Whether friendly or tense, a divorce can wreak havoc on your entire well-being. By the end, you may find yourself emotionally, physically, mentally and financially drained. As you face the tasks of putting your life back together, the last thing you need is to discover that you did not prepare yourself financially. If you want a secure, stable financial future, the time to start planning is before or during the divorce.

1. Check your credit

A good credit score is the best way for you to secure any type of loan you may need in the future. If it is not accurate, you may have problems borrowing money for a new home or car, or even opening a credit card. Obtain a copy of your credit report and check for any joint debts, as well as how much you owe on those debts. If you miss your chance to close joint accounts, and your ex-spouse goes on a spending spree, you could find yourself with a tanked credit score.

2. Create a budget

Regardless of how much money you make, you are now going to be living on one income rather than two. Creating a budget is vital to ensuring that you have the money you need to get by on your own after the divorce. Keep an accurate list of what you need to live each month, including housing, transportation, food and childcare if you are the custodial parent.

3. Request life insurance

Life insurance is intended to protect the family after a family member dies, and just because you are divorced, it does not mean you should give that up. If anything were to happen to your ex-spouse after the divorce, you may miss out on extra retirement funds, child support and the payoff of certain debts. Having a life insurance policy in place will protect you no matter what your relationship status is.

4. Know your assets

Once things go south in your marriage, you cannot be too careful when it comes to your finances. Once divorce is on the table, you should be collecting financial statements and lists of all your assets, including real estate, personal property, liquid assets, retirement assets, cash value life insurance and any business interests you have together.

5. Speak to an attorney

Ending your marriage is emotional enough, and it is easy to be manipulated by someone you feel you should trust. If you are facing divorce and concerned about your financial future, seek the representation of an attorney today.