Divorce and Career Change: Relocating for a New Job Opportunity
The intertwining of divorce and career change presents a unique intersection of personal and professional decisions. Both can mark the beginning of a fresh start. But how does one navigate these two vast life shifts simultaneously? Let’s find out!
The Emotional Tug-of-War: Divorce, Career Change, and Finding Balance
Amid life’s uncertainties, divorce and career change stand out as two of the most challenging experiences one might face. Both demand significant emotional energy, often pulling us in opposing directions. On the one hand, a divorce, with its end of familiar patterns, can usher in feelings of loss, making it essential to find ways to cope with loneliness after your divorce. On the other hand, a career change, while opening doors to new opportunities, introduces its own set of anxieties and uncertainties.
Navigating a new job amidst a divorce becomes even more daunting without support and empathy from your former partner.
So, how do we find balance in this emotional tug-of-war? As we delve deeper into the intricacies of managing these simultaneous transitions, it’s essential to equip ourselves with strategies and insights. The journey ahead will touch on financial considerations, the challenges surrounding children and relocation, and the importance of building a support system. Through it all, understanding and addressing our emotional well-being remains paramount. After all, achieving a successful transition in both areas begins with a clear, focused, and resilient mind.
Strategizing Your Future: Job Opportunities and Financial Preparations
Life transitions, like divorce and career change, can sometimes create a fog around our decision-making processes. In this fog, assessing new job opportunities demands clarity and strategic foresight, ensuring that these decisions align with our long-term life goals. Here’s what you should consider!
Evaluating the Right Fit
- Deeply analyze the tasks and roles associated with a job. Does it match your skills, and more importantly, will it bring you satisfaction?
- Ensure that the ethos of the company aligns with your personal values. A cultural fit can significantly impact your job satisfaction and overall well-being.
Seeking External Perspectives
- Leverage the experience of seasoned professionals in your field. Their insights can help you spot red flags or potentials you might miss.
- Professional counselors can provide a holistic view, aiding in both emotional and strategic aspects of your career transition.
Financial Footing Post-Divorce
- Beyond the apparent costs of moving, there are hidden expenses in setting up a new life, which should be factored in.
- Balance the financial implications from your divorce, such as alimony or child support, with the new expenditures that come with job changes.
Children and Relocation
Decisions concerning our children often become the most emotionally charged in the vast spectrum of life’s changes. When merging the complexities of a divorce with the considerations of a career change, especially one that involves relocating, the well-being of children is paramount.
Weighing the Options
Relocating post-divorce, especially with children, brings with it a set of unique challenges. Every aspect needs evaluation, whether it’s the potential disruption in their academic life or the emotional toll of leaving familiar surroundings and friends.
The decision to move with or without the children demands in-depth introspection, considering both the immediate and long-term implications on their well-being. Also, make sure to take their thoughts into account when you’re making your decisions. That will make your kids feel valued and respected.
Custody Implications
The legal tapestry of divorce often intricately binds custody agreements. Engaging with your ex-spouse and legal professionals is crucial when contemplating relocation. Understanding and potentially renegotiating visitation rights, school arrangements, and other custody-related matters is vital.
Addressing Emotional Well-being
Much like adults, children will grapple with the whirlwind of emotions accompanying such transitions. Offering them a platform to express their fears, concerns, and hopes can make the journey smoother. Incorporating therapy or counseling can also provide them with tools to cope and adapt.
Coping Mechanisms and Adaptation
Life is a constant ebb and flow of experiences, and among them, both divorce and a career change stand as monumental shifts. These changes, particularly when experienced simultaneously, can feel like navigating a stormy sea. Building resilience and learning to adapt become invaluable skills, ensuring that you emerge stronger and more centered as you redefine your path.
During a divorce and career change, prioritizing personal well-being is essential for balance.
Embracing the Process
Change, despite its inherent challenges, is also an avenue for growth. We can harness the potential they bring by framing these transitions as opportunities rather than setbacks. Furthermore, recognizing when to get help moving on after divorce or seeking career counseling can accelerate the adaptation process.
Self-Care
Our mental and emotional well-being is the foundation upon which all other aspects of life are built. In times of upheaval, prioritizing self-care is paramount. This can manifest in various forms, from indulging in hobbies, seeking therapy, meditation, or simply allowing oneself the time and space to heal and reflect.
Seeking Support and Guidance
No journey is meant to be undertaken alone. Whether it’s friends, family, or professional counselors, surrounding oneself with a supportive network can make the difference between floundering and flourishing amidst life’s changes. Think about reaching out to support groups and communities, as it fosters a sense of belonging, too. Remember, vulnerability in seeking guidance is often a testament to strength.
Legal Considerations
In personal and professional upheavals, divorce and relocation’s legal framework can often seem like a labyrinth. Yet, understanding this legal tapestry is crucial, ensuring that decisions are emotionally and financially sound and legally binding. Knowledge of the laws can be both a shield and a compass, guiding one’s steps confidently through these transitions.
Custody Laws
Navigating the complexities of child custody becomes even more intricate when contemplating a move, especially if you’re moving to a new state. Familiarizing oneself with existing custody agreements and any potential laws related to relocation is essential to prevent unintentional legal violations.
Seeking Legal Counsel
It’s always wise to consult an attorney when considering significant life changes. They can shed light on potential modifications to your divorce agreement, ensuring you’re well-informed and protected as you transition into your new phase of life. 
It’s imperative to consult legal counsel, ensuring that both your and your children’s rights and interests are safeguarded.
The New Dawn: A Fresh Start after Divorce and Career Change
Both divorce and career change symbolize endings and beginnings. Navigating both might be challenging, but the right strategies and a positive mindset can lead to an exciting new chapter in life.
Explore the challenges and strategies of navigating divorce and career change, particularly when considering moving for new job opportunities.
Author’s bio: Alexa Johnson is a content editor at Zapt Movers California, with a keen interest in personal transitions and new beginnings. With years of experience in crafting content, Alexa offers insightful perspectives on life’s major shifts.
Real Estate Industry 2021: What Can the Sector Look Forward to? Is the Worst Behind Us?
Real Estate Industry 2021: What Can the Sector Look Forward to? What Is The Next Real Estate Hurdle or Milestone?
Description: What can be expected in 2021 for the latest real estate marketing trends? Will the price of homes rise or fall? Will mortgage rates remain at historic lows or rise as the economy improves? What lasting impacts could Covid-19 have on the housing market in 2021?
Introduction
The year 2020 left many people reeling after losing their homes. Others were left looking over their shoulder, worried about the future of real estate. It makes a person wonder, “With what happened to homeowners and renters in 2020, what is the future of real estate in 2021? Will the housing bubble burst just as it did in 2008, or will it defy expectations?
Impact of COVID-19 and lockdown
Covid-19 put the brakes on housing sales across the country at the beginning of 2020. Many states instituted stay-at-home orders, and closed many businesses deemed “non-essential”, effectively halting home selling for a time. People were furloughed or laid off from their jobs, thereby cutting off their supply of income and affecting their ability to buy homes or pay mortgages on existing homes. But then, against all odds, real estate started going through the roof again in 2020. Once the real estate market started picking up again, the demographics and reasons for home-buying changed. More young people are looking for homes than ever before. More people are working remotely out of their home offices as employers and employees adjust to a new “pandemic normal”.
What will happen with housing prices?
Strange but true, housing sales and mortgages seem to be running counter to the rising number of foreclosures and evictions many Americans are facing. 2021 housing market predictions indicate that home sales will continue to rise. Real estate website Zillow predicts that sales will rise a total of nearly 22% over the course of the year 2021. That would be the biggest housing sale increase since the early 1980’s. Prices are also expected to increase an average of three percent, according to the National Association of Realtors. The average median price will have an expected going rate of just under $350,000.
Will mortgage rates remain low or rise?
Mortgage rates are expected to keep pace with the housing demand in this seller’s market, but still should remain surprisingly low. As of February 4th, a 30-year fixed rate mortgage rose to 3.11%. Rates are expected to stay in the high 2% to low 3% range, with Fannie Mae predicting an average of 2.8% for home mortgages.
Challenges ahead
There are several challenges ahead in this age of Covid-19. Sellers must find creative ways to sell their properties and stay on top of the latest real estate marketing trends. Several states remain under or have reinstituted Covid-19 protocols, including shutting or restricting how businesses operate, including realtors. People in a position to buy a home are looking at the challenges of rising home prices and figuring out how to afford them. Relatively low mortgage rates may offset the expense of a home purchase. However, prices of new and existing homes are not expected to drop anytime soon in this seller’s market. Also, if interest rates rise, sellers could look at their homes being on the market longer. Higher rates would contribute to the overall cost of a home in a dwindling supply market. And lastly, as 2020 taught everyone, circumstances can change in an instant. Prolonged economic woes could impact both buyers and sellers if current circumstances continue.
What the Government is doing for the housing market
The government is trying to stabilize the housing market by helping those at risk of losing their homes. The CARES Act freezes mortgage payments for those claiming hardship due to Covid-19. Several things have been done since the new administration stepped in, to help stem the real estate crisis. One of the first things President Biden did after taking office was to ask federal entities to extend eviction and foreclosure moratoriums. And the following are also being proposed as part of the President’s $1.9 trillion dollar Covid-19 relief plan:
- Extending the aforementioned moratoriums through the end of fiscal year 2021
- Provide $30 billion for emergency housing & rental assistance
- Funding legal assistance for people facing losing their homes
How to navigate the next real estate challenges
Aside from the federal government extending moratoriums & loan forbearance s, there are other ways to stabilize the market and stop the next real estate crash. Consumer advocate David Ramsey suggests these steps for buyers and sellers:
For buyers:
- Go for a 15% fixed rate mortgage.
- Limit your housing payment to no more than a quarter of your total expenses.
- Do not go for zero-down payment loan; put down 10% to 20% of the total purchase price.
- Do your research on different mortgage lenders.
For sellers:
- Look at nontraditional options for selling homes, including third-party sellers and online showing options
- Have a game plan for after the home is sold.
Conclusion
So, what is the future of real estate? It will continue to be a sellers’ market in 2021, albeit at a slower pace than 2020. Even with historically low mortgage rates, buyers still face challenges with rising home prices as demand outstrips supply. Some of the real estate facts for sellers are that they may be in the driver’s seat at the moment. But they shouldn’t count on things lasting forever. That’s especially true if Covid-19 continues to impact job and financial markets worldwide through shutdowns and various restrictions. However, with careful planning on buyers’ and sellers’ sides, America can continue to ride the housing wave in the coming years while contributing to its stability.
Author Yuriy Moshes is the CEO of Moshes Law and attorney with broad expertise. He has two bachelor’s degrees. Being an experienced expert, he is considered one of the most in-demand specialists in the personal injury law field
How to Recover Financially After Divorce?
Divorce has an impact on many elements of your life, including your emotions and finances. It might have an effect not only on your disposable income but also on your credit and other assets. Use these five tips to improve your finances after your divorce.
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Examine Your Credit
When going through a divorce, one of the first activities you should do is get a credit record from one of the main credit reporting agencies. Obtaining a credit report and determining your credit score may appear to be a daunting undertaking, but it will only benefit you in the long run. In addition, this can assist you to figure out how much effort you’ll need to accomplish to recover.
Severing financial connections with your spouse can significantly impact your credit, but fortunately, rebuilding your credit can be rather simple. Paying off any outstanding debts and making sure your payments are paid on time are the two simplest strategies to improve your credit. In addition, you should aim for a credit score of at least 700, as this will allow you to obtain loans and credit cards without paying excessive interest rates. Lenders view you as less risky if you have a better credit score.
- Make a Budget
Setting a budget is one of the initial things you should do after finalising your divorce. Most of the time, you’re going from a two-income to a single-income household. Salary disparities can have a major influence on your discretionary money. Setting a budget is a simple process that can have a significant impact on your overall economic well-being.
To start, write a list of all your costs, whether they are basic necessities such as electricity and housing or alimony and child support. Then, each month, you should keep a detailed record of all your recurrent spending. After you’ve outlined all of your costs, figure out how much money you’ll need to cover them all.
The next stage in constructing the perfect budget is to figure out how much money you make each month. Now, take your total revenue and subtract your total costs; the remaining money should be divided in half. Half of your money should go into savings accounts, while the other half can be utilised for fun or other non-essential purchases. This can help you turn your financial condition around on its own. In addition, having sums set aside for monthly costs and savings will help you avoid overspending.
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Identifying Your Assets and Transferring Them Into Your Name
Identifying your assets is a critical step in the process of divorce. Trying to figure out what comes to you, what belongs to your spouse, and what belongs to both of you might appear to be a difficult task. However, depending on the state you live in, it is actually quite straightforward.
First, determine if the assets were purchased using individual or shared funds. Anything purchased with a personal credit card or cash belongs to the individuals. The tricky part is making joint purchases. In most cases, combined purchases include houses and other large-cost products.
Fortunately, the Court will assist you in determining who receives whose assets. Once you’ve determined which assets are yours, it’s critical to transfer them into your own name. Your net worth is directly affected by your assets, which might help you qualify for other forms of financial assistance in the future, such as private lines of credit.
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Close shared accounts and open new ones in your name.
The next stage in cutting financial ties with your ex-partner is to shut joint banking accounts and create new accounts with your own name, which is similar to splitting and shifting assets into your own. This will not only assist you in cutting financial links with each other, but it will also assist you in protecting your money during the process of divorce. When creating new bank accounts, make sure to send this information to your divorce lawyer to protect the safety of your funds.
Ensure you do your study on banks to guarantee you’re getting the most value for the money. Each bank has its own set of benefits and drawbacks. Banks with no fees are something you should seek for. Some banks even go so far as to waive credit checks in order to give you a second opportunity at banking. As already stated, divorce may negatively influence your credit, so finding a bank that offers a second opportunity at banking can be quite useful in decreasing financial stress.
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Make a safety net or an emergency fund.
Finally, once you’ve created your own accounts, it’s a good idea to set aside money for a safety net or an emergency fund. We recommend that you open a second savings account at a different bank and have a percentage of your paycheck put directly into it. Opening a bank account at a different bank makes it significantly more difficult to get your money; this reduces the incentive to use it. It doesn’t have to be a significant sum of money, but simply putting away $10 to $20 per paycheck will assist ensure that you have some funds set aside for “just in case” situations.
With the stress of divorce, it may be very tempting to neglect the small things in life, such as your financial well-being. However, financial stress is unavoidable after a divorce, but several options and services are available to assist you in getting back on track and improving your financial health. We hope you find these money-saving suggestions useful and that you recover soon once your divorce is finalised.
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Suppose you find yourself at the crossing point of separation and divorce later in life. In that case, it is critical to seek the best advice from the Divorce Lawyers Gold Coast, who can help you navigate that new path and safeguard your financial and emotional well-being as you enter the best years of your life and start riding into the sunset. Working with a qualified Lawyer Gold Coast. can also allow you to settle your divorce finances without having to go to court saving you a lot of money and mental distress.
5 Steps to Entrepreneurship for Stay-at-Home Moms
For single, recently divorced mothers, figuring out how to balance work with childcare is challenging. Maybe it’s time to consider starting your own home-based business. And with a little support from Wendi of Global Guide to Divorce, you’ll feel confident about becoming a “mompreneur!” If you’re interested in opening a home-based business, these tips will help you in every step of the process.
Come Up With a Business Idea
Naturally, deciding on your business idea should be the first item on your to-do list! Frugal Budgeter recommends thinking about possibilities like becoming a bookkeeper, a proofreader, a social media manager, or even selling arts and crafts.
You’ll also need to decide how you want to price your products or services. To determine how much you’ll charge, consider your own fixed expenses, the cost of any materials you’ll need, and what your time is worth based on your previous income from W2 jobs.
Hire Freelance Help
As a business owner and stay-at-home single mom, you’re inevitably going to have a lot on your plate — but you don’t have to handle all of your entrepreneurial responsibilities on your own! Instead, you can hire freelance experts for help.
For instance, you could work with a freelance web designer to set up your company website or a social media manager to outline a digital marketing plan. And rather than trying to design a logo on your own, you can hire a graphic designer — to illustrate, freelance graphic designer pricing is approximately between $15 and $35 per hour. To find a graphic designer (or any other freelancer, for that matter), you can browse online job platforms and check out reviews, estimated delivery times, and rates before hiring someone.
What if you also need support navigating your divorce and getting back on your feet? You can turn to Wendi Global Guide for Divorce for coaching!
Start Networking
Now, you’re ready to work with your first clients or customers! But how can you land those initial sales? The secret is networking. As a new entrepreneur, you need to get the word out about your business! Startup Nation recommends joining groups with other professionals in your industry. If attending networking events in person with your kids in tow would be tough, you can connect with virtual groups instead.
Working From Home With Kids
When you’re running a business and raising a family at the same time, it’s easy to feel overwhelmed. To stay productive while working from home with your kids, Healthline recommends picking out a few quieter activities that your kids can do during the workday, sticking to a regular schedule for the household, and aiming to get more work finished while the kids are napping. If your kids spend time with their other parent as part of your custody agreement, you can also plan to get extra work done during those days. Hiring a babysitter on your busiest days is also an option.
Bring an Assistant on Board
If you need a hand with your business, you may want to hire a virtual assistant to help you stay on top of everything you need to do, freeing up more time for you to spend with your kids! To find a reliable assistant, you should look for someone who has fantastic attention to detail, the ability to multitask effectively, great writing skills, and basic accounting skills.
After a divorce, it can take some time to move forward in your personal and professional life. If you’re staying home with your children for the foreseeable future, starting your own business can give you a new goal and a sense of fulfillment. With these tips, you’ll be prepared to succeed as a “mompreneur!”
Are you trying to navigate life after a divorce? You’re not alone, and the resources from Global Guide to Divorce can help you make it through. Reach out to Wendi for a coaching session today.
Author Kelli Brewer is proud of her military family and is passionate in supporting military families. Together with her husband, they created DeployCare to offer understanding and support to our service members and their families before, during, and after deployments.
What are Some Common Financial Mistakes Made During a Divorce?
A divorce is usually a time of great instability. Almost everyone involved in the process is said to go through a tremendous personal change to come out as a different person at the other end.
Amid the emotional crisis and the ensuing paperwork, it is customary to forget to take care of some crucial details, especially when it comes to finances.
Throughout the marriage, you and your spouse must have made financial investments together. It is not always obvious how to share these assets equitably.
Decisions made in the heat of the moment without considering your future income and expenditure can have lasting implications. Here are some of the most common financial mistakes spouses make during a divorce, and how to avoid them. It is best to discuss these with a qualified professional such as a divorce attorney for detailed info.
Not Keeping an Eye on Joint & Individual Finances
This is not a healthy marital practice. Always calculate how much you and your spouse have invested financially in the marriage by all parameters such as a personal source of income, joint expenditure, investments, and so on.
If you let the other person handle this, it will put you at an unfair advantage. In a worst-case scenario, you might miss out on calculating assets that your spouse has kept hidden, which is illegal.
You are entitled to your ex’s employer-funded pensions and investments. Work benefits, company shares, and 401(k)s are all subject to division. Remember to include your spouse’s investments when predicting and calculating your earnings from the divorce.
Underestimating your Expenditure Post-divorce
Since you’ve yet to experience a life without your partner, you might overlook aspects such as a fall in overall income and an increase in personal spending after divorce. Make sure you calculate these factors beforehand, preferably with the help of a divorce lawyer.
Your calculations should include the current standard of living, future inflation, and insurance premiums. Both you and your spouse should also consider your cost of living during the divorce period itself, which sometimes takes months from the date of separation.
Assuming Equal Division is Fair by Default
Equal doesn’t always mean equitable. The value of some assets, such as property or bonds, can increase more than their market value in time. Hence, fair sharing of property should be based on its expected monetary value.
Beth W. Barbosa, divorce attorney at a prominent divorce and family law firm in Edina, Minnesota, can assist in this breakdown of assets and their value.
Splitting the house itself can be a tricky one. If you choose to keep the house for emotional reasons, know that financial returns on the house vary greatly depending on external circumstances. What seemed like a good idea might end up costing you a lot more in terms of the mortgage, maintenance, and property tax.
Not Filing Proper Paperwork
A Qualified Domestic Relations Order (QDRO) is legal proof of how you and your spouse would divide a contribution plan, such as a 401(k), 403(b), 457 plans, or a pension plan. Even your spouse’s employer is legally bound to pay you the share agreed upon in the document. Don’t forget to fill it up at the time of the settlement.
Ignoring Tax Liabilities, Debts
Certain assets come with tax liabilities after settlement. For example, the alimony tax distributed over time might be more than the tax deducted on a lump sum. Always go by the value of an investment after removing tax liability. The same goes for debts such as credit card debt and bank loans. Obligations taken together during the marriage should be considered while sharing.
Seeking Bad Legal Counsel
Choosing the right divorce attorney can save you from a lot of stress and burden, but not every type of lawyer suits everyone. Find a lawyer who understands your needs. Someone not too aggressive to cause further friction between parties. A lawyer who can find a resolution in the shortest time possible, thereby reducing the cost of litigation fees. A good lawyer can also mediate a compromise between parties without involving the courts, saving a lot of time and money.
Author Bio: Beth W. Barbosa is a family law attorney in Edina, Minnesota who represents family law clients in the seven-county metro area. With over 20 years of high-profile experience as a family law attorney, Beth W. Barbosa focuses on high-asset divorces, gray divorces, child custody, co-parenting, and more.
Beth W. Barbosa is a knowledgeable estate planning lawyer to guide you through this complicated process. Beth aims to be there for her clients to take some of the stress and confusion out of family law proceedings.
With over 20 years of experience as a divorce attorney, Beth Barbosa can provide you with reliable, unique, and innovative solutions to your family law issues. Regardless of the details of a specific case, Beth ensures that you and your spouse move forward with grace and dignity after the proceeding’s conclusion. Resolve your financial issues with Beth today and take time to heal without worry.
What is the impact of the lockdown on Personal Injury Claims?
As we arrive in 2020, few of us might have expected that COVID-19 will wipe the world as fast as it has done, and that it would have such a serious effect on many.
The lockdown has affected everybody in many different ways across all walks of life. In the world of personal injury COVID-19 has undoubtedly brought about slower progress across the landscape of litigation in general.
While the number of new claimants has slipped around the board, we expect an explosion of claimants that would emerge from the pandemic.
While personal injury cases are still reported and those that were filed before COVID-19 are making significant progress, this scenario is affected by several obstacles.
Personal Injury Lawyers provides some of the ways the COVID-19 could impact personal injury claims:
- Delays in medical treatment
It is necessary for us to seek prompt medical attention anytime someone is involved in a car crash or suffers some other form of personal injury. Therefore, it is always important to obey the guidance of those who concern for you, which involves attending all of your follow-up appointments and following them along with diagnoses and procedures as directed by the doctor.
You have a legal responsibility to prevent your losses if you file a personal injury claim, which means doing something that healthcare experts advise to recover or achieve maximum health care improvement. You will also need to have paperwork showing the full magnitude of your injury issues to recover your reasonable and true compensation.
The Coronavirus epidemic has posed a range of problems in terms of medical care for victims of personal injury. Firstly, people are naturally anxious about visiting a doctor who is infected with COVID-19. This can result in them wasting precious consultations and not getting the treatment they need to get onto the road to recovery.
Please note that all the appropriate steps are taken by the open clinics and hospitals to ensure that patients are healthy, and the danger is very small compared to the risk of failure to obey up on the care Protocol.
- Restricted access to court cases
Court hearings in all federal courts are put on hold until the pandemic subsides. Non-jury trials were allowed to proceed, at the judge’s discretion, with only attorneys, their clients and extremely important witnesses in a position situation can appear.
In some cases, videoconferencing is also used for pretrial hearings and other gatherings. How all that adds up to is that you should face substantial delays in the process, should you lodge a personal injury case.
However, there are drawbacks that video conferencing will not be suitable in every situation. It may also be particularly difficult to use video conferencing in the sense of psychological disorders where the injured party still feels depressed and may not feel comfortable talking about such sensitive issues via a video link.
We can feel awkward doing so at home, during lockout, in household with other family members, kids etc.
- Pressure to Settle down Quickly
Personal injury claimants are likely to face greater pressure to resolve their lawsuits due to delays in the trial and stricter finances. With the chance to wait several months for a jury trial, many people will now be tempted to take the money.
Insurance providers are now mindful of this, and would definitely benefit from the situation. An insurer intends to pay out as little as possible on a claim for an accident and give a lowball deal to a patient realizing other people need the money immediately.
Those most seriously affected would-be plaintiffs who have no legal assistance since most are untrained with the procedure or traditional techniques of compensation used to mitigate a lawsuit’s costs.
- Insurance compensates lapses:
Owing to the deepening recession certain drivers might not keep up with paying their insurance premiums. That may contribute to the lack of evidence that could exacerbate the condition of a victim following a traffic crash.
A rider injured by an uninsured vehicle may not be able to take out insurance from the estate of the driver.
Their only option may be to obtain cover from their insurer in spite of their uninsured motorist scheme
A defendant must keep in mind that their trustee is an unfavourable party in these proceedings and will definitely not resolve a lawsuit without challenge. First-party claims can be as contentious as third-party lawsuits, and assistance from an attorney can be nearly as necessary.
- Impact on Employment
COVID-19 has, and will continue to have, impact on the work force. In certain cases, this could help to reduce the value of claimants not only in terms of demand for wage loss but also in terms of knock-on impact.
There will be problems of sick leave, unemployment and other cost-cutting steps to be addressed, such as wage cuts, pay freezes and unpaid leave. It will also require professional evidence to consider the medium to long-term impact on whichever sector of employment a pursuer works in.
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Mitchell is an experienced personal injury lawyer in Gold Coast. He is a Senior Associate and was admitted to the Queensland Supreme Court in December 2012.
Saving Money Using the 30 Day Rule
There are those times that you might just be browsing and see a beautiful dress or cute shoes. Or maybe you were on Facebook and saw a deal that seems too good to ignore. In such circumstances, it is very tempting to make an impulse purchase. The extent to which impulse purchases hurts a person’s budget depends on how frequently they make impulse purchases, their income, and monthly expenses, and the cost of the items that they buy.
If your budget gives you room for impulsive buying, then you have nothing to worry about. However, if you are looking for ways to control your impulsive buying so that you can use the money on other things such as paying down a bad debt or saving for something that you really need. In such a situation, the 30-day rule will be an excellent budgeting tool.
What Is The 30 Day Rule?
The 30-day rule is a method of saving money by delaying your gratification. This money-saving technique is meant to help a person make better spending decisions by stopping them from impulse buying. When using this technique, a person is needed to be rational when they feel the urge to spend.
When using this rule, you are required to give yourself at least 30 days before making a purchase, even if you have enough savings to buy it.
How It Works
It can be tempting to buy an item right away, especially if a salesperson tells you that it is a limited edition or a limited stock. On the other hand, when using the 30-day rule, you will be required to follow the steps below before purchasing the item.
- Please take note of the item, for instance, its cost, specifications, details then leave the store. You should also add the date that you found that item and indicate if the store was offering a discount on it.
- After noting all the details about the item, place the note where you can see it when you get home.
- For the next 30 days, think if you need that item and if it is worth the price,
- Look for alternatives to those products and find out if there are better deals in other stores.
If you still need the item after the 30 days, you can go ahead and purchase it. When buying it, you are only required to purchase it with your debit account or cash. You are prohibited from using your credit card unless the cars have a good deal such as mileage points or zero interest. If you use a credit card to make the purchase, you should be able to repay the amount with each billing cycle.
How to Stop Impulse Buying
To curb impulse buying, you should avoid shopping when you are stressed or angry. Most people do unhealthy things when they are angry, to make themselves feel better. Shopping is one of those things, and it can get expensive or out of control. You can find healthier hobbies such as yoga whenever you feel angry instead of going shopping.
Do not fall for checkout lane or “end caps” on items. An end cap in retail marketing is the display on products that stores want buyers to purchase on impulse. You now know better and can avoid that.
You should also avoid going shopping with shopaholics. If you have friends that have the habit of impulse buying, it can be easy for them to convince you that the 5 pairs of shoes and 7 dresses that you tried on looks perfect on you and you should buy all of them. A little flattery will go all the way, therefore, if you have to shop socially, consider bringing friends who have frugal spending habits.
It is also recommended that you use cash instead of credit cards. Credit cards give a person an easy way to buy things on impulse. These cards charge high-interest rates. Therefore you should limit yourself to buying items only using cash. Also, buy items that have a return policy. This is because after purchasing an item, you could rethink your decision and find yourself wanting to return it.
In Addition to the 30-Day Rule, Here Are Other Ways on How to Save Money In U.K
- Practice the 24-Hour Rule.
This is like the 30-day saving challenge, but it is used in less expensive purchases. In this rule, you are required to wait for 24 hours to 42 hours before making a purchase. This will help you to differentiate between a want and a need.
- Do Not Spend Too Much Entertaining Your Kids
Most young children can be entertained cheaply. You can play with them, plant a garden, play in the backyard, teach them how to ride a bike, or buy them a newspaper and let them be creative with it. Have in mind that a child prefers to spend quality time with you other than getting them stuff and you will have more money to save.
- Invite Your Friends to Come Over Instead of Going Out
Going out with your friends can destroy your entertainment and food budget at a go. No matter the circumstance, it would be cheaper to invite your friends over and find ways of entertaining yourself. After inviting your friends over, you can choose activities such as playing cards, watching movies, sitting around the fire pit, or other activities that can save you money.
- Lower Utility Bills
Evaluate if you are conserving and utilizing your utilities to the maximum. Some tips such as unplugging appliances that are not in use, insulating your windows, or turning off the faucet when brushing your teeth can be simple ways of lowering your utility bills.
- Avoid Fast Food and Convenience Foods
Instead of getting pre-packaged dinner or eating fast food, you can make simple and healthy food at home that you can carry with you. An hour’s worth of preparing the meal can end up saving you a lot in the long run. In cases where you have to dine out, maximise your savings using coupons or reward credit cards that give you a bonus for spending in a restaurant.
Article is written by Loanza blog.loanza.co.uk/
Teaching Your Kids Discipline Through A Savings Account
One of the major pillars of developing teenage independence is to have financial independence. In most cases, children will likely never become financially independent while living at home, since there is no real pressing need. However, that will not always be the case.
So, unless you want your children moving back in with you after college because they can’t manage their finances well enough to support themselves, it is critical that they learn discipline when it comes to their money—and it can all start with learning to save.
Learning To Save An Allowance
For most children, saving money can’t really begin until they have some sort of steady income. Otherwise, it can be difficult to persuade them that they should save whatever money they may receive on their birthdays and Christmas. Since I personally don’t believe in paying for regular house chores, my wife and I have opted to give our children an allowance starting when they are five years old.
I’m not saying spoil your children with an unrealistic allowance, as it is far more likely to develop a sense of narcissism in your teen. Instead, you can try something similar to what our family does, which is the amount they receive is a dollar for how many years old they are. So, my seventeen-year-old daughter receives $17 a week while my ten-year-old son receives $10. As the system is based on their ages, it helps my children feel like it is fairer that they don’t receive the same amount of money.
With the steady “income stream” of a weekly allowance established, it can be far easier to help children learn to save.
Helping Children Set Savings Goals
Even for myself, having a goal to save toward makes it far easier to save my money. For us adults, these goals may look like saving for retirement or for a desired home upgrade. But children often have different goals they consider important.
So, no matter if you wish you had started saving for retirement as a teenager, it is not very likely that saving for retirement in 50-60 years will really appeal to your child. And without your kid’s buy-in, the goal will likely be a failure.
Instead of pushing your money-saving goals onto your children, help them set their own savings goals. Some ideas you may want to offer to kickstart their thinking are:
- Saving up for a high-end toy or game
- Putting away money for their first car
- Set aside money to spend when out with friends
- Saving for a trip or experience
As you can see, some of these money saving goals can span a shorter time period. But that’s okay. In fact, it is a fairly realistic look at how most adults spend their money. The important thing is that you don’t just step in and give them the money to reach their savings goals.
Allowing Self-Directed Savings Provide Discipline
For example, my oldest daughter liked to buy snacks at school with her allowance, then mall crawl on the weekends. She managed to hold onto enough of her allowance until her weekend mall time, until one week, she was completely out of money to spend.
Naturally, in her mind, I would provide more, but to her surprise, I told her no. Rather than have her learn later in life when it was a bill she couldn’t pay, my daughter went with her friends to the mall but felt the sting of being left out of buying a new accessory and food court fare. That, far more than anything I could have said or lectured, taught her the importance of saving her money.
If you want to help your children save more proactively for the long-term, there are several great kids’ savings account options. All of my children have a savings account with their own long-term savings goals that they determined.
Much of what we teach our children involves practicing lifelong self-care, from learning self-discipline to saving for the future. As you go about teaching your children to save their money, I recommend you keep in mind that learning to be independent and self-sufficient is a lifelong process. It may be frustrating for you and your children at times to practice these techniques of self-care, but it can also be ultimately rewarding.
Author of this article, Tyler Jacobson, enjoys going to the mountains near his home in Draper, Utah to connect with his wife and children through camping, hiking, and quality time together. When he isn’t rebooting in the outdoors, he shares his fatherly experiences with the world through writing and creative work. Tyler shares the ups and downs of family life and the solutions he’s found through lengthy research and involvement in the industry and his own experiences to help parents everywhere. Follow Tyler on: Twitter
Real Estate Today: It’s a Women’s Market
Home sales remain strong through much of the country, and single women are, in part, to thank for the housing boom. According to CNBC, unmatched maidens are more than twice as likely to buy a house as their brothers, uncles, and male friends. If you’re a lone lady ready to take on the responsibility of homeownership, keep reading for things you should consider, including how to evaluate your finances and ways to ease the burden of moving day.
Checks and Balances
Your first and most important task when entering the real estate market for the first time is to know what you can afford. There are a number of factors that determine your future home’s value, including your income, outstanding debt, credit score, and current monthly expenses. SmartAsset Smart Asset explains that a lower debt-to-income ratio may put you in a better position to qualify for a lower interest rate. Even if your credit isn’t perfect, there are still loans available if you have a FICO score of less than 600, although 620-plus will be required for a conventional loan. (Check your credit score at FreeCreditReport.com.)
Regardless of your income, assets, and liabilities, the vast majority of loan products require a down payment of between 3.5 percent and 20 percent of the home’s selling price. The higher the down payment, the lower the mortgage. If you’re purchasing a home after a divorce and you owned mutual property with your former spouse, you can use your portion of the proceeds from the sale of that property as a down payment. Keep in mind, however, that your first mortgage must be satisfied and any equity lines of credit or second mortgage products paid. You may also be required to pay capital gains taxes from the sale.
Once you have an idea of what you can afford, you can begin shopping for a mortgage provider. By speaking with a lender before you attend your first open house, you will have a realistic picture of your financial health and will know precisely what you can afford. Further, as the market remains fiercely competitive, having a pre-approval letter on hand may open more opportunities than would be available to the casual buyer.
When it’s time to begin looking at properties, start at the low end of your pre-approval. Keep in mind that the list price does not accurately reflect your future monthly expenses. In addition to the mortgage payment, you will also be responsible for property taxes, HOA fees (if applicable), PMI, and homeowners insurance. You will also pay closing costs, which Zillow explains can equal 5 percent of your home’s cost. Research the average list prices of homes in the area you want to live and don’t count out the possibility of expanding your search a few miles outside of city limits.
Now that you’ve gotten your finances in order, know how much you can afford, and have narrowed down your search parameters, you’ll need to apply “personal filters” that will weed out homes that don’t fit your lifestyle. Crime rates, access to public transportation, proximity to and quality of local schools, neighborhood amenities (such as nearby parks and playgrounds), and local property tax rates are all things you should consider.
Save the Date
As the closing date draws near, you’ll want to plan ahead for the day. Consider hiring movers to handle the heavy load and contact the cable, internet, and utility providers for an estimated installation timeline. You will also save yourself lots of headaches and stress if you stay organized throughout the packing process and label boxes clearly so your movers can drop them in the right place at your new home.
Congratulations on your upcoming move. It’s both an exciting and anxiety-filled time, but it’s one made much easier on the mind, body, and soul (not to mention the wallet) if you take the time to know what you’re going into and avoid getting in over your head.
Author of this article, Tilda Moore, researches and writes about educational resources for openeducators.org. She is passionate about helping parents and teachers in providing kids with the best education possible. She works directly with teachers and other public education groups to ensure they are working toward our vision of constructing a reliable database of verified information
Finding a Home After Your Divorce
After a divorce, it can be difficult to continue living in the house you once shared with your partner. At the same time, however, searching for new property in the aftermath of a divorce can be just as tough. Not only are you in an emotionally vulnerable state but may also be experiencing a financial hit as well. The average divorce in America costs an average of $15,000, which is more than most families can comfortably afford. Some families choose to sell their original home to help pay for a new one, but this isn’t always possible when one party keeps the property.
Take Some Time to Think Things Through
After a divorce, most of us are in no sound mental state to be making major life decisions. A new home is a huge investment, and you shouldn’t be too hasty when searching through the listings. If you’re feeling stressed or frazzled, you may be more inclined to accept an unfair offer, or you may accidentally overlook problems with a property.
Instead of rushing into a new mortgage, take a few weeks to a few months of living in a rental property before committing to buying a home. You can use the time to find new accommodation that fits family life, or if your kids have flown the nest, then a smaller space that is comfortable without being poky. That way, you’ll be stepping into the transaction with a clear and sound mind. The emotional aftermath of your divorce is much less likely to influence your decisions, allowing you to set yourself up for success.
Take Stock of Your Financial Situation
Before checking your local real estate listings, you should be well aware of what finances you do (or don’t) have at your disposal. You should record your incoming and outgoing costs, slashing any unnecessary expenditures to increase your net income each month. You should also take into account any divorce-related fees that may impact your bank account, including lawyer costs and alimony payments.
If you and your partner have any joint bank accounts or shared investments, you should make sure to separate your finances before your divorce is finalized. If you don’t, the actions of your ex-spouse may affect your credit score after the divorce, negatively impacting your ability to find a good mortgage rate. It’s also a good idea to remove your name from the mortgage on your current house so that you don’t end up being responsible for double payments each month.
Raise Your Credit Score
No matter what your mental, emotional, or financial state might be, raising your credit score is a surefire way to find a house at a more affordable price. The higher your credit score, the lower rates banks are willing to offer you on your mortgage. The easiest way to raise your score is simply by paying your bills on time, but you can also whittle down your debt, keep your credit balance low, and call your bank to settle any disputes on your record. You should also keep credit cards open, as closing accounts can increase your credit utilization ratio.
In the months after a divorce, it can be a challenge to figure out your new living situation. If you plan on buying a house, it’s vital that you do your research before looking at local listings. By taking your time and understanding your finances, you can find your dream property at a price you can afford.
Author of this article, Lucy Wyndham, is a freelance writer and former Financial Advisor. After a decade in industry, she took a step backward to spend more time with her family and to follow her love of writing.
What Are the First-Year Costs That Come with Raising a Baby?
When you feel you’re ready to have a baby, it can be exciting as well as overwhelming. Having a baby means expanding your family, but it also means that you’ll have some logistics to consider. Namely, what about the financial considerations that come with having a child?
There are short- and long-term factors to think about. In the short-term, you’ll have to think about the medical costs related to pregnancy and labor and delivery, as well as maternity and paternity leave from your job. You’ll have initial investments for items such as cribs and other baby accessories. Then, you’ll have to think about health insurance for your new child and childcare when you do return to work.
These first-year costs can add up very quickly, and they require planning and strategizing to manage them effectively.
LendEDU recently surveyed 1,000 parents with a child who was at the time of the research, at least a year-old but not older than three. The goal of the research was to determine what to expect when it comes to raising a child and the costs it requires within the first year of the baby’s life. The survey took place over two days in February 2019 and was conducted by online polling company Pollfish.
The following are highlights of the research.
On Average, a Baby’s First Year Will Cost $13,186
The research indicates that the year-one costs for a new baby amount to an average of $13,186, with a median cost of $6,000. This number represents quite a jump from a 2010 USDA report, that showed the average household would spend $12,000 during the first year of a baby’s life.
- For around ¼ of the poll respondents, first-year spending for a new baby represented anywhere from 21 to 30 percent of annual income.
- 13 percent said it was 31 to 40 percent of take-home pay, and eight percent said they had to spend up to 50 percent of their income.
- Eight percent spent more than half of their annual income on costs related to the baby.
How Is the Total First Year Cost Broken Down?
So, more than $13,000 is quite a bit in a year. What is that spent on? The costs break down in the following way, based on the LendEDU research:
- Toys, diapers, and gear like strollers was the most expensive category. These costs represented 30 percent of total spending, amounting to $3,965.
- 28 percent of spending went to food, which was on average $3,692 of the total first-year costs.
- Next was healthcare, taking up 17 percent of total first-year spending.
- Childcare accounted for 13 percent of first-year costs for a new baby, and behind that was miscellaneous expenses at 12 percent of the total.
Did Parents Save in Advance?
With such high costs associated with having a baby, did parents plan, save and budget in advance of having a child?
58 percent of people who participated in the survey said they started saving money to prepare, although 42 percent said they didn’t budget ahead-of-time. 52 percent of parents who did say they started budgeting and saving didn’t save enough for all costs.
Many parents also underestimated how much it would really cost. The average parent in the survey expected to spend $9,371 on a newborn, with their estimates being off by more than $3,800.
So what’s the takeaway? Babies are expensive, and it’s important for parents to have an idea of just how expensive and start financially planning and preparing as soon as possible before having a child.
Author of this article is Mike Brown at lendedu.com/
9 Tips for Men Facing Financial Hardships During Divorce
As a man facing divorce, there is a lot you go through with little support. You might be constantly wondering how things will turn out at the other end- whether or not you will get enough time with your kids, how you and your spouse will work everything out, and so on. One of the major concerns for fathers getting divorced is the time and money spent on the process.
Some men understand the importance of saving money during the divorce process; for other men, some critical divorce issues end up hogging most of their attention. Either way you look at it, finances are a pressing matter worthy of concern during a divorce process.
Since divorces come with a price tag, it is important to consider how much you can afford to shell out in the process. The last thing you want is a lot of money wasted in the divorce process.
Maintain your desired quality of life throughout the divorce process by using these tips.
Build a Trustworthy Team
While going through a divorce, men are often prone to feeling intense emotions. The emotionally charged circumstances might compel you to make the wrong choices. This is when you need a trusted financial advisor, lawyer, and accountant by your side.
These professionals can help you make wise financial decisions all through the divorce process, allowing you to save money you might have otherwise spent in the spur of the moment. Financial decisions should be based on logic more than on emotions. Seek help from a trusted team of professionals to guide you along the economic lines.
Expensive is NOT Always Worthy
Quit believing that all expensive services are the best. You might feel inclined to hire the most expensive lawyer in town to win child custody for men in New Jersey and negotiate alimony.
However, a lot of other factors play a role in determining how efficient any professional is.
Expensive is not always the best. Take the time to understand in depth all the services you need and make informed financial decisions. Considering your spending power and your post-divorce future will help you create a spending limit. Learn about the quality of services offered by various professionals (therapists, lawyers, financial assistants, etc.) and ponder their importance to your situation. Calculated spending will prevent you from wasting money in useless places.
Separate Your Cards and Financial Accounts
You don’t want an emotional drama surrounding finances while going through a divorce. If they are not already, separate your joint accounts and credit cards right away. This will save you the hassle of monitoring how much you or your spouse is spending after filing for divorce.
Often, these issues spring up during the divorce process, opening channels to unnecessary disputes. Reduce the potential for conflict and keep finances straight and simple throughout the divorce process.
Get a Real Picture of Your Budget
Family lawyers for men in Nutley, NJ suggest fathers and men going through a divorce plan and chalk out their budgets during divorce. They also encourage their clients to project their financial needs post-divorce.
The financial picture changes a lot after divorce with one less adult contributing to the household. If there are children involved in your case, consider how much you will potentially spend on their needs.
Track your expenses and cut back where you can. Outlining a crystal-clear budget will help you predict financial responsibilities and plan your expenditure during divorce accordingly.
Straighten Out Financial Imbalances
If your spouse has always kept track of finances, this needs to change. Try to keep up with the finances as soon as you file for a divorce. You need to know how much money comes into the household and where it is spent. If your spouse has been in charge of finances up until now, ask them to involve you.
Knowing about the flow of finances in your household will help you negotiate a fair settlement when you enter the divorce process. Get on a level footing with your spouse when it comes to handling finances and documenting them.
Set into a New Lifestyle
There are a lot of changes after a divorce. Your income might not allow you to keep the family home, and you might have to do away with some of your habits that involve spending heavily.
Get into a fresh lifestyle where you prioritize your needs and responsibilities and plan finances wisely. Your post-divorce living standard will likely drop to some extent. Prepare for the change to make the process easier.
It makes sense to downsize your expenses and move into a smaller home until you can get back on your feet and afford the lifestyle you are used to.
Strive for Financial Independence
Fathers’ rights allow men to receive alimony payments when their spouse was the higher earner in the household. Either way, aim to be financially independent and not rely on your spouse’s child support or alimony. Life can take unexpected turns, and your spouse might lose their job or need to take time off from work.
When that happens, you should be in a condition to support yourself and your children. Focus on improving your earning capacity so you are prepared to take on any financial challenge in the future.
Protect Valuable Assets
If your spouse might hide or sell assets that were purchased with marital funds, protect them. Know that these assets will be valued and split during the divorce process.
Safeguard these assets while not hiding the fact that they are in your possession. Never sell any property you bought with marital cash during the course of a divorce. You will need to pay for any sold assets at the time of the divorce settlement negotiations.
Avoid Impulsive Decisions
Family lawyers for men advise you to refrain from making any major financial decisions for at least 6 months during your divorce process and after your divorce gets finalized.
Don’t move to a new city or change your job on impulse.
Family lawyers for men believe that with a little caution and patience, men can sail through these hard times. Adapt to circumstances and be prepared for a challenging financial future; men are often the ones who pay child support and alimony while also supporting their own lifestyle.
While divorce can be frustrating and devastating, it’s like any other change that feels highly uncomfortable at first until you settle down in the routine. Know that things will get better. Continue to make the right choices. It is also desirable to take help from therapists to keep your sanity intact and financial advisors to get a clearer picture of your finances and plan ahead of time.
About Author :-
Brad M. Micklin, Esq., is the lead family lawyer Montclair and managing member at The Micklin Law Group, LLC. For more than 22 years, he has helped men through some of the toughest, most emotional experiences in their lives, including child custody battles.