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How can I save money after a divorce?

| May 16, 2021 | Divorce |

Not only is divorce difficult emotionally, it is often hard on your pocketbook. Starting over again as a single-income entity in a post-divorce world may seem overwhelming.  

However, there are some common and simple steps you can take to reevaluate your new budget and get back on track. According to Divorcemag, you should make a comprehensive budget for yourself, stay out of stores and plan your own meals.  

A comprehensive budget

After a divorce, you are making an entirely new start. This means you should go through your life and conduct a financial audit. Things that should appear on your budget include your monthly bills and loan payments. These are the “must pay” expenses. 

Make sure to analyze your smaller expenses. For instance, if you have a gym membership that you are paying on but not actually attending, now is the time to be realistic and cancel it. Cutting your cable cord can save you hundreds of dollars a month. Check out your current cell phone plan and see if there is anything cheaper available. You may also be able to get rid of your car and rely on public transport depending on where you live.  

Shopping and meals

Many people shop to alleviate stress during and after a divorce, but this almost always ends in disaster. In the immediate. After your divorce, stay out of any sort of tempting shopping zone, be it a brick-and-mortar store or online. If you know that you cannot resist bargains, do not put yourself in a position where you might need to pass one up. 

Planning your own meals will also save you a lot of money and reduce food waste. Focusing on local, seasonal food can help you produce tasty dishes for an affordable cost.  

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