She Strengthens

Turning Divorce into a Financial Triumph

When a marriage ends, it can be a transformative experience that brings new opportunities for financial growth and independence. As someone who has personally turned my divorce into a financial success story, I can attest to the power of determination and a solid financial plan.

Reinventing Yourself

A recent study, “Building a Financial Fresh Start,” surveyed 1,700 women across the country and found that 44% of them saw their divorce as a chance to reinvent themselves. Dena L., a writer and accounting consultant from Minnesota, notes that divorce brings the “freedom to reinvent yourself at an older age, shedding beliefs and habits that no longer serve you.” This can include breaking free from money-related habits that may have held you back during your marriage.

Career Revitalization

For 27% of the women surveyed, their career became a key factor in achieving financial independence. Divorce can impact career choices in various ways, with some women choosing to stay in the same job, re-enter the workforce, switch jobs, go back to school, or even start their own business. Laurie Itkin, a Certified Divorce Financial Analyst, emphasizes that most women will need to re-enter the workforce or enhance their education and skills to maintain their standard of living after divorce.

Breaking Free from Financial Mistakes

21% of the women surveyed saw their divorce as an opportunity to break free from their ex’s financial mistakes. This can include taking control of finances that were previously managed by their partner. Jennifer G., a personal trainer and entrepreneur from New York, took charge of her finances after her divorce and refinanced her mortgage, reducing her payments by half.

Financial Education

8% of the women viewed their divorce as a chance to educate themselves about finances. This is crucial, as many women may not be aware of the financial assets they possess, such as their diamond engagement ring. Maggie A., a study participant from California, notes that she wants to be more knowledgeable about financial planning. By educating themselves, women can take control of their finances and make informed decisions about their future.

Empowering Yourself

In the end, it’s clear that divorce can be a catalyst for financial growth and independence. By reinventing themselves, focusing on their careers, breaking free from financial mistakes, and educating themselves, women can turn their divorce into a financial triumph. As Jennifer G. so aptly put it, “Staying in the dark after the divorce was not an option.”