General Finance Archives — Beating Broke

Finding Yourself (and a Paycheck): Reinventing Your Career After Divorce

November 6, 2025 By Erin H Leave a Comment

Divorce is rarely just the end of a marriage—it’s the end of a chapter, and often, the beginning of a completely new story. For many, that story includes a reawakening of personal identity, rediscovering passions, and rebuilding financial independence. And sometimes, it means reinventing a career altogether.

If you’ve recently gone through a divorce, you might feel as if you’ve lost your footing. Your routine, your finances, your social circles—even your confidence—might have been shaken. But what if this period of upheaval could actually be the perfect opportunity to rebuild a career that feels more aligned with who you are now?

Let’s explore how to navigate the emotional and financial realities of divorce while forging a fresh professional path that not only supports you but helps you thrive.

The Financial Reality Check

Before you can reinvent yourself professionally, it’s essential to take stock of your financial situation. Divorce can have a massive impact on your budget, assets, and long-term planning.

It’s no secret that divorce can be costly. In some states, like Colorado, the average cost of a divorce is more than $13,000 per party (and may even exceed that). Multiply that by legal fees, potential alimony, and the cost of setting up a new household, and you’ve got a major financial shift to manage.

If your career took a back seat during your marriage, or if you’ve been out of the workforce for several years, re-entering the job market can feel intimidating. But this transition doesn’t have to be purely about survival—it can be about building something new and better suited to your goals.

Start by establishing a realistic post-divorce budget. Identify your non-negotiable expenses, understand your income streams, and evaluate how much flexibility you have to invest in education or training. Having clarity on your finances allows you to make confident, strategic choices about your next career move.

Step One: Rediscover Who You Are (Without the “We”)

When you’re married, career choices often reflect a shared life—decisions made around your partner’s job, your family’s needs, or the lifestyle you built together. After divorce, those priorities shift dramatically.

This can be an emotional but also liberating process. Ask yourself:

What kind of work energizes me?
What values feel non-negotiable now?
Do I crave stability—or am I ready for adventure?
What strengths have I developed that I can translate into new work?

Consider journaling, career assessments, or talking with a coach or therapist. The goal isn’t to rush into the next job—it’s to reconnect with your authentic self.

When you know what drives you, it becomes much easier to choose a career path that will bring both purpose and income.

Step Two: Take Inventory of Your Skills and Strengths

You’ve likely developed more skills than you realize—especially if you’ve managed a household, raised children, or juggled family and career responsibilities. Divorce, while painful, often exposes untapped resilience, problem-solving, and negotiation skills that are invaluable in the professional world.

Start with a “skills inventory.” List everything from technical expertise to soft skills: organization, communication, budgeting, leadership, empathy, adaptability. Then compare those with the requirements of jobs that catch your eye.

If you notice gaps, don’t be discouraged. This is where education and training come in. According to Zippia, as many as 59% of employees believe that more training improves their performance. Whether it’s enrolling in an online course, earning a certification, or attending a professional workshop, investing in yourself boosts your confidence and your employability.

You might even find joy in learning again—proving that self-improvement isn’t just for your career but for your spirit, too.

Step Three: Redefine Success on Your Own Terms

After a divorce, your definition of “success” may evolve. Maybe you once equated it with a high income or a prestigious title, but now, you crave flexibility, freedom, and balance.

Take time to reflect on what a successful life looks like for you now. Maybe it’s working remotely so you can be home for your kids after school. Maybe it’s starting a small business doing something creative. Or maybe it’s climbing the corporate ladder again, but this time with confidence in your independence.

Whatever your path, remember that it doesn’t need to look like anyone else’s. This is your opportunity to write a new story that reflects your individual needs, values, and ambitions.

Step Four: Rebuild Your Professional Network

Divorce can sometimes shrink your social and professional circles, especially if many of your connections were shared with your ex-partner. That’s okay—it’s time to rebuild, and maybe even expand, your network in directions that support your new goals.

Start small:

Reconnect with old colleagues or mentors.
Join local business or alumni groups.
Attend industry events, both in person and online.
Update your LinkedIn profile to reflect your current ambitions.

Networking isn’t just about finding job leads—it’s about finding inspiration, support, and community. Many people reinventing their careers post-divorce find mentorship invaluable. Surrounding yourself with people who believe in your potential can reignite your motivation and remind you that you’re not alone in this transition.

Step Five: Focus on Motivation and Momentum

When you’re reinventing your life after divorce, motivation can fluctuate. Some days you’ll feel unstoppable; other days, getting out of bed might be an accomplishment.

That’s normal. Motivation is a muscle—it strengthens with use and patience. And it matters. According to TeamStage, employees work 20% better when motivated. That’s not just a statistic—it’s a reminder that enthusiasm and purpose directly impact your performance and satisfaction.

So how do you keep that motivation alive?

Set small, achievable goals. Updating your résumé, applying for one job, or completing one online class all count as wins.
Celebrate progress, not perfection. Reinvention takes time, and every step forward deserves recognition.
Surround yourself with positivity. Friends, podcasts, books, or online communities that focus on growth can be powerful motivators.
Keep your “why” visible. Maybe it’s independence, stability, or proving to yourself that you can thrive again—whatever your reason, remind yourself of it daily.

Step Six: Consider Career Coaching or Counseling

Rebuilding a career after divorce can be both a professional and emotional journey. Sometimes, it helps to have a guide. Career coaches can help you identify transferable skills, polish your résumé, and strategize your next move. Meanwhile, therapists or support groups can help you process the emotional layers of change and loss.

These professionals offer perspective when you’re too close to see clearly. They can help you turn confusion into clarity, and self-doubt into self-direction.

Step Seven: Explore All Your Options

This is your moment to get creative. Whether you want to climb back into the corporate world, switch industries, or finally pursue that long-held dream, the possibilities are wide open. Here are a few reinvention paths worth exploring:

1. Returning to the Workforce

If you’ve been out of the job market for a while, start by updating your skills and learning the latest tools or technologies in your field. Many companies now offer “returnship” programs designed specifically for professionals re-entering after a career break.

2. Starting a Business

If independence calls your name, consider entrepreneurship. Starting small—through freelancing, consulting, or an online shop—lets you build income while testing your ideas. Divorce often sparks a desire for autonomy, and building your own business can be deeply empowering.

3. Changing Careers Entirely

Sometimes, divorce acts as a reset button. Maybe you’ve always dreamed of working in a different industry or pursuing a passion that didn’t fit your old lifestyle. This is your chance to make that leap—with research, planning, and persistence.

4. Pursuing Education or Certification

Investing in education is an investment in your future. Even a short course or professional certification can open doors you didn’t know existed. It’s also a powerful signal to employers that you’re committed to growth and ready for a fresh start.

Step Eight: Practice Self-Compassion

Reinvention isn’t linear. You’ll have setbacks, doubts, and moments when you wonder if you’re strong enough to keep going. You are.

The key is to treat yourself with the same kindness you’d offer a friend in your situation. Divorce can leave scars, but it also builds strength. Each time you take a step toward financial independence and personal fulfillment, you’re proving to yourself that you can rebuild—not just survive, but truly flourish.

Step Nine: Create a Work-Life Balance That Works for You

As you rebuild, remember that your work should support your life—not consume it. Divorce offers a unique opportunity to redesign your daily rhythm. Maybe that means working fewer hours to spend more time with your children, or maybe it means diving into a new passion project that brings joy and purpose.

Pay attention to how different types of work affect your emotional and physical well-being. The goal isn’t just to earn a paycheck—it’s to create a life that feels whole again.

Step Ten: Celebrate Your Reinvention

At some point, you’ll look back and realize that the person you’ve become—the one who faced loss, uncertainty, and fear—has emerged stronger, wiser, and more self-assured.

Your new career won’t just be a job. It will be a testament to your resilience. A reflection of your growth. A symbol of the fact that even after the most painful endings, new beginnings are always possible.

So when that first paycheck arrives from your new job, business, or freelance gig, take a moment to celebrate. You didn’t just find income—you found yourself.

Why Would You Refinance Your House Now? Here Are 10 Reasons

October 28, 2025 By Teri Monroe Leave a Comment

With interest rates dropping to their lowest point in a year, as of October 2025, many homeowners are asking: Is now finally the right time to refinance? After years of high mortgage rates, for many Americans, it’s a financial reset. Refinancing could give you an opportunity to lower payments, shorten loan terms, or unlock equity for future goals. But that’s not all. Whether you bought during the rate spikes or haven’t reviewed your loan in years, refinancing can bring surprising benefits beyond just a smaller bill. Here are 10 solid reasons it may make sense to refinance your house right now.

1. Interest Rates Are Finally Drifting Down Again

After peaking above 7% in 2023, average mortgage rates have dipped closer to 6% today. When you do the math, even a one-point drop can mean tens of thousands saved over the life of a loan. If you’re considering refinancing, it’s important to do it now, before another rate swing happens. This can lock in stability for years. In fact, the earlier you act during a rate-cut cycle, the bigger the long-term payoff.

2. You Want Lower Monthly Payments

Probably the most common reason to refinance is that you want lower monthly payments. A lower rate or extended loan term can shrink your mortgage payment. Imagine what even trimming $150 a month could do. That could put $1,800 in your pocket annually. That cash could be used for other priorities like retirement savings or paying down high-interest debt. So, even small adjustments can make an impact and improve your financial health.

3. You Can Shorten Your Loan Term

Lowering your monthly payments isn’t the only reason to refinance, though. If you’re comfortable with your current payments, refinancing into a shorter loan term, say from 30 years to 15 years, can dramatically reduce total interest. You’ll pay off your home faster and build equity quicker. For example, if your income is higher right now, you may want to focus on becoming debt-free. While there’s no rule on how many times you refinance, you do pay closing costs each time. So, it’s important to only adjust loan terms if you’re in a stable financial situation.

4. You Want to Consolidate High-Interest Debt

Mortgage interest rates are typically far lower than credit card or personal loan rates. A cash-out refinance lets you roll those debts into one lower-rate loan, simplifying payments and cutting total interest costs. While this moves unsecured debt into a secured loan, it can be a smart reset if paired with disciplined spending.

5. You Need Cash for Major Life Goals

Home equity can be a powerful financial tool when used strategically. Refinancing allows you to access that equity for renovations, tuition, or major life changes. With property values still high, many homeowners are sitting on record equity levels without realizing it. A cash-out refinance gives you flexibility without resorting to higher-interest borrowing. It’s one of the cheapest ways to borrow. With this kind of refi, you’ll get a lump-sum payout for your equity. But usually. you are required to retain 20% equity in your home.

6. Your Credit Score Has Improved

If your credit score has jumped since you first took out your mortgage, you likely qualify for a better rate now. Lenders reward strong credit with lower interest and better terms. Refinancing based on improved credit can mean thousands in savings. You’ll want your score to have jumped 20-30 points for a better new rate. A score of 740 or higher is generally needed for the best rates. It’s proof that good financial habits pay off in very real ways.

7. You Want to Switch From an Adjustable to a Fixed Rate

Adjustable-rate mortgages (ARMs) made sense when rates were low, but resets in recent years have shocked many borrowers with sudden payment jumps. Refinancing into a fixed-rate loan restores predictability and security. You’ll know exactly what to budget for each month, and you’ll be protected if rates rise again in 2026 or beyond. However, it’s a smart idea to calculate your break-even point, so you know when you’ll start saving money.

8. You’re Divorcing or Changing Ownership

Refinancing is often the cleanest way to remove or add someone to a mortgage. This can be due to divorce, inheritance, or estate planning. It resets the legal and financial ownership structure while allowing you to re-evaluate your terms. Even if rates are slightly higher, the clarity and independence gained often outweigh the cost.

9. You Want to Eliminate Private Mortgage Insurance (PMI)

If your home’s value has increased and you now have at least 20% equity, refinancing can remove private mortgage insurance. PMI often costs $50 to $250 a month, depending on loan size. Dropping it not only cuts monthly costs but also streamlines your statement. Many homeowners don’t realize they’re still paying PMI unnecessarily.

10. You’re Planning for Retirement and Want Predictable Cash Flow

For homeowners nearing retirement, refinancing can lock in lower payments or shorten a term before switching to a fixed income. Some also use cash-out refinancing as part of a “retirement readiness” plan. Extra cash can fund home upgrades, pay off debts, or build a financial cushion. It’s about designing stability while income is still steady.

Why Refinancing in 2025 Is More Than Rate Chasing

Refinancing today isn’t just about timing the market; it’s about improving your overall financial position. Whether your goal is lower payments, debt consolidation, or tapping equity wisely, the right refi can boost stability and flexibility. If you haven’t reviewed your mortgage in the past two years, it’s worth exploring your options before the next rate adjustment cycle hits.

Are you considering refinancing this year, or have you already locked in a new rate? Share your experience or questions below.

8 Real Truths About Putting Solar Panels On Your Home

October 21, 2025 By Teri Monroe Leave a Comment

Are you considering solar panels? Installing solar panels sounds like a simple way to save money and help the planet. But the real picture is more complicated. Homeowners often discover solar isn’t always a guaranteed win. Before you sign a contract or let a salesperson climb your roof, here are eight truths every homeowner should know about going solar in 2025.

1. Not Every Home Is a Good Candidate for Solar

Not all roofs are the same. It’s a complete myth that any sunny roof can make solar power pay off. The U.S. Department of Energy (DOE) says that roof angle, age, shade from trees, and even your region’s climate can impact efficiency. North-facing roofs or areas with frequent cloud cover produce far less energy. Before installation, homeowners should request a solar suitability analysis to ensure their setup can generate enough power to justify the cost. These services are often free, so it’s worth your time.

2. Upfront Costs Are Still High Without Incentives

Do you think that harnessing the power of the sun will be cheaper? You may be surprised to learn that upfront costs can be very pricey. While solar costs have dropped dramatically in the past decade, the average installation still runs between $15,000 and $25,000 according to the Solar Energy Industries Association (SEIA). Federal tax credits cover up to 30%, and many states offer rebates, but you’ll need the capital upfront. Leasing may sound easier, but those savings often come at the cost of long-term ownership and equity in your system. Remember, Federal tax credits are not guaranteed. So, if you’re considering solar panels, act while they are being offered.

3. “Free Solar” Ads Are Almost Always Misleading

If you’ve seen ads claiming you can get “free solar panels,” be skeptical. Many of these ads are scams or bad deals. The Federal Trade Commission (FTC) warns that many of these offers are actually long-term lease or power purchase agreements (PPAs). In these deals, the company owns the panels, controls the power pricing, and can place a lien on your property. Always read contracts closely to confirm who truly owns the system. If you aren’t careful, this could affect the resale value of your home.

4. Solar Doesn’t Always Eliminate Your Electric Bill

Solar power isn’t free. Even after going solar, you’ll likely still owe a monthly connection fee to your utility provider. Most utilities charge grid access fees and require users to stay connected for stability. You may also owe charges when sunlight output drops, such as during winter or cloudy periods. Solar can reduce, not erase, your bill, especially if you use more power than your panels produce.

5. Selling a Home With Leased Panels Can Be Complicated

Solar increases property value when you own the panels. But leased systems can actually delay home sales. A 15-to 25-year solar lease makes most buyers pause. Some lenders won’t approve mortgages on homes with active solar liens. If you might move within a decade, ownership or hybrid financing is safer than long-term leasing.

6. Maintenance Isn’t “Set It and Forget It”

While solar systems are low-maintenance, they’re not maintenance-free. Homeowners need to inspect panels annually for dirt buildup, wiring corrosion, or inverter failure. Heavy snow, dust, or bird droppings can reduce performance, as well. Some warranties include maintenance, but others require you to schedule and pay for upkeep. Many homeowners forget to factor in these costs when considering solar panels.

7. Buyback Credits Are Shrinking in Some States

Many homeowners install solar, expecting to earn credits for sending extra power back to the grid. However, net metering policies are changing or being challenged. The California Public Utilities Commission (CPUC) recently reduced solar credit rates by up to 75%, meaning homeowners would earn far less for excess energy. The decision is still in the courts, so the future of these credits is still unclear. As more states follow suit, the payback period for solar investments may stretch beyond the once-promised 6–8 years.

8. Solar Still Adds Value—When Done Right

Despite the hurdles, owned solar panels remain one of the few home upgrades that can increase value. Environmentally conscious buyers view it as a long-term investment, especially in energy-cost-heavy regions. The key is ownership, transparency, and accurate documentation. Done right, solar pays off in both lower bills and higher resale value.

The Smartest Move Is Educated Installation

Solar energy can be an incredible investment. But only when you fully understand the fine print. Ask tough questions, calculate payback periods, and verify your contractor’s certifications. When approached with strategy, not hype, solar can truly make your home more sustainable and your wallet more resilient.

Have you installed solar panels or decided against them? Share your experience in the comments.