What Getting Divorced Can Teach Us about Money
Sometimes reading about people’s personal experiences after divorce can help us realize that, although the prospect of splitting from your partner can seem daunting, it can also end up making you both stronger and wiser. One particular piece recently published in Refinery29 does just this; it explores how one woman’s journey into financial independence after divorce forced her to earn an independence and sense of self that was long overdue.
The piece opens with one simple statement: “A man is not a financial plan.” Indeed, the common theme that runs throughout our society is by getting married, we are effectively solving the problem of personal financial insecurity. While many of us start out in our youth obtaining financial assistance from our parents and/or relying on credit cards for support, there comes a time when we have to face the financial reality that is living within our means. This is also often the case for people who get married and then divorced, as most-everything is more expensive for single people versus when you are a part of a couple (because one is covering bills, rent, etc. all on one’s own). In some ways, getting married allows us to continue our “old money habits”—buying things on credit cards that are unaffordable, failing to keep a savings account, etc.
Personal & Financial Transformation
If there is financial reliance on one person within a relationship–or on at least having two people split the costs of everything–what happens if a couple then gets divorced? The credit card, student loan, and other debts are still there if someone has yet to learn how to live within their means. While divorce ends up providing reclamation of happiness for many, it can also sometimes serve as a personal financial transformation as people learn how to support themselves on their own.
This writer describes how her split actually allowed her to finally learn about the life that she could sustainably afford, and this included looking at her own career track and ensuring that her skills were put to use in an industry where she was no longer being underpaid. It also involved developing creative and resourceful skills in order to pay off her debt and start saving for an emergency fund; even taking a hard look at other factors in her life—such as where she was living, proximity to family, etc.—for the better. With this transformation came a new outlook on money, as it was now a “symbolic seed capital for a new life.”
Representation during Divorce
Know that—if you are going through divorce—there is often a light at the end of the tunnel. Serving Fort Lauderdale, Boca Raton, Broward County, and surrounding areas, the law office of Sandra Bonfiglio, P.A. can provide compassionate, excellent legal services during this time. Contact our office today to find out more about how we can help.