Previously, we posted a blog with a brief description of domestic violence. This information is crucial in identifying and escaping an abusive relationship. But what happens when a victim manages to escape? How will the victim recover financially?  Recently, BankRate.com published an article with advice on what a victim should do financially to secure their future.

BankRate.com suggests:

  • Open new bank accounts
    • Open an account prior to escaping if possible
    • Open an account after escaping
  • Make a Budget
    • Come up with a plan, stick with it
    • Do not spend more money then what is being brought in
  • Start Building Credit
    • Apply for a low APR credit card
    • Apply for a secured credit card
  • Make Saving a Habit
    • Save a little bit of money from ever paycheck
    • Save for 3-6 months worth of essential expenses
  • Utilize Local Resources
    • Local Food Banks
    • Government Assistance
    • Domestic Abuse Coalitions
  • Get Back to Work
    • Entry level positions are just starting points
    • Master the side hustle such as online auction sites and ride share programs
  • NEVER GIVE UP

The full article can be read at https://www.bankrate.com/personal-finance/rebuild-finances-after-financial-abuse/ 

Here at the Office of Vincent J. Caputo, we are dedicated to our clients. We offer experienced legal counsel to South Eastern Pennsylvania. Your Future? Our Priority!