[ad_1]
After her husband declared bankruptcy, Claudia *, 40, lost her home and most of her belongings and had to adjust to a new lifestyle.
She shares how the experience humiliated and changed her, and why she still wakes up grateful every day.
“When I married my wealthy businessman and husband 15 years ago, I never thought that one day we would be left with practically nothing.
Terence * had inherited a lot of money from his late father and also owned several businesses, so compared to the average Singaporean we were doing quite well.
However, in 2018 Terence’s business began to suffer. A lucrative deal he was working on failed and we lost much of our wealth.
We had to file for bankruptcy, and now, two years after losing almost everything, we are trying to rebuild our lives.
Living the good life
Terence and I were more than comfortable. We lived on land in a prestigious district, drove fancy cars, and had vacations three times a year at exotic resorts.
Our son, who is now 12, also had everything he wanted, from expensive toys to the latest gadgets, and between my husband and I we had closets full of designer clothes and jewelry, collected over the years.
I didn’t work because I didn’t need it; I worked as a public relations executive before I got married and quit my job shortly after, and my days were like those of a typical high-end lady, full of lunches. with brides, shopping excursions, spa treatments and cocktails.
Our lives were carefree and uncomplicated. I didn’t think twice about splurging on designer items or had no qualms about spending thousands of dollars on catering every time we entertained at home.
We were getting a lot of income every month and Terence’s business was thriving, so I took it for granted that we would always be in good financial shape.
Bombshell News
About a year ago, Terence gave me some bad news: a major deal he had been working on did not materialize, and his investments were not going well.
One of his business partners was also having legal trouble. But I wasn’t prepared for what he told me next: we were in debt and on the brink of bankruptcy.
We had to sell our beautiful house and move into a small apartment that was owned by his family. We also had to drastically cut our expenses.
What surprised me the most was that Terence had been in financial trouble for almost a year.
He didn’t tell me before because he didn’t think it would get so bad and he didn’t want me to worry. I was furious that he hadn’t been honest with me and hadn’t spoken to him for days.
A million questions ran through my mind: Would we be in debt for the rest of our lives? Could we still give our son a good life?
I couldn’t sleep for weeks after Terence broke the news to me. We had been fine for so long that I couldn’t imagine being close to bankruptcy, plus I was mad at my husband for keeping the truth from me for so long; He wasn’t sure he could trust him again.
We fought every day and I cried every night. We tried to protect our son from our financial problems, but he could feel that something was wrong and this affected his studies.
Rebuilding our lives
We had to vacate our home and sell most of our high-value possessions in a few months: antique watches, artwork, designer bags, and jewelry.
We also had to ditch our luxury cars and settle for a standard family vehicle. I cried my eyes when we had to move.
Bankruptcy was hot news within our social circle. I lost a few friends, but for the most part, people were supportive of us. Terence’s family also lent us some money to help us, and they have promised to support us financially until we recover.
The entire experience has been humbling and traumatizing, to say the least. We had so much and now we received gifts from the family. It has also been difficult to adjust to a new reduced lifestyle.
I used to have a walk-in closet, but now everything I have fits in two tall cabinets. We no longer have domestic servants, so I had to learn to cook and clean.
And we can no longer afford vacations or expensive meals. Gone are my usual spa treatments, drinks with friends, and personal training sessions.
I used to spend around $ 20,000 a month on myself alone, but now I’ve dropped to $ 1,500, sometimes less, and I’m trying to save most of it because I don’t know how long it will take for us to get our finances back on time.
Despite our money problems, I am thankful that my family still has a roof over our heads and food. My marriage could be better, Terence and I don’t have the best relationship right now and he’s under a lot of stress, but we are still together, solving our problems, and that’s what counts.
We are trying to move on. Terence is desperate to rebuild his companies and has vowed to be more cautious before making deals again. Our son still worries that we are homeless, but other than that, he’s coping well; children are tough.
As for me, this experience has honored me. In the last few months I have worked hard to give back to others by organizing events and volunteering for charities. I have met people who are much worse off than me, who sometimes survive on just $ 5 a day, and I feel sorry for them.
Our bankruptcy has taught me to take nothing for granted and to be grateful for every blessing that comes my way, no matter how small. “
* Names have been changed
This article was first published on Her World Online.
