Financial planning may seem far off when you are in, or have experienced domestic violence however it is a critical part of the future plan that cannot be overlooked.
In part two of this three part series, the following excerpt is from Chapter Three of This Time Next Year…your guidebook to life freedom!
“It’s the ‘elephant in the room’ – money! The truth is that we all want to be financially debt free, financially independent and financially abundant.
“Be honest. If you knew that no one was going to judge you, try to take you down with negativity or worse yet – be jealous of you for saying what they feel – you would say out loud ‘I want to be 100 per cent financially debt abundant and debt free!’
“When we are at the point of breakdown in relationship, money is the #1 fear that stops us from leaving and creating a life of happiness.
“Especially for women over 50 as we hear all of the stories of lack and struggle. Often times we are also subjected to control language and coercive financial control from our partners.
“It’s at these times that again we need to dig deep and remember that we are resourceful and resilient! In speaking with other women, I have heard fantastic tips including how to be inspired by others and how to maximise taxes paid.”
Throughout the chapter in the book there are key points to include in a financial plan to prepare for either leaving a relationship or even just after.
These include itemising what is jointly owned, making special note of what you own outright and what is associated with loans.
Information on how to access support and resources, having the hard conversations with banks and accountants and outlining future plans with landlords is also included.
One important area that is often overlooked when emotionally overwhelmed is your will and how that is currently set out. You may want to have that changed and if so, prioritising that in your planning is encouraged.
It is also important to seek financial management advice from a reputable person. Family and friends are always keen to help however in strained relationship situations, a third person who is independent is preferable.
There are many organisations that offer this service for free and may be a great place to start.
In the third and final part of this series, I delve into the future prospect of living alone and how to embrace the opportunity.
It is one of the areas that often holds people back from leaving broken relationships however there are steps to breakthrough and thrive. The book ‘This Time Next Year…your guidebook to life freedom!’ is available at info@jayniemorris.com
