7 Money Tips for Couples During Break-up or Divorce


When you’re navigating the emotional upset of a relationship break-up, it can be hard to find the headspace to deal with money too.

But after a survey revealed half a million people are plunged into financial trouble every year following a break-up, it seems tackling money should be top of everyone’s priorities during this time.

The survey by credit report provider Noddle found women were more likely to be owed money, left to pay rent or a mortgage alone, or see their credit score suffer. Meanwhile, men faced bleaker long-term prospects after a break-up having less support from friends and family, and struggling to recover financially.
In light of these findings, we asked finance and relationship experts about the best ways for couples to navigate money after a break-up.

Make a list of everything you own

Jacqueline Dewey, managing director of Noddle, recommends making a list of everything you own (all your possessions, big and small) so that you can decide in a fair manner how to split your assets.

This can be based on actual value or sentimental value, “but should be equal and agreed upon”.

Divide your finances

Dewey also advises couples to think about how they want to split joint bank accounts, divide up savings, and remove a name from insurance policies and household bills.

“Make a list of all bills you pay jointly and separately and go through each one to assign responsibility,” she says.

Sort your debts

This is where things can become tricky, according to Dewey. Whether you are married or not, you are only responsible for debts in your own name, even if you have benefitted from the money.

Debts can be a tricky area however and this may be where you need to seek legal advice or speak to a mediator. Relationships psychologist, author and Relate ambassador Anjula Mutanda recommends seeking help from debt charity StepChange or speaking to the Citizens Advice Bureau if you’re unsure where to begin.

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