Going through a separation can be a very trying time, both emotionally and financially. Many at this time will decide to mend the emotional scars first and withdraw from the world for a moment so they can regroup.
But the bills start piling up, and it is eventually time to think of a plan B. Divorce isn’t always a financial death sentence, and in some ways, it could actually be a blessing in disguise. Either way however, changes will have to be made in order for you to get back on track. Here are some ways that you can thrive after a divorce.
Do Not Make Choices Based on Emotions
If you’re feeling too emotional, it would be important to avoid any major financial decision during the early stages of a divorce. Going on an expensive vacation or buying a new home could seem like the right idea at the moment to get through, but the effects of retail therapy are short lived.
Instead, you should start counting your assets and getting rid of things that are either useless to you or hold too much of an emotional charge. The most obvious choice is getting rid of your wedding and engagement rings. There are many services that will allow you to sell your rings through a no hassle process completely online. However, make sure that you deal directly with retailers and not wholesalers if you want to get the best quote. Some will allow you to get your money within the same day that it was received and appraised.
Restructure and Take Charge
One of the most important things is that you should never let this divorce define you. From now on, you have no chance but to land on your feet. If you can downsize and move somewhere less expensive, whether where you are or a different city, do it. And be ready to work hard to get your finances straight. If that means taking a second job, so be it. This could be temporary until you’ve paid off your debts and can give your family a fresh start.
Don’t Start Getting Competitive with Your Ex
Even if the divorce was bitter, you should refrain from trying to one up them as a parent. This is not the time for that. Your goal should be to keep your family afloat first and foremost. Trying to outspend them, or trying to be the cool parent is the absolute worst thing you could do right now. If you can’t be with your kids as much as you’d like or can’t take them on the trips or activities they’re used to, let them know about the situation and also let them know that you’re doing it all for them. They’ll understand.
Divorce is a challenge for everyone involved. But making sure that you give yourself and your family the best space to thrive and overcome the situation is critical. Make sure that you follow these few tips, and always try to make it a collaborative effort as much as possible.