation makes all the difference. By building a clear picture of your money, budgeting carefully, and seeking early legal advice, you can protect your interests and set yourself up for a more secure future.
At Dillon Solicitors, our family law team works closely with clients to guide them through both the legal and financial aspects of separation. We know that taking the first step is often the hardest, but with the right support, you can move forward with clarity and confidence.
Contact Dillon Solicitors today for a confidential initial appointment with our Family Law team. We are here to listen, advise and support you through every stage of your divorce journey.
