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How can alimony affect post-divorce finances?

Our readers in North Carolina who are familiar with previous posts here know that alimony can play a significant role in any given divorce case. A request for alimony, especially if it was not expected, can put a halt to all other progress in a divorce case because it can lead to one spouse still being tied to the other even after the divorce is finalized. That, as a result, can trigger some emotional reactions. Although that is the case during the pending divorce litigation, how can alimony affect post-divorce finances?

A recent news article noted that alimony is just one of the potentially significant ramifications for a person’s finances in post-divorce life. But, alimony needs to be accounted for nonetheless. As people prepare for the reality of post-divorce expenses — now with a single-income household, which is a change — they need to understand how to factor in alimony, either as an expense or a source of funds.

For most people in post-divorce life, their financial situation is tight, at least to start out. It can be a significant switch-up to learn to live on your own income, as opposed to the combined income of a marriage. For those who receive alimony payments, those payments may help them maintain their standard of living, to some extent. And, that is exactly what alimony is intended for.

For those who must make alimony payments, it is important to make sure those payments are made on time, while also keeping an eye on how long that financial obligation will be a part of the household budget. Post-divorce life comes with many sources of stress, but financial worries may top them all. North Carolina residents need to understand the ins and outs of alimony to make sure they have the right options to consider.