While the emotional strain of a relationship breakup is quite difficult on its own, sometimes it can take a toll on your financial health too, especially if you were sharing your finances with your partner.
In such cases, a breakup can include complicated decisions that are very difficult to come to terms with. However, do remember that these little obstacles are a very tiny step in the face of success.
If you’re confused about how to get around the financial burdens post-break-up, don’t worry anymore!
Here’s a little guide on how to recover from financial hardships caused by breakups!
Focus On Yourself and Your Mental Health
First things first, you need to ask yourself, are you okay?
Breakups are difficult and it’s not something you should set aside too lightly. Take your time to come to terms with it and move on when you want to move on. The next steps regarding finances come after you have taken care of yourself and are ready to take on any other challenge.
If at any point you feel it’s getting too much to handle, always talk to someone. Whether it be a professional, a friend, or a family member, tell them how you feel and let your worries out. It’s okay to feel burdened by these sudden changes in your life.
The grass is greener on the other side!
Divide Up Your Stuff – What’s Yours and What’s Theirs?
This step can be challenging, and it requires a lot of courage. But it’s a bandage you need to rip away!
Dividing up your stuff will give you a better idea of what is yours and what is theirs. This will help you organize yourself and prepare for the next steps. Also, this gives you a better understanding of where you stand financially and what your future objectives should be.
Don’t forget, this step can take a while to confront and that’s okay! Take your time understanding the situation and move forward at a pace YOU are comfortable with.
Start fresh and be in total control of your finances.
You might need to find a place to live, furnish it, and begin planning for your future. This is a good time to create a new budget according to your finances. Set up a budget that allows you to get out of debt and works towards your financial goals.
I would also recommend keeping your finances separate for your future relationships and be aware of where you stand financially, at all times. This is for you and your independence so that you aren’t scrambling for food if such an incident were to occur again.
Meet with A Financial Consultant
Having to deal with finances right after a difficult breakup is not an easy step for anyone to take.
The good news is – you aren’t alone!
Here at FYE Finance, we can help you every step of the way! Our consulting sessions are tailored for your needs and can guide you with creating a budget and planning your future objectives.
At FYE Finance, we work with you for a better and happier tomorrow!