Karen, from Irvine, California, called into The Ramsey Show to seek advice about her living situation. She is newly divorced with full custody of two teenagers and currently pays $8,000 in rent on a $5,600 income.

Dave Ramsey, famed for his financial expertise, asked Karen what she got from the divorce.

"We sold the house," Karen says. "So, in a bank, in a high-yield savings account right now, I have about $1.3 million just sitting there. And I'm just trying to figure out what to do with it ... I really don't want to touch it. And then I'm getting some alimony/spousal support, but it's only for six months, and that's $15,000 a month."

Karen said she has her car and credit card debts paid off but feels like she's fighting an uphill battle trying to make ends meet in an area where the cost of living is so high.

According to Best Places, the cost of living in Irvine is about 65% higher than the U.S. average and 10% higher than the California average. Plus, it costs about $1,128,000 to buy a home compared to the U.S. average of $338,100. To live comfortably in Irvine, Best Places states that a family would need a minimum annual income of $216,000.

Karen tells Ramsey that she's not "living high on the hog" and is living a fairly basic lifestyle. "But you're in Irvine," he responds. "You're in one of the most expensive real estate markets in the world."

Throughout the call, it is clear that Ramsey empathizes with Karen and her situation, but it's also clear that she won't be able to sustain her current living situation. "I’m sorry that your husband was an addict, and I’m sorry he left his children in a lurch. But they can’t live in Irvine anymore. You don’t have the money. And so, as heartbreaking as it is, the best thing you can do for them is to create a stable environment. And you know you’re not in one. If $8,000 is the cheapest you can find there, you gotta go somewhere else kiddo. I’m sorry."

Karen is not alone in her struggles. According to a Forbes report, about 43% of first marriages end in divorce, and that rate is even higher for second (60%) and third (73%) marriages. As per NerdWallet, the median single-parent income in the U.S. is about $43,000, while the average cost of living for a single-parent family is $49,000 per year. Of course, these numbers vary drastically depending on where you live, but expenses are often more than what single parents are bringing in.

With divorce rates high and single-parent incomes falling below the cost of living, many people face similar struggles. Seeking advice from a financial advisor can provide personalized guidance on managing assets, budgeting effectively, and planning for the future. Many advisors offer free consultations to discuss your financial situation and goals. Don’t hesitate to contact someone for professional guidance — it could be the key to securing your financial future and providing stability for your family during a trying time.