Let’s chat about money. Money is a big deal right? This one is close to my heart because when I separated from my husband I had no stable income, he was the main income earner and I was building a business that at that stage could not solely support me and my children. 


Financial fear is debilitating and it can be all consuming. For a lot of you, you’ve gone from being financial stable to not knowing how you are going to survive. It can be terrifying. I want to remove that fear that you are feeling and turn it into excitement to kick-start your newfound financial independence.

My Top five tips for you are these 


1. Get to know your finances. 


What do you earn, what are your essential living expenses, what luxury items can you cut down on or give up for the time being.


2. Create a budget. 


There are plenty of free online budget templates you can download or in the Toolkit I have created a separation budget template for you. You can read more about the Toolkit here.


3. Protect your privacy. 


Things to consider are changing 


  • your pin numbers for debit and credit cards, 
  • online banking passwords and logins 
  • and open a bank account in your sole name.


If you and your ex have joint bank accounts then you need to safeguard your cashflow. To do this think about decreasing spending limits or setting up alerts to tell you when money is being withdrawn from those accounts.


4. Get clear on any joint debt


When you are organising your personal finances don’t forget about the joint debt that you have with you ex. If it’s possible have a conversation about who is going to be responsible for these payments based on your individual financial capabilities. 


5. Consult a professional before dividing your assets


In a perfect world, you and your ex would be able to have an ‘who gets what’ conversation. Unfortunately this is not always the case. Dividing the property pool can be complex. My suggestion is before you start divvying up the property pool you seek some guidance from an expert.


If you need more guidance hit the link in my bio for the The Divorce and Separation Toolkit where I share even more information with you on this topic. You purchase the Toolkit HERE.


Today I want to leave you with this your current situation is not your final destination.

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