Texas parents going through divorce have a great many things to consider as they prepare for that process. Child support is one of the most important, as that financial assistance will help shape the custodial parent’s budgeting for the months and years to come. Knowing what to expect is critical, and a family law attorney can provide a good estimate based on the family’s finances. However, it isn’t always possible to predict when those payments will start coming in.
Securing a new credit card is one way to protect against unanticipated delays in child support, alimony or even property division outcomes. Preparing for life after divorce sometimes includes securing new housing arrangements, insurance and child care coverage. It is virtually impossible to fully predict how these expenses will be shaped. A credit card can help cover unexpected costs as the divorce moves forward.
It’s important to note that, without proper management, a new credit card could actually bring more harm than good. Any new lines of credit should be handled very carefully, and efforts should be made to keep the balance below the maximum and make all payments in a timely manner. If these guidelines are not followed, a new credit card can end up harming one’s credit score and future credit options.
The best way to plan for the future is to work with a skilled divorce attorney to create an anticipated post-divorce budget. Knowing how much to expect in terms of child support, alimony and property division can make it easier to plot out future spending and saving. That can help many Texas parents feel more at ease as they move forward with their divorce.