Extra Income: Single Parent Pluses

Posted on by Robert J. Reeves

After a divorce, newly-single parents may seem to be facing financial hardships they are not used to facing. Because of the difference in income (a dual income home becoming a single income home), it is understandable why parents would need an extra income. Here are some ways you can generate an extra income as a single parent.

Extra Income: Ideas for Single Parents

Writing

Writing is a great idea for an extra income. Because content writing is growing in popularity for a multitude of websites, writing on the side can become a lucrative and easy addition to your income. You can do it on your own time and write as little or as much as you want.

Pet Sitting

There is an art to pet sitting that not everyone has, but it certainly is an extra income that is easy to make. You can start by making small flyers for your neighborhood or simply by word of mouth. Pet sitting can vary from daily walks to over-night, long term stays. You decide what you are comfortable doing and what works best with your schedule. Additionally, the therapy from hanging out with a dog for a little while will boost your mood!

Online Selling

With the growing popularity of online marketplaces, it is easier than ever to sell unused or unwanted items online. You can declutter and earn some cash at the same time! This extra income will require a small amount of time and planning: you’ll have to coordinate with others to meet up.

Tax Preparation

While it is past tax season for this year, you can get your license and prepare for next year’s season. Tax season is busy since literally everyone has to file by a certain date. This form of extra income is seasonal, but worth it if you don’t mind the extra hours.

Part Time Jobs

​While it may seem like a commitment, a part time job will be an extra income that could also bring other benefits. Some stores give a discount for employees that could also help your family. If you get a 10% discount on food and other necessities, you’re not only earning an extra few dollars, but saving them, too!

How-to Find a Job After a Divorce: Hitting Your Stride

Posted on by Robert J. Reeves

Getting a divorce could mean having to reenter the job market. It is common that spouses that were “stay-at-home” parents before the split, but may need to find a job after the split. During the separation period, you will have to take a good hard look at your financial situation. Depending on your circumstances, you may determine that without income, you will not be able to afford the same time of lifestyle you have been accustomed to. Therefore, it is important to know how to find a job after a divorce. With a little time, effort, and patience, it is possible to reenter the workforce.

How-to Find a Job After a Divorce: Reentering the Workforce

Pick a Path

First, to find a job after a divorce, you will have to determine which career path you want to pursue. Keep in mind that just because you went to school for something, or worked in that industry before, does not mean you have to return to that field. It is a good idea to do some research about different career options. Ask your friends about their careers, and if they enjoy them. You could get inspiration from them! Doing online searches is a good option as well.

This is a great opportunity to do some soul-searching and determine what you want to do with your life. Start by thinking about what you love doing and what you are passionate about. Even if you can not turn your exact passion into a career, try and evaluate what it is about that hobby and see if you can apply that into another career path. Perhaps you enjoy playing team sports. Do you enjoy the socialization part of it? Or perhaps the competitive or strategic part of it? These different aspects can translate into different types of careers you could consider.

Set Yourself Up For Success

When trying to find a job after a divorce, you will want to take the steps to set yourself up for success. You will want to make sure to create an updated resume and cover letter so that you are prepared to apply for jobs. Have a friend you trust, or a career coach, to read it and give you feedback. Don’t forget to let your friends know that you are on the job hunt. They may know of positions or have connections that may be able to help you out.

If you don’t already have one, create a profile on LinkedIn. This will help potential employers find you, and help you to connect with others in your desired field. Having an update LinkedIn profile is an important step in the job hunting process. Many employers will even have a spot on their job applications for you to share your LinkedIn account name.

Apply

Applying for jobs can be frustrating and draining. You may hear a lot of “no’s”, or even get ignored, before getting a “yes”. Do not get discouraged. If you are not getting any luck, consider getting a career coach, or speaking with a recruiter. These can be helpful resources when trying to find a job after a divorce.

Education

If you absolutely can not find a job that you like and can support you without going back to school, you can pursue further education. There are plenty of programs out there that are geared towards adult students. Most of these even provide schedules that work around work schedules. This could allow you to find an interim job to be able to make money, plus still be able to take classes. Keep in mind that just because you go back to school for something doesn’t mean you will automatically land your dream job in that field. It could still take time, effort and patience to get to where you want to be. You may have to work some entry-level jobs initially, but you can still get to the career that you want with a little work.

Keeping the Peace When Dealing with Financial Trouble

Posted on by Robert J. Reeves

Keeping the peace when dealing with financial trouble can be difficult as money is one of the most common stressors in a marriage. If you and your spouse are struggling with money, you aren’t alone. However, blaming one another or constantly focusing on the negative isn’t likely to do anything positive to get you into a better financial situation. Or marital situation. So instead, work together to create a realistic budget. Then, identify and hone in on fixing unhealthy spending habits. Finally, set financial goals together, both short and long-term to help you stay motivated. Hopefully, by working together towards a common goal, you can get yourselves into a place where you can pay off debt and begin saving.

Keeping the Peace When Dealing with Financial Trouble: Don’t Let Money Ruin Your Marriage

Don’t Place Blame

Keeping the peace when dealing with financial trouble is only achievable if you both agree not to play the blame game. Unless one of you has a serious spending issue, it’s likely that you both contributed to any financial woes you’re facing. There will be times in any marriage where partners must rely on each other. Not everything is always equal, but over the course of a relationship, you both likely will have times when you’re making more or less money. Try to see the bigger picture and avoid pointing fingers, as this isn’t going to achieve anything other than resentment.

Work Together to Create a Budget

Another thing that can be helpful with keeping the peace when dealing with financial trouble is to work together to create a realistic budget. First, work together to compile a list of your monthly income. Consider everything you make both at work or any side hustles. Then, figure out a realistic budget that takes into account all of your month to month spending. Also make sure you account for things like subscriptions or yearly bills. Give yourself a little spending money so that things aren’t too rigid, but most of your income should go to debt pay-off and savings at this point.

Fix Unhealthy Spending Habits

It’s important to start identifying unhealthy spending habits if you’re already facing financial strain. For example, frivolous purchases, excessive eating out, or ordering in food. If there are subscriptions that you can cut out, do so. Additionally, if you are driving cars outside your means, see if you can find a better deal on one. Identifying places where you spend too much money and trying to come up with solutions together can save you more money than you realize.

Set Goals Together

Finally, keeping the peace when dealing with financial trouble is easier and more manageable if you set goals together for your finances. For example, set aside money for things that are fun like traveling, as well as the necessities. Make short-term and long-term goals, and keep things to small baby steps. That way, you won’t get overwhelmed. Focus on paying down debt little by little, then building an emergency fund of six month’s worth of income, and finally, creating a savings account and adding to it each month.

Money struggles can be incredibly difficult, but keeping the peace when you’re dealing with financial trouble is possible if you both commit to it. Firstly, you must both agree to avoid placing blame on one another. Likely, it’s a combination of both of your spending that has led you to this point. Next, make a list of all of your income and expenses for each month, and see if there are areas where you can cut down on things. Don’t forget those sneaky expenses like yearly renewals or subscriptions. Nip any problematic spending habits in the bud, like frivolous spending or going out to eat too often. Finally, create some goals together that will keep you both motivated to keep saving. Hopefully, if you work together and stay focused on the end goal of living without crushing debt or without being paycheck to paycheck, you can achieve your goals and some financial freedom along the way.

Post-Divorce Budget: Managing Your Money

Posted on by Robert J. Reeves

Getting your new life after your divorce going is easier said than done. In fact, there’s a few things you’ll need to do beforehand. Most notably, this includes setting up a post-divorce budget. Having a good budget can really help you avoid financial stress and begin your new life on the right foot…

Post-Divorce Budget: How To Adapt

Revisit your old one

The building blocks of your post-divorce budget can really come from the old one you had. Now, you’ll certainly have to make some adjustments. After all, you’re probably going from having two sources of income, to only yours. However, there might also be some expenses which you don’t have to worry about, or maybe even some new ones to consider.

Plus, there’s a pretty easy way of visualizing this starter budget. Draw a line down the middle of a piece of paper, and have one side be for your income, and another for expenses. Fill each side out, and then add the totals up at the bottom. This quick draft budget can help you see if your finances are in good shape, or if you need to make some changes.

Focus on the necessities

If you find that your post-divorce budget isn’t looking so good, then it’s time to make some cutbacks. That means that you’ll have to focus on the necessities over the more optional things. Basically, you’ll want to prioritize your needs (clothing, food, shelter, and transport) over your wants.

Still, even for your needs, you don’t have to go crazy. For instance, you might need clothes, but that isn’t an excuse to go on a big upscale shopping spree. Buy the things you can comfortably afford, and cut out those other things which are just draining money. This can help you balance out your budget.

Avoid big purchases

A big purchase can really mess with your post-divorce budget. For example, you might be tempted to move to a new house or get a new car as a sort-of kick starter for your new life. However, these kinds of purchases can really hurt your wallet, and leave you stuck in a worse situation in the long run.

Education Post-Divorce

Posted on by Robert J. Reeves

When your divorce is over, you might be wondering what to do next. It could be worth it to consider continuing your education post-divorce. While going back to school may seem like a hassle, there are some serious benefits you can get from it…

Education Post-Divorce: Benefits of Change

Learn new skills

One good reason to pursue education post-divorce is that it’ll teach you new skills. Usually, divorce tends to make a mess of your previous financial plans. This could leave you wanting to make some advancements in your career. One good way to do this is by heading back to school.

Furthering your education will help you learn new skills which can give you an advantage. For example, communication and strategic planning are just a couple of the highly-desired skills that can help improve your work ability. By showing your employer your new skills, you’ll be more likely to end up in a better-paying position.

Find something new

Still, what if you’re unhappy with the job you currently have? Or, what if you need to reenter the workplace after a long absence? Some education post-divorce can help with this as well. More education will make transitioning into new fields much easier than they would be otherwise.

By furthering your education, you’re getting yourself more familiar with the key skills your new field values. That way, it’ll help your resume stand out more compared to others. Plus, this can also be a great time to learn new skills which weren’t around when you first graduation, such as Microsoft Office.

Consider your schedule

If you want to further your education post-divorce, then make sure to find a schedule which works your you. School work, on top of adjusting to your divorce, can be a lot to take on at once. For some people, they end up overwhelming themselves and struggle immensely with the demands of school, work, and other personal matters.

One thing which is useful are online classes. Many schools will allow you to take courses online rather than in-person. That way, you can tackle the workload at your own pace. This can be especially helpful if your schedule is constantly changing, or if you live further away from campuses.

Divorce While Living Together

Posted on by Robert J. Reeves

Usually, most people think that a divorce means one spouse will move out of the house. However, sometimes both partners will stay in the same place. Pulling off a divorce while living together might seem frustrating, but there are ways to make it easier for the both of you…

Divorce While Living Together

Why do it?

Why would a couple decide to do their divorce while living together? As it turns out, there’s a few reasons why they may make this choice. For starters, it can help save money. Doing divorce this way means you don’t have to worry about the costs that come with finding a new place to live.

Also, it might be a good idea if you have kids. It can be hard for them to register the divorce, and then see one of their parents leave right after. If you still decide to live together, you can help your kids understand what’s going on, and prepare for the changes that’ll come.

Cooperation is key

To make your divorce while living together go smoothly, you and your partner will need to work together. In general, this means doing the things you probably did before. For example, you’ll both still want to help with things like cleaning, buying groceries, and handling bill payments.

However, you’ll also want to keep things civil for the kids. In fact, this is a good time to work on a co-parenting plantogether. That way, you’ll have it all sorted out and ready to go once the divorce is finalized.

Have good boundaries

Of course, the biggest hurdle to doing a divorce while living together is avoiding those same issues which lead to the divorce in the first place. To help avoid those problems, it’s important to have good boundaries. These boundaries will help you have some personal space, even when sharing a home.

One thing divorcing couples who are still living together tend to do is set up separate rooms. That way, they have their own space to go to for privacy. It might feel a little “off” at first, but it’s still important to respect those boundaries.

Working Post-Divorce

Posted on by Robert J. Reeves

After your divorce, you’ll probably want to boost your income. One good way to do that is by working post-divorce. However, if you haven’t worked in a while, it can feel a bit intimidating. Still, there’s a few steps you can take to get yourself prepared…

Working Post-Divorce: Getting Prepared

Determine your interests

Before you start working post-divorce, it’s important to determine what exactly you’d like to do. For instance, maybe you’d like to do the work you were doing before your marriage. You already have experience and the basic knowledge down, which can make it easier to start again.

Or, you might want to expand your horizons. In that case, it’s good to start doing some research. Consider what exactly it is you’d like to do, and what sort of jobs would fulfill that desire. You can also see what job fields tend to be hiring, as well as which ones pay better than others.

Improve your skills

Another good thing you should do before working post-divorce is to boost your skills. Even if you haven’t been working for a short while, industries are always making new advancements. Therefore, it might be useful to take something like a computer skills course, which will help you get familiar with the latest programs.

However, you might need something more-intensive, especially if you want to pursue a new career. In these cases, it’s useful to get some more education. You can accomplish this by taking courses at a nearby college. Community colleges in particular are a great way to improve your skills at a lower cost.

Refine your resume

A good resume is important for working post-divorce. After all, just because you haven’t been working doesn’t mean you don’t have marketable skills. Even things like volunteer work or other leadership positions can help boost your chances with a potential employer.

It also helps to have another pair of eyes check your resume. Let a friend or two read over it and check for any spelling or other grammatical errors. A career counselor can also help you make sure that your resume stand out.

Divorce Logistics: What To Consider

Posted on by Robert J. Reeves

There’s a lot more to a divorce than you may initially think. In particular, you’ll need to consider some divorce logistics that you have to sort out. These factors will be important for making sure you can give your divorce the attention it needs…

Divorce Logistics: Important Elements

Place to stay

One important part of divorce logistics is where you will be staying. Some couples will decide to keep living in the same home while handling the divorce. Usually, this is because they can keep the peace and stay out of each other’s way. This makes it a lot easier for both parties to focus on the divorce.

However, you may not be able to do this. Instead, it may be the case that you need to find some other place to live. While an apartment may be the most apparent solution, you can also reach out to family too. Staying with family can help you save a bit of extra money, which is quite helpful.

Time off work

Your job is also going to be a divorce logistics factor. There’s going to be a lot of times when you’ll need to take care of something which falls on a workday. As such, you’ll need to ensure you can make the time for them by being able to take time off of work.

Most people will make use of things like vacation or sick days to do this. Still, it’s good to try and talk to your boss or supervisor about what’s going on. Many times, they’ll understand what you’re going through and the time you need to take care of it. So long as you can get your work done, they’ll probably be willing to help you out when you need to take some time off.

Watching the kids

Having kids can really change how you approach your divorce. They also are another thing that you need to factor some divorce logistics around. With both work and the divorce, you and your ex probably won’t be able to always watch the kids when needed.

Therefore, you want to make sure someone will be able to watch the kids when needed. Friends and family are great for this. If they can, they’ll usually try and help you out by watching your kids. Of course, well-reviewed babysitters are also good should your friends and family not be available.

How-to Successfully Move Post-Divorce

Posted on by Robert J. Reeves

Following your divorce, it may be tempting to move somewhere new to get a “fresh start.” However, it may not be all that easy to move post-divorce. As such, it’s good to know what steps you can take to improve your chances of success…

How-to Successfully Move Post-Divorce: Helpful Steps

Consider why you want to move

Before you get your move officially underway, it’s important to consider why exactly you want to move post-divorce. There’s a lot of reasons as to why someone may say they want to move. Some want to start over somewhere new away from where their divorce took place. Others believe that there will be better opportunities for them to start doing what they really love instead.

Still, ask yourself if you really need to move in order to do this. Remember, you can make a lot of those positive changes even if you don’t move. You may also need to make extra considerations about your kids if you’re a co-parent.  You’ll only want to move when you’re certain that it’ll be best for you.

Budget ahead of time

Should you decide to move post-divorce, then you’ll want to start working on a budget. Moving isn’t always cheap, especially if you’re going out-of-state. This can make things a bit complicated when coming off of a divorce. Therefore, it’s good to ensure your finances can handle a move.

Consider not just the expected costs, like down payments or rent, but also any additional living costs as well. This can include extra fees, or things like new furniture, utilities, etc. You’ll also want to factor in moving costs, like moving truck rentals, movers, and gas for longer trips.

Talk to the kids

If you’re a single parent, then one of the hardest things can be getting your kids ready for a move post-divorce. The divorce itself already may have caused a lot of change for them. Now, they may have to leave behind things like the school and friends that they were familiar with.

One way to help your kids deal with this, especially if they’re older, is by getting them involved. Ask them for their thoughts of where they’d like to move, or what they’d want out of a school or community. You should also encourage them to keep in touch with their old friends. This will help them feel like an active part of the move, instead of just an unwilling participant.

Dealing with a Financially Irresponsible Spouse

Posted on by Robert J. Reeves
Dealing with a financially irresponsible spouse can be incredibly frustrating, and it could put you and your family at risk. While everybody splurges occasionally, if you are dealing with a partner that consistently abuses your finances, it can cause irrevocable havoc in your life. It’s important to confront the issue head-on and be honest about what’s going on. Try to pinpoint where the actual problem is and focus on fixing it. You might need to take over control of your family finances, at least until your partner can be more trustworthy with money. And finally, in extreme cases, you might need to take further steps to protect yourself like opening your bank accounts. Hopefully, you and your partner can work through any money issues and get things back on track quickly.

Dealing with a Financially Irresponsible Spouse: Protecting Yourself

Be Honest About the Issues

When dealing with a financially irresponsible spouse, it’s important, to be honest and upfront about what’s going on. Sit them down for a discussion about why you feel there is a spending issue. Hopefully, they’ll be honest with you about what’s going on. Seeking help from a marriage counselor or therapist can help make discussions like these go more smoothly.

Try to Pinpoint the Problem

Try to brainstorm together to figure out what the source of trouble is for a financially irresponsible spouse. For example, is it eating out at restaurants, spending on clothes, or impulse purchases? Is it not being able to foresee bills coming up and saving properly? Or is it something more serious like a gambling addiction? Finding the source of the trouble might help you find solutions for fixing it.

Take Control of Finances

If you have a financially irresponsible spouse, it might be time to take control of family finances. However, this doesn’t mean that you have to cut your partner out of decisions. Just make sure that you are the one paying bills, and overseeing spending. Move bills to your name so that you can be sure they are paid on time. Tell your partner when you’re paying for things, and for how much.

Protect Yourself

Finally, you might have to take more drastic measures if your spouse is out of control with their spending. Failing to pay bills on time, or maxing out credit cards can seriously hinder your credit. You might consider getting them a secured credit card, or even opening up bank accounts in your name where you can pay household bills and begin saving. You might love your partner very much, but they could be devastating to you and your children financially. It’s important to take steps to protect yourself and your family if you are living with a financially irresponsible spouse. It might be issued with overspending, failing to save money, or lapsing on bills, but regardless, it can do a lot of damage to your life and credit score. Try to sit your partner down for an honest conversation about finances, and let them know your concerns. See if they can help you find solutions to the issue, or commit to making changes. Consider taking over family finances so that you can ensure bills are paid on time. And finally, you might need to think about opening up your bank accounts, or removing your spouse’s name from bills so that you have more control. Hopefully, the two of you can seek counseling and work through this issue so that you can set and reach financial goals together.