Divorce is one of life’s most emotionally taxing events – and one of the most financially destabilising. Yet, despite the major long-term impact it can have on income, housing, and retirement planning, very few women seek financial advice during the divorce process.
In fact, just 7% of women take professional financial advice while going through a divorce, according to recent research. This is especially concerning when you consider the financial outcomes: on average in 2024, women’s household incomes fall by 50% in the year following a divorce, compared to a 30% drop for men.
This financial gap is no accident – it reflects a broader imbalance in how financial roles and responsibilities are shared in many households, particularly when women take on the majority of caregiving duties or reduce their working hours for children.
“We often see women come to us after the divorce has already happened,” says Sally Mathews. “At that point, some of the biggest decisions – splitting assets, pension sharing, or property ownership – are already locked in. And often, they’re not in the woman’s favour.”
The true cost of going it alone
The introduction of no-fault divorces in the UK in 2022 was intended to simplify the legal process, and it has. But emotionally and financially, divorce remains as complex as ever.
Without support, many women navigate the process focusing on short-term emotional closure – rather than long-term financial security. It’s understandable, but risky. Failing to fully assess joint assets, account for pensions, or plan for future care costs can lead to financial insecurity that lasts decades.
Key financial pitfalls to watch out for
Some of the most common issues we see among women divorcing without advice include:
- Overlooking pension entitlements: Pensions are often one of the most valuable joint assets, yet are frequently left out of divorce settlements altogether.
- Underestimating future costs: From childcare to later-life care, women are more likely to shoulder these expenses post-divorce – yet rarely account for them in settlements.
- Not knowing their options: Many women simply don’t know what they’re entitled to, or what support is available to help them rebuild.
A new approach to financial independence
The good news? When women do get advice – and early – the outcomes are far better.
At Paradigm Norton, we’ve seen the power of helping women understand their full financial picture before, during, and after divorce. This includes everything from modelling post-divorce budgets to reviewing investment strategies, understanding mortgage options, and ensuring pensions aren’t left behind.
Financial planning in this context isn’t about technical charts – it’s about helping women feel confident making decisions that affect their lives and their futures.
“The goal is to give clients clarity and control,” says Sally. “That’s the foundation for independence – whether someone is starting over, retiring solo, or navigating a blended family.”
Final thought
Divorce will never be easy. But with the right financial support, it doesn’t have to mean long-term insecurity.
By normalising financial advice as part of the separation process – alongside legal and emotional support – we can help more women walk away not just free, but financially strong.
