Divorce can easily be emotional, no matter the reasons behind the split. People may lose sight of needs versus wants. Needs are for survival, well-being and basic quality of life. They encompass shelter, clothing, health care and education. Wants contribute to comfort, enjoyment or lifestyle.
It is important for divorcing spouses to distinguish between needs and wants to ensure a fair and equitable outcome for both parties.
1. Identify needs
Prioritize key needs such as housing, transportation and health care. These are the basic necessities for a reasonable quality of life post-divorce. The cost of living in Elgin is below the U.S. average, but that does not mean everyone has an easy time with expenses. Take stock of your current living situation and determine what is necessary for you and any dependents.
2. Consider children’s needs
If children are in the picture, give their needs the utmost priority during the divorce. This includes their emotional well-being, education and access to both parents. Develop a parenting plan that takes into account their best interests and ensures they have support and resources.
3. Evaluate financial requirements
Assess your financial situation carefully to determine your needs versus wants. Create a budget outlining necessary expenses such as groceries, utilities and debt payments. Be realistic about your income and expenses to avoid financial strain post-divorce.
While it is natural to desire certain comforts or luxuries, they may not be essential for your well-being. Consider what is truly necessary for your day-to-day life and prioritize those needs accordingly.
Take your time to ensure how your needs and wants align with your long-term goals. Consult with trusted friends, family members or financial advisors for perspective and guidance.
By taking stock of your needs and wants, you can navigate the divorce process with more clarity and confidence.
