Kitsap Woman Gets Finances In Order After Divorce

Posted on May 15, 2010
The Money Makeover column in the April 10 edition of the Seattle Times dealt with a common problem for those going through a Washington State divorce: getting back on your feet after a financially stressful divorce.

The column focused on 30-year-old Kitsap resident Renee Hernandez, a woman who found herself in an utterly new and very depressing financial situation in the wake of her WA divorce. After her marriage, Hernandez found that she and her husband didn’t have much in common when it came to money matters – while Hernandez was a spendthrift, her husband led her into a more extravagant lifestyle that left her more than $300,000 in debt by the time her Washington divorce was finalized last year.

Although Hernandez struggled to keep up with her payments by starting a second job, taking on renters, and pinching pennies, she finally gave in and declared bankruptcy to rid herself of much of her old debt – and get a start on her new life.

Ken Smith, chief executive officer at Empirical Wealth Management in Seattle, helped Hernandez further by helping her make a plan to save for retirement, rebuild her credit, and pay off her student loans.

Hernandez learned, like so many others, that a marriage to someone with different financial values and philosophies can be difficult – and recovering from a divorce fraught with past money woes can be even tougher. However, smart money management and a new start can often help you get back on your feet and allow you to find the happiness and control that you were looking for.

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