Divorce Financial – 4 Possible Scenarios for the Impact of a Divorce on Your Careers and Finances
A divorce will impact every area of your life, including your career and finances. The ways to cope with your career (or lack of it) will depend on your current situation.
1. You are working and financially independent from your spouse.
You’re working and satisfied with your current job (as well as its salary). Well, kudos to you, because you will be the least adversely impacted by your divorce. In spite of your divorce, you will continue earning your own independent income and need not worry about putting food on the table for yourself and any children. Survival won’t be dependent on your spouse’s generosity.
Nonetheless, a divorce will affect your work. This is because any divorce is at worst bitterly contested and deeply distressing, and at best taxing on your time and resources. Emotional backlash from your divorce may overflow and impact your performance in the workplace. Some divorcees may overwork or others may become unmotivated. To mitigate the negative effect of divorce on your career, be sure to compartmentalise your emotions and keep focus when in the workplace.
2. You are working and partially financially dependent on your spouse.
If you’re working and still partially financially dependent on your spouse, don’t worry because at least you can work on improving your financial stability throughout and after the divorce process. With some of your own income, you will find it easier to build a life outside of your marriage.
To optimise your working potential, turn your emotions towards your failed marriage and divorce into positive energy and motivation for furthering your career. As you’re now less obliged to spend time with your spouse during the divorce process, you can now dedicate more time towards improving your work efficiency or learning some new skills.
3. You are a housewife or house-husband.
Mental preparation to re-enter the workforce is key in this scenario (unless you are bankrolled by someone wealthy or have enough savings to last you a lifetime). Self-doubt is natural after an extended period of not working. As long as you remember not to be overly critical towards yourself, you should be able to set achievable goals and take baby steps towards achieving them. Negativity should be rejected in favour of taking action to brush up your skills and slowly regain your confidence.
Although you could be tempted into starting a business for the flexible hours, entrepreneurship is unadvisable at the very beginning unless you have prior experience. Instead, you should retool yourself by going back to school to take courses on marketable skills such as coding. Subsequently, this could lead to freelance work and an easier transition to a full-time job.
4. You are a foreigner with children.
Although you may be labelled a “single mother” and be given less support from the Government, financial aid will still be available to you through various avenues. In the beginning, more urgency is required in finding sources of income. In the midst of your divorce and job-seeking, you should draw on support from family, friends and even neighbours.
Ultimately, a divorce need not set back your career. In fact, with less responsibilities towards your former spouse, you can spend time on developing your career and exploring new horizons. After all, to many people who choose to stay unmarried, developing their career is no less satisfying than maintaining a marriage.