Five practical money tips after divorce

Divorce changes more than just your relationship status; it can reshape your finances, your daily routine, and the future you had in mind. While it’s natural to focus on the practical side, your emotional well-being is just as important. In fact, the two are more closely linked than many people realise. In a recent episode of The Divorce Podcast by amicable, host Kate Daly spoke with Senior Paraplanner Ben Atherton to talk through five essential money tips for navigating life after separation.

1. Give yourself permission to grieve

Ben’s first point is simple, but important: before you dive into financial decisions, give yourself time to adjust.

“Divorce can feel like a loss,” he says. “You’ve not only lost a relationship — you’ve lost a version of your future.”

When you’re mentally and emotionally exhausted, it’s harder to make good decisions. Whether it’s time off work, speaking to a therapist, or simply going for a daily walk, make space to look after yourself first. You’ll feel more confident tackling the next steps.

2. Reset your money mindset

Post-divorce, your financial situation will likely look very different. So your mindset needs to shift, too.

Ben recommends starting with one clear, achievable goal:

“Maybe it’s clearing a small debt or saving your first £500. Just one quick win can build the momentum you need.”

Whether you were the “money person” in your relationship or not, now’s the time to get comfortable with your finances.

3. Get to grips with child maintenance

If you’re co-parenting, child maintenance is often an important consideration. You can use the government calculator for a baseline, but keep in mind that’s just a starting point. Children often come with extra costs, and it helps to be prepared. amicable offers a Separating with Children Service, where parents can get expert support from a Co-parenting Specialist, who can help them navigate child maintenance.

Ben advises getting any agreements in writing and using a tool like the amicable co-parenting app to track payments. It keeps things organised and reduces conflict.

Also, check your eligibility for financial support. Single-person council tax discount, child benefit, and other benefits can make a meaningful difference.

4. Update your will and pension beneficiaries

A divorce doesn’t automatically update your legal documents. That means your ex could still be listed as a beneficiary unless you change it.

Review your pension, life insurance, and will as soon as you can. It may not feel urgent, but it’s one of the most overlooked risks after a separation.

Services like Octopus Legacy can help, and amicable customers can access a discount.

5. Plan for your financial future

Once things feel more settled, it’s time to think ahead. Ben’s first suggestion is to build an emergency fund.

“Aim for three to six months of expenses. It gives you breathing space and helps shift your mindset out of scarcity.” Then start mapping out your bigger picture — retirement, home ownership, investing, or whatever your goals may be. Divorce is the end of one chapter, but it’s also the start of a new one. Creating a financial plan helps you take back control and move forward with purpose.

You don’t have to figure everything out on your own. If you’re going through a divorce, Octopus Money offers clear, friendly financial guidance to help you navigate the change. Whether you’re rebuilding from a separation or reimagining your future, speaking to a financial expert like Ben can help you feel more in control and confident about what comes next.

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What to Do Next

Divorce can feel like starting from scratch. But with the right tools and support, you can rebuild — one decision at a time.

Here are a few practical steps to take next:

• Talk to an expert about your finances — Talk to a financial expert. Octopus Money can help you navigate your finances after divorce with clarity and confidence. Book a session to build a plan that works for you.
• Check what support you’re eligible for — from child benefit to council tax discounts and other entitlements.
• Update your will with a trusted service like Octopus Legacy — amicable customers receive an exclusive discount.
• Listen to the full episode of The Divorce Podcast to hear more insights and advice.