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Tracy Stewart, CPA
  • (979) 324-8179
  • (979) 324-8179
  • Location
  • Contact
  • Menu

Tracy Stewart, CPA

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  • (979) 324-8179
  • (979) 324-8179
  • Location
  • Contact
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Peace of mind through financial clarity.

Get Reasonable About Spending After Divorce

September 1, 2011 by Tracy Leave a Comment

I recently had a few divorce cases where the couples spend more than they can afford. The crazy thing is that they refused to see how dangerous this is.

I read in the news that Americans are saving more and spending less. Not divorcing Americans. Don’t these people want to retire some day?

Hello, readers!  If you are facing divorce and are not a billionaire, then you are going to need to cut back on your spending. I’m sure you feel you deserve to keep your current lifestyle. Odds are that your current lifestyle wasn’t sustainable anyway.

I’m talking about people with incomes ranging from modest to a million dollars a year.

Are you socking away 10% of your income? If not then review your spending. Look for ways you can cut back. Examine your spending habits and then cut back.

Stop getting manicures and pedicures. Do them yourself. The more you do them, the better you get at it. Invite girlfriends over and make it a party.

Are you overpaying for insurance? My husband and I had our insurance reviewed last month and saved $500 a year.

Look at your summer clothes. Did you wear them all? Take the ones you didn’t wear to a consignment shop.

 

Filed Under: After the Divorce, Financial Considerations, Financial Literacy, Living Expenses Tagged With: budget, divorce, expenses, financial issues, retirement plans

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Thanks for all the help, advice and encouragement. It's a real pleasure learning from an informed, honest and caring person. I sleep so much better at night. Thank you for everything!
L.B.

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