The challenging times we’re all experiencing means we’re getting a lot more calls than usual and our call times are longer. So we can support people in the most vulnerable situations, we ask that you only call us if your enquiry is urgent. You can still use our online and mobile banking services and our automated service.

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    Separation and divorce: planning for the future

    Following a separation or divorce, you may find your life and finances have completely changed. Now is the time to think about plans for the future.

    After a relationship ends, it’s likely your income, assets and debts will all have changed considerably, so it’s a good time to review your finances and plan for what comes next.

    Reassess your finances

    After a separation, you may find yourself managing your own finances for the first time in several years. If you don’t already have a budget plan in place, now is a good time to start. Review all your new monthly incomings and outgoings, including payments, expenses and any child maintenance.

    Also make sure you update any payments with your new circumstances. You might find your Council Tax payments reduce after your partner moves out, or that your energy bills go down.

    Communicating with your former partner

    Where it’s possible, constructive communication can continue to be helpful after separation. It’s possible you’ll need to make major decisions together in the future, for example selling large assets or financially supporting a child through university. Being able to talk to each other amicably now and in the future can save a lot of time and money. The more you can agree together, the less need there will be for solicitors to negotiate on your behalf.

    Your next steps

    Setting new goals

    When you are ready and feel you are in control of your financial life, think about what you want for your personal life. Perhaps there’s a career change you’d like to work towards, or you want to buy your own car, or take up a new interest? Include those ambitions in your budget plan and set goals to achieve them.

    If you want to get a better understanding of your financial situation, then you could benefit from a free personal financial review.

    Further help and support

    The Money Advice Service has a downloadable spreadsheet you can use to help understand your financial situation.

    If you’re worried about your finances, you can speak to the Citizens Advice Bureau for free advice.

    More on separation and divorce

    Practical next steps

    Further reading

    Important legal information

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