4 financial changes to make when getting a divorce

Divorces can affect your income and the lifestyle you are able to afford, but there are some simple financial changes you can make to ease the yourself and your spouse through the divorce. Keeping your credit and your finances stable is a matter of making a plan, spending carefully and making lifestyle changes to cut costs.

You may have had multiple joint credit cards as a married couple, but an important step to take while you're getting a divorce is to make all of your finances separate, which means closing joint credit card accounts.

It is important to separate your credit accounts because of the full liability that you open yourself up to when your name is on an account.

Even if you did not charge anything on a joint account, you are still liable for all charges that your soon-to-be-ex spouse makes to the account.

You should also consider paying off loans that you took out together for similar reasons.

One of the biggest mistakes a person can make after getting divorced is failing to tailor your lifestyle to the amount of money you have access to after the divorce.

Take a good look at what your income is now that you are no longer married and create a strict budget that is based on your new income. Alter your lifestyle accordingly.

Then, if you want to have access to more money for a more comfortable lifestyle, try to find ways of supplementing your own income.

To gain financial independence after your divorce, you need to change the name and information on all of the accounts you have, particularly your checking and savings accounts.

If you changed your name when you were married, make sure you get a new driver's license, social security card and passport as well.

Once you have identification in your new name, go to your banks and make sure all of your accounts reflect the change.

While this is can be a tedious housekeeping step, it's essential for keeping all of your finances in order and safe.

Building good credit as an individual is essential. After a divorce, focus on building good credit in your own name. Building up your personal credit score will allow you to make big purchases on your own.

Get credit cards in your own name, then use them for small purchases and pay the balance regularly. Your credit score will improve, and many financial doors will open for you.

Remember these points if you're going through a divorce to help you maintain your financial and credit independence.