STUCK IN A MONEY RUT?

Let’s talk about money!

It’s up there with topics like politics, religion and sex when it comes to having discussions about it with a partner, a colleague or a friend or your ‘friendly’ bank manager.

Far too many women really struggle financially as an outcome of separation and divorce. And yes, I know a lot of guys do too, unfortunately it’s true for both parties. When you have spent years working towards some financial goals and things fall apart, by the time credit card debt, mortgage, leases on cars and all the other many expenses that are part of everyday life are taken out of what little might be left over after the divorce often what is left is little or next to nothing. Then it’s a matter of starting all over again to create some financial security and wealth, never an easy thing particularly for those who divorce later in life.

Have you found yourself in a financial rut and have no idea how to get your self out?

Here’s the thing!
WE ALL HAVE THE ABILITY TO CHANGE THE DIRECTION OF OUR LIVES!
Including where we are headed financially.

And just like creating any change, the first place to start is by taking a good hard look at where we are. Much like going on a diet, you have to know where you are now and where you want to be and then get focused on the end goal. Make it a project you are working on, a well formed plan that includes knowing exactly what you want to achieve both short and long term.

Start doing the numbers. It can be really scary and most of us like to just bury our heads in the sand rather than deal with what makes us feel uncomfortable. Spend the time to go through all your credit cards, your bills and regular expenses so you know your outgoings. If you have kids there are always things that crop up that we haven’t budgeted for and it really does put a great deal of pressure on parents.

If you have been putting more value of the thrill of going on a shopping spree, having nice clothes and shoes or going a holiday or whatever it might be then I would suggest you spend some time really thinking about your values around money.

When my marriage ended and I became totally responsible for all the bills and other expenses I used a Collins 18 Money Column book. I divided it up into months of the year with my income for each month at the bottom, then all the regular bills in whatever column they were due. I knew at the end of every month whether I was going to be under or over. This system really helped me decide how I spent my money. There are plenty of other great tools available online these days to make it even easier.

If your outgoings are higher than your income it’s time to look at how you can pull back in some area, purchase different brands that are cheaper or take on some extra work. If we are consistently spending more than we earn, there is only ever going to an unhappy ending.

If you are finding it still too difficult to do on your own and can’t afford to speak to a professional advisor, get an accountability partner. Someone you trust to help keep you on track. Make it as much fun as you can and give yourself some little rewards for your little wins along the way.

Many of us turn a blind eye or simply justify our spending habits. Time to take your head out of the sand, look around you and decide what you really want in your life and then do whatever you have to do to make it happen.

A money map so you can see exactly where you are going and what you need to do

  • Persistance
  • Consistency
  • A burning desire to create a happier, more financially secure future
  • And an accountability buddy to make the journey more fun

To share your comments or personal story – send me an email: jenny@divorcedwomensclub.com.au

With love and gratitude

Jenny xx

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About Jenny Smith

Jenny Smith has written 81 post in this blog.

Jenny is an absolute advocate and champion for women rediscovering themselves through the process of divorce.

She is the creator of the Divorced Women's Club www.divorcedwomensclub.com.au and Co-creator of Separation Made Easy www.separationmadeeasy.com. She delivers bespoke programs for women through her coaching services, writing, on-line programs and the Divorced Women's Club Members Lounge, a safe and private community for women to connect, share and support each other.

Jenny Smith

Jenny is an absolute advocate and champion for women rediscovering themselves through the process of divorce. She is the creator of the Divorced Women's Club www.divorcedwomensclub.com.au and Co-creator of Separation Made Easy www.separationmadeeasy.com. She delivers bespoke programs for women through her coaching services, writing, on-line programs and the Divorced Women's Club Members Lounge, a safe and private community for women to connect, share and support each other.