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Financial Recovery After Divorce: 7 Steps to Reclaim Your Financial Freedom

Turning Divorce into a Fresh Financial Start.

Author

Paul Stryer
December 26, 2024

MOMENT OF MINDFULNESS
Thinking About The Future:

Take a moment to reflect on these questions. If you're journaling, write both the question and your answer in your journal.

  • What would your day-to-day life look like if you no longer had to work for money but instead had money working for you?

YOUR WEALTH GUIDE: NEWSLETTER
Financial Recovery After Divorce: 7 Steps to Reclaim Your Financial Freedom

Divorce is a challenging experience that impacts every facet of your life—especially your finances. While the process can feel overwhelming, it also presents an opportunity to forge a new path and take control of your financial future. With the right steps and guidance, you can rebuild your financial foundation and regain stability. I'm here to help you navigate this journey.

Let's explore seven actionable steps to help you recover financially after divorce and reclaim your financial freedom.

Step 1: Take Stock of Your Financial Situation - Understand Your Starting Point

Before you can move forward, you need to understand exactly where you stand. The first step to financial recovery is to take a complete inventory of your financial picture. List all your assets (what you own), debts (what you owe), and income sources. Whether it's the house, retirement accounts, investment portfolios, or credit card debt, knowing what you have and what you owe gives you a clear picture of your current financial reality.

How to get started: A simple spreadsheet can help organize this information. If you're unsure where to start, free apps like Mint or EveryDollar can simplify the process by automatically tracking your accounts. 

Why Live In Debt Spreadsheet: I find that a good old fashion spreadsheet is the most effective way to track your finances and progress. They are a little more manual but that is a good thing because you spend more time with your finances so you really get to know them, and feel the pain of where you have been, and the dopamine rush as you see your progress and wins before your very eyes.

MONEY MINUTE
Quick Tips for Financial Freedom:

Unsubscribe from retail emails: Reduce temptation to impulse buy by unsubscribing from store newsletters and marketing emails.

Get a spot on my calendar by clicking this link.
https://whyliveindebt.com/freeconsult 

BOOK RECOMMENDATIONS
Breadcrumbs to Financial Freedom:

Give Breadcrumbs to Financial Freedom as a holiday gift and give the gift of financial freedom.

Breadcrumbs to Financial Freedom" is your go-to guide for getting out of debt, building real wealth, and finally achieving financial independence. If you've ever felt stressed or stuck when it comes to managing your money, this book will walk you through simple, practical steps and help you shift your mindset so you can take control of your finances and turn things around.

✅ Eliminate Debt: Learn proven strategies to pay off your debts and achieve financial freedom.
✅ Build Wealth: Discover how to grow your savings and investments for long-term financial security.
✅ Improve Money Management: Gain practical tips for budgeting, saving, and spending wisely.

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