There is no question that after a divorce, most people (women in particular) will have to downsize their lifestyle. Whatever other headaches and problems they bring, with men in the household the standard of living is usually higher than when a woman is left to fend for herself.
But more and more women are the main bread winner in their families. So it is not as if they won’t be able to make it after a divorce. Still, even if a woman was the main bread winner, usually the husband brought in a little something, and with that off the table, a single girl’s got to learn to economize, cut corners, budget, save, and “do without” in order to make it through the lean years.
Do not be afraid of the lean years. They build character and discipline. But if you strategize, it will feel like a little pinch, rather than open heart surgery.
You are definitely going to need a written budget. You will have to assess the needs
and wants of your new family. Obviously, start with needs and whatever is left over can take care of the wants. You may not be able to satisfy all of your wants, but aim to fill as many as you can.
Maybe you are going to need a second job – depending on your situation. If you have children at home, that might be difficult, but you will have to figure out if that is something you can do. There are other businesses you can run out of your home. You can even start a blog about your divorce and make it so hot, that everybody reads it. Next thing you know, you’re the Perez Hilton of Divorcees and you are making a truck load of cash just sitting at your computer while nursing your infant. It’s amazing.
Hopefully you are getting child support or even spousal support from your former spouse. Even if the spousal support is limited in duration, it is better than nothing and it gives you a bit of a cushion as you adjust to the new lifestyle.
You may have to downsize your home. A lot of women want the house and they get it only to find they can’t afford to pay for it. If you absolutely must have the house for sentimental reasons, consider getting a tenant or short term boarders. I know one of my former clients did that and now she’s always taking weekend trips to Peurto Rico. I love her. She really came out of her divorce a tiger, even though when she first walked into my office, she was like a scared kitten.