Can you control the ‘What-ifs’ in Divorce?
Suzie Orman once wrote that “A big part of financial freedom is having your heart and mind free from worry about the “what-ifs of life”. There is a myth that in divorce, having little control and being in a constant state of panic and fear is the way it has to be.
Regardless of family income level, men and women going through divorce are most often dealing with the biggest ‘what-ifs’ with respect to their financial future. We worry that there is no way that our family income pre-divorce can possibly support two households going forward. Become an empowered financial decision maker so that your heart and mind can begin to heal from the emotional toll of separation and divorce.
Three steps to help you feel more in control.
- Educate, educate, educate! – Read books, attend seminars but most importantly seek out professional support to help you understand every aspect of the decisions that lie ahead. A Certified Divorce Financial Analyst (CDFA™), lawyer and/or mediator, therapist and financial planner are all important members of ‘the Divorce Team’.
- Prepare a Budget! – It is almost impossible to make financial decisions in divorce without at least taking a first stab at preparing your budget. Even if you have never done so, it is imperative to look at what the expense side of life will look like post-divorce. You cannot make financial decisions in divorce with any degree of certainty unless you know what your cash-in/cash-out situation will look like.
- Surround yourself with POSITIVE energy! – We all know how easy it is to be negative and how negative relationships can influence our well-being. In divorce, it is crucial to surround yourself with only positive friends, family and professionals.
Following these three easy steps will help you to feel in control of the decisions that lie ahead.