Divorced in Retirement? 20 Ways to Maintain Your Financial Independence

4. Make a Budget

Once you have the lay of the land financially, draft a simple budget with an easy-to-use template. A budget will itemize where your money is coming in and where it’s going out. Doing this is crucial if you’re trying to maintain financial independence. A good budget outlines in black and white just where you might need to trim your spending. If you’re running a surplus, which is a great thing, a budget will show how much you can allocate to your savings.