Financial Goals for Women Post Divorce

3 min read

These are seemingly simple goals, but overlooked by divorced women all the time.

What Women Should Think Post Divorce

There are so many ways to design your life post divorce as a female. One thing that needs to be done is to take an inventory of where you are at and where you want to be. If it has been a few months since the divorce, are you ready to spruce up your home? Are you ready to get out the running shoes and take a lap around the block? Have you thought about how important it is to take care of you during this time? Surely, it is important to think of the kids, but have you actually thought about what you want post divorce? Write out a list and then focus on one goal.

You may ask yourself what is a goal? It has been so long since you thought of yourself and your goals. Take a piece of paper and list out your thoughts.

Post Divorce Women’s Values

You may realize that your values have shifted. Some values that may have been important in the past are now not at all relevant. Take for example education. You may find that you are dreaming of going to school or want to take a course on poetry or pottery. These goals can be your long term goals. Education, Independence, Religion, Community, Charity Work. These are examples of some values you may want to think about for yourself. What about reading? Have you taken a moment to learn something new or get involved in a book club? What about the NY fashion show? Did you used to attend and still want to? Put Culture on your list as a top value. We can create these together if you do not know where to start.

Divorced Women Start Small Goals

Financial goals can start small. The first one could be as simple as ‘I will write out my list of bills and the due dates for next month’. Or, ‘I will track my spending all week to see how much I am actually taking out for the nannies and other staff’. Or, ‘I will make the most of my spousal support and focus on saving a percentage each month’. Or, ‘I will give something up so I can keep the yacht and various expenses that come with it.’

You may wonder how this relates to anything financial, if the goals are not finance related. Well, you have to have money for most everything. You being able to express your goals and then figure out a way to get them financially is the best way of looking at it.

Find your top values and reconfigure your goals around them. Focus on that main goal. Is it running a virtual 5k with your children in a few months? If it is, sign up for the 5k. That small financial purchase will be the stepping stone to you making the goal a reality. And it gives you something so much more fun to focus on rather than your ex.

Your finances may have changed post divorce, but your goals are now all about the new you. Make the most of it and take action by starting today on one of those goals.

Olivia Portrait

Written by Olivia Summerhill, CFP®, CDFA® of Summerhill Wealth Management. She is a Divorce Financial Planner helping high net worth women maintain their lifestyle and build wealth during and post divorce.

Schedule a conversation with her and see what she can do for you by clicking here.