The High Cost of Love: Why Having a Breakup Fund Matters
As I prepare to tie the knot with my partner, Peter, this November, I’m reminded of the significant impact our relationship has on our finances. Living together has made it clear how our individual spending and saving habits affect each other, especially when it comes to shared expenses like rent.
The Dark Side of Breakups: Unexpected Expenses
I can only imagine the financial stress that comes with a breakup, especially when it involves finding a new place to live. A recent article highlighted the importance of having a breakup fund, and I couldn’t agree more. The costs can add up quickly, as seen in this example:
- Waived concession fee: $5,125 (thankfully!)
- Portion of January rent: $500
- First and last month rent at new apartment: $1,800
- Movers: $400
- New dresser: $380
- Buying back shared furniture: $150
- City moving signs: $69
- Car registration change: $25
Total cost: $4,799
This Week’s Top Personal Finance Picks
1. The Surprising Benefits of Lifestyle Creep
While lifestyle creep can be detrimental to our finances, it can also be a positive force when managed correctly. Learn how to rebalance your spending habits to live a richer life.
2. Ditch the Traffic: Why Riding the Bus is Better than Driving
Tired of rush hour traffic? Discover the benefits of using public transportation, from reduced stress to increased productivity.
3. Time is Money: Why You Should Prioritize Your Time
Self-made millionaire Grant Sabatier shares his insights on the value of time, and why it’s more important than money.
4. Overcoming FOMO on Your Debt-Free Journey
Fear of missing out can be a major obstacle to achieving debt freedom. Learn how to address this spending trigger and stay on track.
5. The Immigrant’s Advantage in Building Wealth
Immigrants often bring a unique mindset to wealth building, avoiding debt and focusing on cash-based purchases. Discover how this approach can lead to financial success.
6. Debunking Myths About Women and Money
It’s time to shatter the stereotype that women are bad with money. Learn the truth behind this myth and how it affects our financial decisions.
7. The Breakup Fund: A Lifesaver in Times of Need
One woman’s story highlights the importance of having a breakup fund, which can provide financial security during a difficult time.
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