I meet with women every week to assist developing and achieving their financial goals. The top two things women want help with is saving more money and buying a home. Heck, who am I kidding, not too long ago those were my top two financial goals! Having recently become a homeowner, I must tell you it’s not all it’s cracked up to be.
Don’t get me wrong, I am extremely thankful for my home and the fact that I now own a piece of America, but I have some pretty strong reasons for wanting to go back to renting.
Divorce can be an emotionally difficult experience. Divorce attorneys and therapists agree that women and men who experience divorce, whether they consent or not, suffer with bouts of depression. The same applies to the financial situation. Of the 1.5 million people who filed bankruptcy in 2010, 8% of them indicated that divorce was the cause. Although this is not a high percentage, divorce can negatively alter the family’s finances.
I can attest to this experience. My husband and I divorced almost 10 years ago, and the journey back to financial stability has been a difficult road. I have experienced, job loss, repossession, homelessness, and needed government assistance at times to survive.