Breaking up is hard. Then there is the financial aftermath or nightmare that you go through with your finances. It is like you had two breakups as if one was not enough. There’s the breakup, then there’s the breakup with each other’s finances (this varies depending on your individual situation). Now you’re adjusting to being single again. You’re trying to get your finances in order after sharing finances (to some extent). Now you are dealing with a single financial situation. You are carrying everything now.

I realized that as a single person I needed to figure out how I could generate more income above my salary so I could start to plan and build my financial future. My financial future was in my hands.

Here are 4 Ways You Can Start to Cash in on your Breakup:

Way #1

If you need money like yesterday, ask yourself what are you no longer using that you could sell? You can have a physical yard/garage sale or a virtual one. What have you outgrown or no longer need? What breakup baggage or reminders (ie. gifts, mementos, relics, furniture, appliances, jewelry, housewares, art, paintings, electronics etc.) do you have left over from your breakup? Sell any reminders of your relationship that you no longer have a need for or want around. One person’s trash is another person’s treasure. Isn’t that how it goes? Bottom-line is to purge and declutter your space, make some quick cash (or as I like to say some breakup money) and reclaim your environment. Make it yours again.

Now you can use this breakup money to do something nice for yourself or you can invest it into something that can work towards building your financial future. I used my breakup money to start “Banking from Breakup.” How fitting? I can show you how you can up your breakup money by banking on yourself. Think of it as “flipping” your breakup. Weird I know. But whatever works is the way I look at it.

The best place to start is to go through your closet. This was one of the first places I started with during my banking from breakup experiment. You can put things on consignment at local consignment stores in your area. Then there are a ton of buy and sell apps like Letgo, Decluttr, Vinted, etc. that you can download on your phone and with the snap of a button you can upload a photo of those items you wish to let go of. Yes, it’s that simple. You can also post items on sites like eBay, FB Buy & /Sell Groups, Kijiji, Craigslist. Will do a more detailed blog in future and show you the steps.

Way #2

Next, you want to ask yourself, what do you already know? What knowledge do you already have that you could exchange for money? What areas do you have education, experience, or expertise that you can exchange for money? Make a detailed list of your education formal or informal, your experiences and your expertise. Think of things that you know really well that you could teach or coach someone else on. What are some of your hobbies, interests, passions?  Believe or not people pay for information (knowledge) and to learn new things. The digital information/e-learning industry is pacing to 331 billion dollars by 2025.

Way #3

Now, think about what additional income streams could you leverage and tap into? For example, work extra hours, work overtime, take a part-time job, consult, do freelance projects or contracts on or offline, offer your services privately, do private coaching, write for online publications, become a virtual assistant, start an online business, create programs, trainings, workshops, seminars or presentations to educate others on topics you’re already good at. How else can you up your current income?

Way #4

Last, ask yourself what skills do you already have that you could exchange for money? For example, do you have computer skills, are you good with Microsoft or what about social media, bookkeeping, baking, cooking, sewing, cleaning, making and editing video? Honestly, it could be anything. These are just some examples. Again, take a piece of blank paper and write all the skills you have. Look over your resume at jobs you’ve had in the past. Look at what you are doing in your current job to help you identify bankable skills.

The idea is to leave no stone unturned. You want to uncover all the possible ways you can generate additional money using what you already have, can leverage, that you already know and that you are already good at. Things you do not have to go out and learn. This makes it easy to get started. You can’t make any excuses. Use your breakup as motivation to create the best life for yourself. Better to Cash in on Your breakup than to be crushed by it!

So how will you bank from your breakup? What’s your game plan? Are you ready? Find out now!