Personal Finance (Not Investing) • Cash crunch due to divorce - best way to handle?

I am going through a divorce and am going to be in a pretty major (but thankfully, temporary) cash crunch until our house sells and the divorce is final. I'm going to have to pay for an apartment, likely half of our mortgage, divorce costs, potentially two sets of utilities, half of child-related expenses, moving and furnishing costs for new apartment, etc. AS a Boglehead, I'm keeping my expenses as low as humanly possible, but there will definitely be a deficit each month.

I had a quick call with my attorney today and she advised that I use credit cards in the interim, as I won't be able to touch assets upon my filing being accepted by the court...which should be next week. I already have a Wells Fargo active cash card with a $30K limit and 0% until April, but I'm not sure if that's going to be enough to sustain me. And even if it is, I'll likely be close to maxing it out which can't be good for my credit score.

Any advice from those who might be familiar with this sort of situation? Should I apply for another card with a 0% intro rate and hope for a high limit? Any specific recommendations?

I'll be completely fine once our house sells and the divorce is finalized, but I'm sort of panicking in the interim.

Thank you for your help!

Statistics: Posted by OatmealAddict — Fri Aug 30, 2024 1:12 pm — Replies 1 — Views 115

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