Good Lifestyle

In addition to the dissolution of your real partnership, divorce has a means of dismantling other areas of your life. After put an end to your wedding , you can find yourself navigating in the new rules of co -parenting, social scenarios and finance, among others. In fact, according to Forbes , it is difficult to overestimate the financial impact of the divorce, especially for women. In 2022, the magazine wrote that women over 50 who divorced experienced a 45% drop in their standard of life , while men made a 21% stroke of their finances.

The answer is of course not to hold it in a deeply unhappy or dysfunctional relationship - in some cases, divorce is inevitable. However, the preparation of monetary changes that you can undergo as a result of your divorce can help you prosper after the dust regulations and that the paperwork is signed. In fact, financial experts say that by planning your future expenses now, you can enter this next stage of life with clearer eyes and a more complete wallet - two things that can help you cross the transition.

What do you wonder to stop buying after divorced? Read more to find out what expenses to brake for greater financial freedom in your newly single life.

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For many married couples, shared expenses are paid by shared funds. When you divorce, you can see that certain goods or services that you have identified as "shared" while the bride and groom only benefit from your ex - for example, automotive insurance, mobile phone bills or expenses related to hobby.

Not only should you immediately stop payment if you notice these types of expenses, but you must also plan to quickly establish your own accounts and freeze shared credit cards, says Andrew Lokenauth , the financial expert behind Talk about finance And The finance newsletter . This is particularly important because your ex's expenses could continue to assign your credit scoring for as long as your accounts are connected.

In your conjugal house, especially if you were in a double-income family, you may have used a larger house or with more pleasant furniture. It can be emotionally difficult To reduce size or demo your space.

"After divorce, there is often a desire for stability, and having a house may look like a solid step. As much as you may want this house with the fence, it's a good idea to pump the brakes", said Jonathan Merry , expert in resident finance for Moneyzine .

Instead, he recommends taking this time to embrace the state of flow of your life and make sure you know what you want before engaging in a new property. "Even if you may want to settle down immediately after the final decree, give it a year. Major life decisions after an event that changes life can often be impulsive. You don't want remorse of a buyer On this one, "he says.

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Often, newly divided housing provisions mean that someone will need new wheels. However, Amy Colton , CDFA, financial analyst certified in divorce and family law mediator with Your divorce was simple , said you should think twice before buying a new car shortly after a divorce.

"If transport is necessary, it might be preferable to consider a used car or keep the current one, if possible. A new car can be delivered with high monthly payments and higher insurance rates, which might not be sustainable on a single income or with an increase in expense after divorce, "she said.

The emotions and financial stress of the divorce can improve when children are involved. Some parents try to appease their children and themselves by the way.

"The consequences of a divorce often mean wanting to take your children of love. And it is incredible! But, sometimes this love results in a wave of expenses, aimed at surpassing the other parent," explains Merry. "Whether you drive in the dough or scratch, excessive expenses are not the answer. Do not forget that children appreciate love and stability more than the most expensive toys. Pre -ordered a balanced family environment and gifts in a thoughtful way. "

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Even if it is in the short term while you find your foot, it is wise to change your financial expectations after a divorce. Some people do the opposite by accelerating expenses in luxury products with a renowned brand appeal and an equal price.

"After a divorce, individuals can see that their disposable income has reduced considerably," said Colton. "The purchase or purchase of luxury purchase can lead to new financial pressure. Emotions may be high, and it may be tempting to engage in a form of personal care or distraction, but this can exacerbate challenges financiers. "

Lokenauth agrees that you should aim to reduce this category of unnecessary expenses. "Reduce expenses in expensive articles such as jewelry, creative clothes, handbags and more," he advises.

You may be looking for a change of scenery after a difficult divorce, but the experts warn against expensive travel that could put you in financial danger.

"Although it can be tempting to take a getaway after the divorce, the expensive holidays can drain the savings. Instead, consider traveling more favorable to a budget or local stays until financial stability is Restored, "advises Colton.

In relation: 7 things that divorced people want to have done differently in their marriage .

Other expensive activities that can be used as distraction and feel good at the moment could also be reckless for your wallet. Lokenauth recommends reducing gastronomy and club membership during this financial transition. AE0FCC31AE342FD3A1346EBB1F342FCB

"The restaurant can become an important expense," says Colton. "Although it is essential to maintain a social life after a divorce, frequent restaurant visits can express a budget. Learn to cook, planning meals or the organization of potlucks with friends can be profitable alternatives."

After a divorce, many single people want to mark their new start in love and life with a new look. However, Merry warns against excessively spending on things like clothing, accessories and makeup, which offer little return to your investment.

"I understand that being new single means again that you would like physical changes. It could make you want to mix things - new clothes, new hair or even more drastic changes," he said. While Merry admits that making small stimulating adjustments to his appearance can be "fantastic", you should be prudent to go too far. "Emptying your wallet on an extreme youthful treatment right now is perhaps not the best idea," he said Better life.

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