Finances after a divorce

[Georgie]

Hello good people, I am going through a hard time and yet I am also struggling to get back on the right track with money. As the title of my topic already says, I am divorced now and don’t know how to manage my money. It is so complicated now because we had a great routine and I found myself lost. Any advice? Thank you!

[Koolman]

Hey Georgie, I am sorry to hear about that. Also, I wouldn’t ask much about your personal situation, I just wanted to give you some advice from my friend who went through the same process. First of all, what he told me is to stop procrastinating and to start from now. I know that you may be sad, or angry, but you need to create the list of your goals. Your plans for the future, your plans, for now, paying off debt (if there are any, I hope not), automating some savings (if that is possible at the moment and so on). What do you think?

[Zelter]

Koolman gives you some great advice but I would like to add that you need to be prepared for long-term that you will have at least a half amount of money that you used to have. We, of course, don’t know how much money your wife makes, and also, it will take you a long period of time to pay everything that divorce itself requires. Do that first, so you can continue with your life. It is the most important thing to move forward emotionally, and also, be sad, don’t try to hide that like nothing happened. Or angry, because we don’t know what your situations were. Hope I was of some help.

[Georgie]

Thank you, guys. Well, Koolman, you are absolutely right about those automatic savings. Of course, I need to pay off all the debts, because unfortunately, we had those, and also the divorce cost us a lot. Now, we split all those bills, but I don’t know what to do next. I have a good job, but I am not sure how will I manage my money alone. Besides that, we also have children.

[Garnino]

You are now confused and that is completely normal. Imagine it like going out from a comfort zone. Because that it was, actually. You had some habits together and you managed the money properly (I guess you did because you are now lost and you haven’t said that it was the purpose of your divorce). You should continue with your job, daily life, and if you want-start something completely new. I would advise you not to go fast with that decision, but maybe changing your environment would help you. It doesn’t have to be a huge change, you can just take up a new hobby. Think about something that can make you money aside.

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