Finding economic stability after your divorce can be a challenging endeavor. Expenses like attorney’s fees, court fees, the splitting of assets, etc. may have added up and you may be unsure of your financial...
Starting a New Career After DivorceJune 27, 2017 - Financial Articles
You’ve been through a divorce, you’ve dealt with the emotional and practical implications… what’s next? Starting a new career following a divorce can actually be a great thing for a variety of reasons, which will be explored in this article.
WHY SHOULD I START A NEW CAREER?
It might be a necessity for you if you have found yourself struggling financially. You may have looked at your current earnings and come to the conclusion that your financial situation has now changed as the result of your divorce and you need a job with a higher income. A new career could push you into a new career with further possibilities and boost your financial prospects. Setting your sights on a new career can be a practical and proactive decision to take control of your finances. See here for further tips on how to survive financially after a divorce.
- Because you have the time
This might seem like an obvious reason, but if you now have the time and energy to focus on starting a new career – it is absolutely the time to do so. There may never be a time in your life again when you have the opportunity to completely start over with your career. Once your divorce is finalized, you may find that you have a lot of additional free time and energy that you can now use.
- To give yourself a new focus
Starting a new career is a great way of giving yourself new motivation. After a divorce, it is good to give yourself new goals to work towards. This s a great way of moving forward with your life, and finding independence following divorce. Channeling all of your energies into a new career is a constructive and positive endeavor.
WHAT NEW CAREER PATH SHOULD I FOLLOW?
There are several aspects to take into account when deciding on a new career path to take:
- Something you are passionate about
This is really important. The more passionate you are about the change, the more positive you will feel about it and the more likely you are to succeed. It is incredibly difficult to follow something through if you are not quite sure about it and if it is not something you are truly passionate about. Think about the areas of your life that you feel strongly about. Is it health and fitness? Education? Travel? Take the time to think this through thoroughly and do your research.
- A financially viable option
If you begin again with a new career, you will find yourself under immense stress if it doesn’t pay the bills. On top of being passionate about your new career, you need to make sure it’s a career change that you can afford to make. Consult a financial advisor if in doubt.
- Research your chosen new field
Make sure you really know what you are letting yourself in for. Do you have contacts within your new career field? Maybe you have friends in the industry? Make sure to reach out to them and discuss this career move. They will be able to give you invaluable insight into how you can make this career move and what their advice is. They might even be able to help you get your foot in the door.
- Ask yourself the right questions
– Is your new career path practical and achievable?
– Do you have the right/up to date qualifications?
– Do you know anyone who can help you make the transition?
– How much is this going to cost?
HOW TO FINANCIALLY PREPARE FOR A CAREER MOVE
- Know the costs
Starting a new career, especially if you are setting up your own business or if there is training involved, can be costly. Make sure you plan for these costs if you decide to go ahead with it.
- Make a financial plan
Make sure to plan ahead so you aren’t put into a difficult financial situation. Take into account your savings, your outgoings and how much this career change is initially going to cost you.
- How to raise funds
If you need to raise funds in order to afford a new career path, a great way of raising funds is by selling items that you no longer use or want. Selling jewelry – especially divorce related jewelry, such as your engagement ring – is not only a good way of raising funds, but of letting go of the past. While household items are perfectly suited to platforms such as eBay or Craigslist, diamonds, jewelry and luxury watches require working with specialists. If you are looking to sell your jewelry from a previous marriage, WP Diamonds offers a quick and safe selling process. Our jewelry experts can offer you a competitive price for your engagement ring or any other jewelry you wish to sell. Fill out our online form today to receive your free quote.