Help! I’m drowning in debt.

Oh, how we all struggle with “needs” versus “wants!” Most people never learned to live on a budget, even within their marriage. This is a good time for you to learn the FREEDOM from fear and anxiety that comes from living within (or ideally below) your means.

Plan for your future

Divorce may have economically thrown you into the ocean, but reordering your financial life as a result can be a real lifesaver. This is a time to see where continued overspending might be coming from a lack of self discipline in other areas, fear of not getting what you think you deserve, a tendency to laziness or avoidance . . .  or simply no one ever teaching you how.

Get a financial coach

You may have a family member or friend who is good with numbers, finanial concepts, and seeing the big picture. You don’t have to be a CPA to be able to undestand your income & expenses, and to make a plan to get where you want to be. What’s the first thing most people must do after divorce?

Get on a budget

Be realistic about your future income. Don’t plan it all around alimony or child support that may or may not materialize or last forever. Anticipate all your annual expenses, starting with the basics and including charitable donations, birthdays, holidays, school, vacations, new tires, doctor and dentist visits, etc. Get a life coach, financial advisor or other expert to guide you. And ask yourself, “Does anyone really need a $500 purse?”    You can do this in a day!

Practice detachment

Yes, we all need food, clothing, shelter, and medical care, but in reality, we “need” far less than we think. Detachment from material goods does not mean rejecting these gifts, but righty ordering your thinking about them. Pray for the grace to see money and possessions in the light God wants you to see them: as gifts, none taking the place of the provision and satisfaction only He can give.

References:

 Bible: But first seek the kingdom of God and His righteousness, and all these things will be added to you.  Matt 6:33

Catechism: The tenth commandment forbids greed and the desire to amass earthly good without limit. CCC 2536

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Do you need some wisdom and guidance during or after your divorce? Schedule a coaching session with me (see links below) or find comfort in one of my books.