The first few months of separation are usually regarded as a period of turmoil. However, if one were to have a tight grip on the finances, the transition will not have a negative monetary effect. To keep a food financial health, the parties should:
1. Review insurance policies to ensure that the ex-partner is removed from the policies and the premiums are adjusted accordingly.
2. Keep an emergency fund of money on hand for unanticipated financial events such as children getting sick or car battery dying out.
3. Downsize your home and live well within your means.
4. Let go of any costly habits and luxuries that you can live without.
5. Sell possessions that are not needed such as expensive jewellery and car, especially if they are leased. However, obtain legal advise if those possessions are part of net family property.
6. Identify ways you can earn some extra money on the side. Living on one source of income may seem daunting at first. The best defence is offence. Combat debt by increasing sources of income.
http://divorcedmoms.com/articles/how-to-get-through-those-first-bumpy-financial-months-after-divorce