Based on a study, nearly 45% of marriages end in divorce. This situation is caused by unhealthy relationship cases and of course requires additional costs for couples who separate. First, court costs, but also all costs associated with physical separation ... If you are one of those who are divorced, how do you recover your financial condition that has deteriorated as a result of divorce?
Make your financial inventory
Your finances may not be too severe, but alone, and with more costs, the situation can be very different, especially if you are not working, or only part time. You may receive child support, but payments are not always direct and not enough.
You must adopt your other financial management. This may seem daunting at first, but it is important to record all your expenses. Sometimes, we forget to calculate our expenses until it's time for us to be surprised when we read the bill. The most common cause of financial destruction is the inability to control lust (to buy something). If you are one of those who cannot control themselves to buy things that don't really matter, you might be able to "lock yourself up" inside the house. This may sound extreme but it can prevent you from new difficulties in the future. By controlling your consumptive behavior, you can also avoid yourself from unnecessary debts.
Differentiate between fixed costs: food, rent, telephone, insurance, travel costs, loans if you have them ... and your variable costs: hobbies, buying clothes or school supplies, food in restaurants ... What you really can't do without it , and what can be set aside for a while? We only pay attention to what we know and love, and the more we know certain things, the more we pay attention to them. This is a wise circle that also applies to money. Instead of emphasizing the idea of consulting your account online, monitor their evolution regularly.
Pay attention to your account, regularly, not once a month, but 2 to 3 times a week, whether on your computer, tablet or cellphone. Most banks now have a mobile application, which allows you to view your account very easily. You can also record on your computer, your cellphone or even a special notebook, what you spend every day.
Act to adapt to your new financial situation
This new situation, you don't always want it, but it's there. It's about adapting to it as well as possible. By looking after your money, you will see more precisely how you spend it. You might even have a good surprise by finding improvement points: insurance, cheaper phone packages, other shops with less temptation to shop near your new home ...
Everyone behaves differently: some are really wasteful and spend everything they can and others save cents and are almost fed up with spending their money. Whatever your profile, there are lots of tips to save less, by reducing consumption, for example: buying used clothes, making home care products or if you can, using public transportation or bicycles instead of cars. This is good for your wallet and also for the planet!
The transition you face after a divorce may be quite difficult to go through. But you can reduce stress due to this transition by doing meditation. But contrary to what you might think, you are not completely helpless. Legal assistance, depending on income, can be provided to pay court costs. The law also allows you to receive child support for the education and care of children that you have with your ex-spouse. If your level of income and wealth is very different, luckier parents may also be required to pay compensation.
People who have child custody can also ask the state for social benefits: housing benefits, single parent benefits or family benefits. City hall can also connect you with social workers. Financial assistance is one thing, but don't hesitate to surround yourself with friends or family.
Divorce is a significant source of financial waste. Some couples even live together even though they don't love each other, just to stabilize their financial situation. It's not always easy to make ends meet when you are in financial trouble and you want to get out financially. However, we cannot sit still by hoping to move forward without changing our habits. There are different situations when looking for a better financial situation.
For some people, acting in this way is a real need to survive. Indeed, sometimes it is necessary to find a solution quickly so as not to be overly indebted. However, there are also men and women who want to save money not to pay rent and to be able to pay their bills but to have other projects. In this world, it is necessary to have money when we have a project, when we want to make something. Therefore it is sometimes necessary to sacrifice to achieve a big goal.
Restoring your financial condition with concrete steps
The important thing to do first is to set a budget based on your income and expenses. Forget finding your soulmate for a while. Put everything in black and don't improvise it will help you not to make mistakes and especially not to spend extra money.
Whether you are on the verge of bankruptcy or just in the spirit of saving to invest better, every dollar is important if you want to get out of financial turmoil faster.
You can review your expenses in the past 6 months and determine purchases, the costs needed, which you cannot avoid; taxes, food, rent, gas, transportation. Depending on your income, you can then determine where you can reduce costs and especially find out how much you need. If you need $ 10,000 but you only save $ 50 per month, you won't go far, you also have to plan in time to succeed.
Invest your future!
Both in real estate, the stock market, one of the main ways to get out of financial turmoil is to invest. If you don't want to pay rent forever, if you don't want to ask for a raise but get it by being your own boss, then you have to go through this step. Yes, there are risks involved in this solution, but sometimes you have to move forward with uncertainty to realize your own project, so that you can really overcome all the challenges that confront.
Investing can also mean investing in yourself, which means training yourself, accompanying, improving skills, and thus self-esteem. Remember that your first wealth is yourself, your knowledge and your skills. If you are determined to improve your finances, this is highly qualified training and we suggest you test it and find positive results. It is highly recommended to take the financial steps above while doing some kind of spiritual healing. Thus a balance between physical steps and spiritual steps will be achieved. Hopefully what has been discussed in this article can really benefit you and anyone who wants to rise from the financial downturn due to divorce. Anyway, thank you for reading!
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