We often hear about married folks not having enough money, however, what about the flip side: divorced women who have children and extra money? Having experienced this personally, I'd like to share my thoughts on the subject.
There are many things we are told by financial gurus to do with our money. I truly believe that extra money just sitting will find its way to someone else who will put it to work for them, so it may as well be working for me, right? I, for one, have become a fan of investing in things that cash flow, and am looking for more ways to do so.
I am a fan of cash flow for two reasons:
1) My money keeps moving (earning and growing, instead of sitting or perhaps wandering off to the mall...)
2) More money in my pocket (my asset pays for my life, liabilities, and other assets)
These give me more security as a divorced mother with children, and also more income with which to do other things with, or income coming in if godforbid something happens to me.
There are different investments to choose from, always try to love what you invest in and understand it (the two really go hand in hand).
The two things to be aware of with investments from this extra money, in my personal opinion would be:
1) Look for the best ROI (biggest bang for the buck, making more of and for less...)
2) Look for the most control over your investments.
These two have become important to me because holding out for an investment with the best ROI (return on/of investment) I can is the best use of that money- more bang for my bucks. The control is something I really have come to value. If the proverbial shit hits the fan, the more control you have over your investment, again the greater security when you have children who rely on you.
Are you a divorced woman with children and extra money? What are you doing with that money?