Taking the Long View About Your Finances After Divorce
At first, struggling financially with your spouse brought you closer. You enjoyed your ramen noodle date nights at home, watching YouTube videos interrupted every few minutes with noisy ads, but in time, the constant stress of living paycheck to paycheck pushed you apart. Now that you are going through a divorce, it is clear to you that you never realized how good you had it when, at least, there were two of you to walk home from work, even when the temperature was still 80 degrees, because neither of you had any money for bus fare. The worst part about your finances after divorce is not that you are broke and alone; rather, it is that you no longer have your entire career in front of you, and there is no one but you to turn things around. Everyone feels the financial sting of divorce, but how badly it stings and how long the pain lasts depends partially on your attitude and partially on how thorough you are about working out a divorce settlement. For help getting a fair property division settlement that will enable you to recover financially after your divorce, contact a Boca Raton divorce lawyer.
Every Divorced Person Takes a Financial Hit, but It Is Temporary
You might resent your spouse for taking a sizable share of your marital property in your divorce, but your spouse is probably feeling the same way about you. According to a recent report by Kiplinger, the average man whose divorce has just become final has 21 percent less money than he had when he was married, while the average recently divorced woman has 45 percent less.
What happens next depends on your individual circumstances. If your spouse’s expensive tastes kept you in the red during the marriage, you can rock on with your buy nothing lifestyle after you get divorced. You can downsize until you are living with five housemates and riding a freecycled bicycle to work. If you and your ex-spouse have children together, your ex’s parenting time is your chance to pick up extra shifts at work or earn new credentials to increase your income.
Know What to Fight About and What to Take in Stride
The biggest bummer about divorce is that it makes you aware of your mortality. You realize that you only have so many years left in the workforce, and that whatever property you can acquire by the time you retire will have to sustain you for the rest of your life. If the marital home will be your source of financial stability, it is worth negotiating in mediation until you find a way to keep it, even if that means that you must pay your ex-spouse a large equalizing payment and that a family member must co-sign with you on a new mortgage loan.
Contact Schwartz | White About Rebounding Financially After Divorce
A South Florida family law attorney can help you decide which marital assets you need the most to rebuild your finances after divorce and what you can reasonably expect to keep. Contact Schwartz | White in Boca Raton, Florida about your case.
Source:
msn.com/en-us/lifestyle/marriage/how-women-can-turn-a-gray-divorce-into-a-financial-win/ar-AA1EkCa2?ocid=msedgntp&pc=ACTS&cvid=d502716e55e74ebfbe3aa9168810c378&ei=13
