Taking control of your finances before a divorce is essential. The earlier you start, the better. Here are 5 crucial steps to create stability and protect your financial well-being.

1. Create Some Financial Distance

Separate your finances. Establish some independence to prepare for possible changes ahead.

• Open a new bank account in your name
• Set up direct deposit for any income you receive, like your paycheck, into this
• Stop automatic payments for personal expenses tied to joint
• Consider opening a credit card in your name only if you don’t already have Having a card in your own name helps build individual credit and provides a backup option if joint accounts are frozen or funds become restricted.

Having a separate account and credit card gives you access to funds and establishes financial independence.

2. Secure Your Online Account Passwords

If you share accounts online, make sure they’re protected. Take steps to safeguard your privacy.

• Change passwords on all personal accounts, including bank, credit card, email, and social
• Enable two-factor authentication for an extra layer of
• Create unique passwords for each account and avoid reusing

Shared passwords can mean shared access. Changing them ensures your privacy and prevents unauthorized access to sensitive accounts.

3. Accumulate Cash and Understand Why

Having cash available is crucial. Unexpected expenses can arise, and access to funds can become limited during divorce proceedings.

• Aim to save at least three to six months’ worth of expenses if
• This cash reserve can cover legal fees, housing costs, and emergencies.
• If you don’t have much cash saved, start small and build

This safety net can reduce stress, giving you a financial cushion as you transition to new financial arrangements.

4. Check and Lock Your Credit – Here’s Why

Protecting your credit is a critical move. Divorce can sometimes lead to unauthorized spending or unexpected credit activity.

• Get a copy of your credit report from sites like com to review for accuracy.
• Freeze your credit with major bureaus (Experian, Equifax, TransUnion) to prevent new accounts from being opened in your name without your consent.

A credit freeze is free and doesn’t affect your score. It’s a simple but effective way to secure your financial future.

5. Set Up Mail Forwarding or USPS Scanning

Redirecting your mail is important. Sensitive documents and bills might still be arriving at a shared address, so make sure you control your incoming mail.

• Set up a forwarding address with USPS to ensure all important mail goes directly to
• Alternatively, sign up for USPS Informed Delivery. This service emails you scans all of your incoming mail so you know what’s coming each day.

Controlling your mail helps you stay on top of bills, bank statements, and other important documents that could get lost or delayed.

Starting your divorce with these steps provides peace of mind. Taking action now means you’ll have more control and clarity as you move forward.

Ready to take control?

Opinions expressed in the attached article are those of the author and are not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice. While we are familiar with the tax provisions of the issue presented here in, as financial advisors of RJFS, we are not qualified to render advice on tax or legal matters you should discuss tax or legal matters with the appropriate professionals.