Starting Over: A Practical Guide to Financial Planning After Divorce

Course outline

A clear route from first principles to practical confidence

1. 01

   Module 1: Taking Stock – Your New Financial Picture

   • Gathering your financial documents: what you need and where to find it
   • Listing your assets: property, savings, investments, and pensions
   • Understanding your debts: mortgages, loans, credit cards, and joint liabilities
   • Calculating your new income: salary, maintenance, benefits, and child support
   • Creating a simple net worth statement
2. 02

   Module 2: Budgeting for One – Building a Realistic Spending Plan

   • Tracking your current spending for one month
   • Categorising expenses: fixed, variable, and discretionary
   • Setting a realistic budget for housing, utilities, food, and transport
   • Planning for one-off costs: legal fees, moving expenses, and new household items
   • Using a budgeting tool or spreadsheet to stay on track
3. 03

   Module 3: Managing Your Income and Benefits

   • Understanding your payslip and tax code after a change in circumstances
   • Claiming child benefit, universal credit, and other state support
   • How maintenance payments affect your tax and benefits
   • Dealing with irregular income: self-employment or part-time work
   • When to notify HMRC and other agencies about your divorce
4. 04

   Module 4: Housing Decisions – Rent, Buy, or Stay Put

   • Assessing your housing needs: space, location, and affordability
   • Options for the family home: selling, transferring, or co-ownership
   • Renting: deposits, references, and understanding tenancy agreements
   • Buying a new home: mortgage options, deposits, and legal costs
   • Budgeting for moving costs and new household essentials
5. 05

   Module 5: Dealing with Debt After Divorce

   • Identifying which debts are yours, joint, or your ex-partner's
   • Contacting creditors and updating account details
   • Prioritising debts: high-interest, secured, and priority bills
   • Options for managing debt: payment plans, debt consolidation, and advice services
   • Protecting your credit score and rebuilding it over time
6. 06

   Module 6: Pensions and Retirement Planning

   • Gathering pension information: state, workplace, and personal pensions
   • How pensions are treated in divorce: sharing, offsetting, or attachment orders
   • Checking your state pension forecast and filling gaps
   • Starting or restarting a workplace or personal pension
   • Setting a retirement savings goal based on your new circumstances
7. 07

   Module 7: Insurance and Protection – What You Need Now

   • Life insurance: changing beneficiaries and reviewing cover levels
   • Critical illness and income protection: do you need it?
   • Home and contents insurance: updating policies after a move
   • Car insurance: notifying changes and avoiding penalties
   • Health insurance and private medical cover options
8. 08

   Module 8: Saving and Investing for Your Future

   • Building an emergency fund: how much and where to keep it
   • Short-term savings goals: holidays, courses, or home improvements
   • Introduction to investing: ISAs, funds, and shares for beginners
   • Understanding risk and your own attitude to it
   • Getting started with a low-cost investment platform
9. 09

   Module 9: Tax Essentials for Your New Life

   • Your personal allowance and tax bands after divorce
   • Capital gains tax: selling the family home or other assets
   • Inheritance tax: updating your will and considering gifts
   • Marriage allowance and other lost tax breaks
   • Keeping records and filing your self-assessment return
10. 10

    Module 10: Making a Will and Planning Your Estate

    • Why you need a will after divorce
    • Choosing executors and guardians for children
    • What happens if you die without a will (intestacy)
    • Setting up a lasting power of attorney for finances
    • Reviewing beneficiaries on pensions and life policies
11. 11

    Module 11: Talking to Professionals – When and How to Get Help

    • When to see a financial adviser: one-off advice or ongoing support
    • Finding a solicitor for financial matters after divorce
    • Using a mediator or accountant for complex finances
    • Free and low-cost advice services: Citizens Advice, MoneyHelper, and more
    • Questions to ask before hiring any professional
12. 12

    Module 12: Moving Forward – Your Financial Action Plan

    • Reviewing your progress: what you've learned and achieved
    • Setting your top three financial priorities for the year ahead
    • Building a monthly financial review habit
    • Planning for major life events: new job, moving, or remarrying
    • Staying motivated and knowing where to find ongoing support