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Wealth
Financial Advice for Women Going Through a Divorce
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The Great Wealth Transfer
Written after attending “The Great
Wealth Transfer Conference”
Two weeks ago I went to ” The Great Wealth Transfer Conference” organized by Ann Sieg and her 80/20 Marketing Team. I wanted to let the information simmer in my brain before I put pen to paper.
My mission is to guide women to financial stability and security so they can have peace of mind for themselves and their family, and therefore have been studying as much material as I can get my hands on and absorb into my brain.
Budget – Your Next Step in The Financial Planning Process Part 2
So let us begin with a detailed budget for you to use in your financial planning process.
This is the more inclusive budget. It took a lot of thought and planning and I hope it will prove helpful to you. This is the one to use when you are serious with your financial planning process.
To make it easier for you, I’ve broken up the budget data into categories. This should help significantly with your financial planning process. If I missed something, I do apologize up front and will welcome your suggestions!
This is an extremely comprehensive budget – you will fill in the categories that fit you and your lifestyle. Stay focused on your goal – being involved and responsible in your financial planning process.
Budget – Your Next Step in The Financial Planning Process
A comprehensive list of items for a personal monthly budget or how not to be caught at the end of the month with a list of needs and no money to pay for them is crucial in the financial planning process.HOW TO SET UP A PERSONAL BUDGET- The Next Step in The Financial Planning Process
You may ask yourself the question – why do I need to do this? Most women are not used to budgeting – we may tend to be impulsive and end up with a list of needs at the end of the month with no money left to cover them. “Too much month left at the end of the money” syndrome and obviously no involvement in the financial planning process.
I had first set up a list of monthly expenses and even though , as my financial advisor told me, I included more information than most, boy did I miss a lot. You need to be specific if
you are going to do an accurate accounting for your financial planning process.
The Elevation Group
The Elevation Group provides an in depth presentation to help you understand how I’m learning to manage my finances.
Inventory Your Financials – The first step in the Financial Planning Process
The first step in the Financial Planning Process
Remember the first step in making positive changes is to become aware. You need to collect all appropriate paper work so you can start your financial planning process.
What if you woke up tomorrow with an emergency situation?
The time for figuring out what you have and how to manage it, is NOW before a crisis arises. This step in the financial planning process is critical for not only single women but those with partners as well. What would you do if your significant other wasn’t around ? What if your significant other became violently ill or g-d forbid died?
This goes for anyone who had an experience like myself – where I thought a certain amount of money was still in the account I had transferred it to – as well as for a woman on a strict single budget, all the way to an extremely wealthy woman who has no idea how her husband is managing their money and assets. Maybe he does not want her to know or he likes to feel that he is more knowledgeable about the financial planning process (somewhat the “control” thing).
Let your significant other know you truly value what he has done but that now you’d like to be involved in the financial planning process.
