Financial security is very important to obtain after your divorce. Whether you are looking to get out of debt or being able to live comfortably, the following 10 steps will help you become and stay financially secure.
- Start Today. Don’t keep procrastinating. The first step is sometimes the most difficult to take. It requires making a personal commitment to take action.
- List Your Goals. The best course of action is to start small and make a list of your top three goals. Identifying goals helps you better understand how realistic they are and what you need to do to achieve them.
- Have a Plan. Create a written financial plan that includes each objective.
- Automate Savings. Setting up an automated withdrawal system helps you pay yourself first. This will help keep you on a budget and still be able to save a few dollars along the way.
- Focus on What Can Be Controlled. Instead of worrying about the financial shows on cable and news programs, focus on yourself and your financial situations.
- Invest in Yourself. If you want to continue your education, take a fun- filled vacation, or build your dream house, now is your time. This will help build your self-esteem and confidence.
- Live Within Your Means. Sit down and make a spreadsheet of all of your monthly expenses and your monthly income. This will help you physically see where you can spend money and where you need to put some to the side.
- Manage Risk. An emergency fund is always a good thing to have just in case and unexpected event occurs. This will also give you peace of mind to know you aren’t living paycheck to paycheck.
- Monitor Your Portfolio. Major events in your life could trigger a review and adjustment to your financial plan. Some major events include getting married, switching jobs, buying a new home, health issues, or retirement.
- Get a Fresh Perspective. Make time for yourself. Take a trip to regain your energy or get a new fresh look. You need a break after all that you have been through with the divorce and regaining yourself.
For all of your divorce and financial questions, contact Dreyer Law today so that we can go into greater detail on financial situations on your specific case.