5 purchases not to make after a divorce: advice from personal finance consultants

That’s why it’s so important to track your spending: it’s the only way to move on to the next stage of life with a full wallet. Here’s what expenses to avoid to achieve this.

The intensity of emotions and stress levels increase when a couple with children divorces. Some people try to appease their sons and daughters or “drag” them to their side with gifts, and this is a big mistake.

“During a breakup, parents often try in every possible way to prove to the child that they love them, and that’s wonderful. But sometimes these attempts turn into gift-giving contests, where mother and father try to outdo each other by demonstrating their generosity. Remember, children value privacy and stability more than the most expensive toys, and don’t waste your money, says personal finance expert Jonathan Merry.

Many women decide to celebrate their divorce by updating their appearance, but Merry believes that spending on clothes, cosmetics and accessories is not a profitable investment. According to Jonathan, there’s nothing wrong with spending a little money on small changes, but emptying your wallet for a drastic transformation after a divorce isn’t a good idea.

Breakup is a major stressor, and it’s no surprise that we try to alleviate it in any way we can, including eating and entertaining. Mediator Amy Colton reminds you to carefully monitor your budget at such times: don’t eat in expensive restaurants and don’t invest in hobbies that involve large expenses – it’s better to wait until your life becomes stable again.

Maybe after a difficult divorce, you want a change of scenery. However, experts advise postponing expensive trips that could drain savings. “Consider more budget-friendly trips or vacations closer to home instead: it’s best to invest in big experiences when your financial routine is back in place,” says Amy.

Both men and women tend to show that they have everything in order by purchasing luxury items. The idea of ​​showing your ex that you’re now even better off than you were with him may seem very appealing, but Colton warns women against impulse purchases: They’ll only shake you emotionally at a time when taking care of yourself self is the most important.

Read also: How can you save if you don’t have enough money for anything? Methods that work

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