Receiving alimony payments from your former spouse can help you immensely as you try to get back on your feet as a single person. You need to make smart decisions with this money. It shouldn’t be used to simply throw around and enjoy a good time in Florida. You need to be very smart with the payments so they last until you are able to find employment.
Pay the rent or the mortgage when you receive these payments from your former spouse. This is especially important if you haven’t secured employment yet, or if you haven’t been able to move to a new job with higher pay. You need a place to live and if you can’t pay the rent or the mortgage, you will have quite the problem on your hands.
Keep your insurance policies active after divorce. Don’t go uninsured with dental, medical, renter’s or homeowners coverage. These are important policies that protect you and your children. Also make sure that your automotive policy is active.
Consider going back to school with the alimony payments to earn a degree or learn a new skill. This will be helpful in finding gainful employment that will lead to better income for you to support yourself.
If you don’t need the alimony payments to support yourself, you can use them to invest in your children. Put the payments into college funds for them so they have something to start with when they reach that age.
Did you know that alimony can be used to pay for just about anything? Even though this is the case, you need to make smart decisions about how you use the alimony payments sent to you each month since they won’t last forever.