Category: Finances
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Understanding your Financial Situation is Critical in Case of Divorce (Pt 2)
Hey there, welcome back to this discussion about family finances, and why it’s so important for both spouses to be aware of what’s going on with the money side of things. As we mentioned in the previous article, it’s really important that both spouses have a handle on the family’s money situation. Again, this isn’t…
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Understanding your Financial Situation is Critical in Case of Divorce (Pt 1)
Most Michigan families have one spouse who deals with the family’s financial situation and one spouse who doesn’t. It’s pretty standard for most couples to have one person in charge of keeping track of the budget and paying the bills, while the other spouse relies on them to provide information about savings, budgetary changes, and…
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How Child Support is Figured Out in Michigan (Pt 2)
Welcome back and thanks for joining us. We’ve been looking at the subject of child support and how it’s figured out in Michigan. In the previous article, we broke down the three most commonly used models for figuring out child support in the US (which includes the Income Shares Model used here in Michigan). However,…
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How Child Support is Figured Out in Michigan (Pt 1)
Child support is somewhat of a mystery to many people. How they figure out what you owe, how often you have to pay, why you end up with the amount that you get stuck with. Each case is a little different, and there are a number of factors involved in each scenario. So let’s take…
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Will They Take Money Out of my Paycheck if I Don’t Pay Child Support?
If you’ve been ordered by the court to pay child support, then you need to understand that it’s not optional – it’s a court order. This isn’t a judge telling you it would be nice to help out your ex, or that supporting your kids would be the right thing to do. This is a…
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Tips For The Newly Single: How to Live on One Income After Divorce (Pt 2)
Welcome back and thanks for joining us. We’ve been talking about the issues people face (from a financial angel) after the divorce, and the best advice we can give you to avoid that is this: don’t wait until after the divorce before you start preparing for it. Don’t wait until you’re officially divorced to create…
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Tips For The Newly Single: How to Live on One Income After Divorce (Pt 1)
Divorce can be a very hard time for families. However, while it’s already difficult from an emotional and mental standpoint, there are also financial ramifications to consider. As we mentioned in the previous article, going from a dual-income family to being a single earner can be very challenging. This is even harder for women who…
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New Study Proves Child Support Rates Are Very Inconsistent! (Pt 2)
Hi there and welcome back. We’ve been looking at an amazing study conducted recently by Custody X Change, a software used to develop custody agreements and help parents track parenting schedules. As we mentioned in the previous article, the researchers created a fictional family and entered their data (which represented a financial average for the nation)…
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New Study Proves Child Support Rates Are Very Inconsistent! (Pt 1)
Many things differ from state to state. And we’re not just talking about differences in weather from one place to another, or differences in the terrain and geography of the area. For example, the most well loved dish is Delaware is Scrapple, whereas in Hawaii it’s Poke. And while Colorado has the lowest obesity rate…
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Do I Still Have to Pay Child Support if my Kids Stay With me For The Summer? (Pt 2)
Hey there, and welcome back. We’ve been talking about a subject that hits hard for many parents during the summer season – the issue of taking on additional expenses because you’re now spending more time with your kids, but not being able to make smaller child support payments. As we mentioned in the previous article,…