Surviving the Painful Financial Nightmare of Divorce Today our topic is a heavy theme. Sadly, many people think of themselves as victims of divorce in the face of the harsh realities of a broken marriage. Divorce is an unfortunate time for everyone. The aftermath affects not only the emotional well-being of a person, but also the notebook. For this reason, I asked Lauren McKinley of her soul repairs to reveal how to make financial progress after the divorce.
Surviving the financial blow of the divorce
If I could sum up the divorce in a word, it would be a loss. Small loss, big loss, material loss, loss of relationship. Emotionally, there is much to grieve. And it is a lengthy process that divides and loses the loss of each individual item. Through these losses, screening can have a huge impact on self-esteem. Before you go any further, why do I wonder why I'm wandering about these gloomy feelings on the financial blog? Before you stopped reading, I came to tell you that your self-esteem is not a big blow to your divorce. Once the emotional strike is controlled (as much as they can), the financial strike begins. So, here I am going to share with you what has helped me to reduce this special loss, financial loss.
This will sound like a rough and unfussy. But when you think about the moment your marriage is headed for divorce, you have to create a financial plan B. I know. Surviving the Painful Financial Nightmare of Divorce there will be many other crazy feelings. During this time, let us keep a logical / practical part of your mind, but now lead us to the best way we can. Before I continue, I have to be very clear, I am not a lawyer, I have not gone to law school, and I have little knowledge but financial choices made during my divorce in this field. I simply share my experience. Helpful, saving money, what I do not know, but what I learned. Here we go!
Create a solo budget
Now, my advice comes from the perspective of staying at home and turning my divorced mother. If this is not your role, you should create a solo budget. You'll have a new budget. If you are the only financial service provider in your family, you should now consider child support, alimony, and other child support that you have agreed to in your divorce. Okay, as I said before, the newly discovered single mom. Start with a budget to make sure you can only earn income or potential income. If you are not working and will not live outside soon to become a spouse's income, send a resume. Trying to find a new job can be a first step towards good distraction and a resurgence in life.
Even if you are on the way to collecting alimony, make sure you know the time frame of the period for which you receive this payment. If you have been married for less than 10 years, you will receive a grandfather who is half of your marriage until you remarry. If your marriage lasts more than 10 years, you will be divorced until you remarry. If your alimony is not the best way, find out what you need to do to keep your life as smooth as possible. Find a job that has as much benefit as possible. That way, you and your children will be medically explained. Look at the expense and remove the "extra cost" item. It's a costly time, regardless of your financial standing. To hide extra money, it's a good idea to temporarily downsize.
Go with mediation.
If you are in a strict period and can discuss divorce related items in a reasonable fashion, go to mediation. I know this is not for every situation, and sometimes it is impossible. To end this marriage, everyone should do their best. In my situation, we were able to tolerate each other enough to have a mediator. On average, mediation is much cheaper. We worked with lawyers and lawyers. The total cost for our divorce was $ 1,500, and people say it is very low for me. Except for costs, you can be relieved and frustrated because there is a lot of dialogue in mediation. Show the small financial interest you have by having the time of conversation. Surviving the Painful Financial Nightmare of Divorce this is usually the case with children. Who pays for football jerseys, dance recitals or private schools? We have decided to divide all tutoring and training costs by 50/50. Will you bill your child for several years? We have decided one year to insist on one year and another to claim another year. Put your brain on the rack for anything financial you can include in fine print.
Cancel all joints
This part is annoying as the marriage becomes longer. You must cancel and / or split all common property, cars, policies, loans, check / savings accounts, and credit cards. Any kind of positive or negative balance should be handled with all of your names. Includes life and health insurance benefits. In my case, because I was covered at my workplace, I found a new health insurance for 90 days from my divorce date. I had a new job by then, so it was not a stress area, but I need to know what the window looked like. Side note: I was advised not to open a new solo account until the divorce is complete. I did not do this investigation anyway. Because most of the time I saw my ex-husband's name on my check, it hurt. Anyway, my ex-husband already bought a new car in his name to his girlfriend. I thought the check was not too bad. All jokes aside find your legal counsel for these special decisions.
Weight check
Most divorce couples I know have split 50/50. When one person gets a house, the other person gets 401K, which he has acquired over several years. Approximately the same amount of owed two cars, similar to the interest rate, perfect, one by one. Take half of your credit card balance, the dollar amount of your savings account, everything. It may take time, you may need to be creative, but you have to PUT everything you have to make a financial decision. that. in. writing. You can clearly see where the money is going. If you are all flexible and happy, set up a preparation period for your remuneration. For example, one spouse wants part of the house. Decide to pay this amount in full within six months from the date of the divorce. Money tends to bring the worst for people, but my hope is that you can make a peaceful decision.
Fresh start!
Dave Ramsey says, "The voice of trustworthy money in the United States says there are savers and spouses in every marriage. Maybe finance was always the area of debate between you and your ex-spouse. Now you can save and spend as you like.Now, pay attention to this new freedom.I have found that there is so much frustration in previous accounts that there is no account in the checking account.Watch this! They are able to save money, spend wisely, raise their families and support themselves. My advice is that my advice has helped you and your bank account in some way. I am now on the other side and say that I should pay more and more precisely when I share my finances. It is worth the inconvenient conversation to express your concerns.
Surviving the Painful Financial Nightmare of Divorce try this hard time as a way to start over in the best way. Create a new life through one wise financial decision at a time. This wise choice will help rebuild a brighter life filled with less loss and more benefits. HerSoulRepair - Lauren McKinleyLauren McKinley is the founder of Her Soul Repair, a women's online community that heals due to shortcomings in marriage. Her mind spurts everything for marriage and family. More specifically, she encourages women with all the reasons why they are forced to quit marriage. She is the truth seeker, Mama is one, the teacher is the writer and the writer with passion. My first book, Stop Wrecking My Home, is scheduled for release in the fall of 2016. When she does not write, she spends time with her daughter, eats with her close friends, and ventures into a new place. She is most passionate about sharing the peace that God can bring even the most painful situations.
