Taking control of your finances after a divorce or separation is an empowering moment, and a big step toward independence. Here's how to get started.

Open your own accounts

Now that your divorce or separation is underway and shared accounts are being closed, opening your own account(s) is a great place to begin.

Think about the accounts you might need. If you have kids, it could be useful to open a separate account for child support payments. An interest earning savings account on the other hand may assist you to save. View our range of everyday banking accounts to see what can work for you.

Set up a new budget

Moving to a single-income is an ideal time to review how much you’re spending. Use our budget planner tool to create a workable budget that reflects your current income and household. Not only practical, it’s a great way to feel in control again.

Know your rights

Separation is never black and white - and you'll have different rights depending on whether you were married or in a de facto relationship.

Find out what you have a right to - and how to protect it - in our guide on dividing up joint assets.

Take control of debt

It’s best to stay on top of mortgage and credit card payments from the start - so balancing your cash flow is critical.

Most people are managing some form of debt at any given time. The trick is to always know what you owe, and the conditions of your repayments. For more practical help on this, see Managing your debts.

Manage your property

Whether you're renting, own your own home, or own several houses, there's a good chance that managing your properties could become more complicated after separation.

While you find your feet, a good place to start is to speak with a financial expert. They can review your budget and help decide the best path for you. Remember, a property should always be seen as a promising investment, not a drain on your finances.

Plan for a financially safe future

Have you thought about your retirement yet? A financial expert can help you understand how long you should be working for, how much to save, and even the best time to sell your property.

It may also be a good idea to check up on your super. If you have multiple accounts, think about combining them into one to save on fees, and look into ways you can grow your super balance.

Learning these skills will have you well on your way to financial independence. If you're still feeling unsure about certain financial responsibilities, get some tips on most things to do with your money using our online help and guidance resources.


Financial literacy

Financial literacy is the education and understanding of various financial areas, including your own personal finance.

Interest rate

An interest rate is the percentage of credit—like a loan or deposit—that's charged as interest to the borrower by the lender (usually a bank).


Super is a regular payment made into a super fund by an employee towards a future pension. For most people, your employer must pay an amount equal to 9.5% of your salary into your super fund account. Your super savings can be self-managed, or controlled by the superannuation fund of your choice.


The act of paying back a loan to the lender. This can be as a whole, or periodic instalments.


An amount of money spent or an outgoing cost (e.g. such as rent, bills, food, and petrol).

Important information

The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it’s appropriate for your circumstances. NAB recommends you seek independent legal, financial, and taxation advice before acting on any information in this article.

After more information?Other related articles

Your key financial to-dos after divorce or separation

We've put this step-by-step guide together in order to help you get back on your financial feet after a divorce or separation.

Sorting out your finances: how to divide shared assets

Dividing up the assets you share with a partner can be an emotional process. Understanding how the process works will help make it easier to reach a peaceful settlement. Here are some helpful tips.

Your support network following divorce or separation

Separating from your partner comes with a few challenges—but you're not alone. Here are the services that you can turn to for help.

After more information?Related products and services

Helping you with financial hardship

We understand that life can take unexpected turns and leave you in a vulnerable financial position. If you're finding your loan or credit card repayments difficult to make, we may be able to offer assistance when you need it most.

Transaction accounts

Access your money with our everyday banking accounts when you want it, wherever you happen to be.


Thinking about your future? MLC, our wealth management division, has a comprehensive range of superannuation solutions.

Financial advice

A NAB Financial Planner specialist can help you with financial planning, financial advice or strategies. Request a complimentary Financial Adviser consultation near you.

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