I Never Thought Being a Single Parent Would Be So Hard Financially

In today’s world, kids are expensive.

Actually, everything is expensive and in my home state, it’s doubly so. When my ex and I started talking about divorce, I knew it would be financially hard. I lived on my own before getting married, and I knew it would be a costly endeavor, especially with a kid. It definitely was discouraging, but I knew we had to make the call. Even if I ended up struggling for eternity, this marriage was ending.

I never believed that I would struggle for eternity (and still don’t). If you asked me five years ago when we separated what my financial long-term plan was, I’d tell you it was to pay off debts, save and live. Are those bad goals? Nope, they’re fine — but they weren’t concrete or specific enough.

I talked to a financial planner thanks to the amazing organization, Savvy Ladies. I budgeted. In fact, I still tweak my budget often and track my spending daily. I even budgeted for emergencies and stuff that might happen along the way while I planned out my “financial life” as a single parent.

 

Read More:  I Never Thought Being a Single Parent Would Be So Hard Financially

 

Hang Tight,

Laura

You Can’t Keep Up With Your Married Friends’ Budgets After Divorce–& That’s Ok!

Although there are exceptions to every rule, many of us feel a financial lifestyle shift after divorce. This impact can be lessened if you end up getting good financial support from an ex or, if you have family who helps support you. But overall, most people have to make financial adjustments. This may mean that you won’t be able to spend like you used to on everything from “must-have’s” to “want-to have’s.” This can be extremely frustrating and hard to adjust to, but the reality is being happy is more important than having a certain lifestyle. As long as you have a roof over your head and are healthy … that’s more than many people have.

If you beat yourself up over these financial changes, it can really bring you down. There’s nothing worse than the feeling of coming up empty-handed, while you think others are doing great and able to give their kids the world. The operative word being “think,” as you really don’t know how other people live, and what they go through. And no matter what, you’ll never measure up by comparing yourself to a two-income family and by doing so, you will only make yourself feel worse. There are ways, however, to deal with these financial stresses and comparisons between your friends and yourself. Read on – and hang on because it always gets better.

Read More: You Can’t Keep Up With Your Married Friends’ Budgets After Divorce–& That’s Ok!

In the Balance,

Laura

My Interview For Fox News on Financial Education for Women

When I decided to get a divorce, I was terrified. I was financially dependent and desperately trying to grow my income. Three years later, with a lot of hard work and sweat…I am doing it, thanks to the help of an amazing organization called Savvy Ladies.

Please watch this video and share. It could help a woman who is struggling in silence.

Watch the interview here.

With Hope,

Laura

Why Moms Should Be Mindful of the Money in Marriage

While many women do manage the household bills, more often than not, people envision men as the money managers and makers. But with more women in the workforce — the US Department of Labor says 70 percent of women with children under 18 “participate in the labor force as opposed to 47.4 percent back in 1975” — those financial myths are just that — myths. An even bigger change? The Department of Labor says 40 percent of women are the sole income makers or breadwinners for their families now, as opposed to 11 percent back in the ’60s. Women must understand how money works, even if they’re stay-at-home mothers. To sit back and hope that your husband will manage the money and trust him blindly is not a smart move. Chances are your husband or partner is an honehttps://wordpress.com/post/st person, but even the best of people can make poor money choices, whether intentionally or not.

Read More: Why Moms Should Be Mindful of the Money in Marriage

Be Aware Ladies (& Gents),

Laura