Receiving spousal support payments comes with getting a divorce. There are times when the judge will rule that neither divorcing spouse has to make these payments. It’s a rare occurrence, but it does happen. So, what should you use spousal support payments for in Brookfield, Wisconsin? Let’s take a look at some smart uses for spousal support payments in today’s post.
Making sure that you and your children have a place to live should be number 1 on the list of smart uses for spousal support payments. Use the money to cover monthly rent or pay the mortgage, if you have one. This should be a priority above all else.
Following a divorce, you will likely be removed from your former spouse’s health insurance plan. This could leave you without health coverage, dental, vision and life insurance. You can use these monthly payments to purchase coverage of your own or for your children.
Do you have a hefty sum of debt to your name? If so, consider using some monthly spousal support you receive to pay down this debt. Whether it’s credit-card debt, student loans or an auto loan, spousal support can be used to get rid of your debt.
You could also use the spousal support payments to go back to school. Want to earn a degree, earn a higher degree or learn a new trade? If so, use these payments to cover tuition, books, supplies or any other equipment needed for your education.
The list of spousal support uses in today’s post is not exhaustive. You could probably think of various other uses for these payments that benefit not only you but also your children. Just make sure you have enough money left each month to pay the necessary expenses for your home and health.