Maintaining Financial Stability Through Big Life Changes
Episode 117, Jul 17, 2020, 08:00 AM
We all experience transitions in our lives; some foreseen, others unforeseen and while these changes impact our whole personhood, we want to explore how to sustain financially through these stressful shifts. From divorce to job change, today we're talking about what we should be focusing on to come out the other side aimed at financial well-being!
Sponsors:
- The Frugal Friends Workbook! Our show has always been about coming together around a shared desire to save more, consume less, and do great things financially and we have been working our hearts out to bring you something that helps you do that better and it’s called The Frugal Friends Workbook. We worked too hard on the inside to come up with a better name. The Frugal Friends Workbook can be completed on your own but it’s created to be gone through in pairs or small groups. It’s 6 week-long challenges that will help you become more frugal in various aspects of your life. It launches August 7th and you will be hearing more about it in the weeks to come.
- Plot twists: Specifically the great Instagram post I saw that said you have every right to give em a plot twist.
What the Internet has to say:
This article from Forbes lists out some important steps to take specifically when walking through a divorce, but we find these tips helpful for all sorts of transitions we may face!
What Jen + Jill have to say:
- Update accounts
- Build a “post divorce team” - financial advisor, therapist, vocational counselor (FRUGALLY!)
- Develop a financial plan
More from the Internet:
This article, again from Forbes, lists out how we can think about and be prepared for a career change.
More from Jen + Jill:
- Understand your costs & Cut expenses
- Make sure new career can cover your costs
- Save!
- Take your time (stick with ‘old’ profession as you learn the new one)
BILL OF THE WEEK - Thank you Erica from NJ for sharing your bill about PAYING OFF 2 credit card! Congrats!
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Lightning Round
How we navigated big life changes
- Jill - current move to FLORIDA
- Jen- Career change from acupuncturist to writer to freelancer
Wrap-Up:
Thanks so much for listening! Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to frugalfriendspodcast@gmail.com. AND share our most recent episode on social for a chance to win a $10 Amazon gift card!
Thanks for listening! See you next week!