Separating after a relationship break down can be tough. It’s a period of high emotional stress and difficulty. Getting your finances sorted is one of many important things you need to think about.
Research shows that most people suffer financially after separation.
For most people it takes around 5 years to start to recover financially but they remain financially worse off than married couples for a long time. It is also clear that divorce and separation has a big impact on wealth accumulation and retirement due mainly to selling property and splitting superannuation.
In this program we’ll help you take stock of your financial situation, understand the financial help available, rationalise your spending, build a new budget and set yourself up for the future.
Over 8 weeks we’ll help you:
- Setup your MoneyBrilliant account, connect all your accounts and set up all your assets and liabilities
- Take stock of your current financial situation including documenting your previous income and spending and preparing a balance sheet
- Figuring out your new income (including the financial assistance that might be available) and spending (including finding ways to cut your spending if you need to) and setting a new budget
- Setting yourself up for the future with the right bank accounts
- Getting your superannuation sorted
- Dealing with loans and mortgages
- Updating your Will and other estate planning issues
- Sorting out your insurance including general insurance, health insurance and personal insurance like life and income protection insurance
- Setting savings and retirement goals
- Understanding how financial settlements work and how they are determined
You will also be invited to join an exclusive Facebook Group just for Separation and Money program participants where you can share ideas and talk with your Money Coaches.
You will need to comply with some basic rules to help make sure you get the results you are looking for. The rules are:
- You must have a MoneyBrilliant Plus subscription (this will cost you $9.90 a month or $99 for a year)
- You must connect at least your main transaction bank account and credit card (assuming you have one) to your MoneyBrilliant account and do whatever else might be necessary to have your main income and expense data coming into MoneyBrilliant – we need this data to help you
- You must complete the initial MoneyBrilliant profile setup questions accurately – we need this data to help you
- You must make a reasonable effort to complete each of the tasks we give you. If you don’t we may ask you to leave the program
The Separation and Money program is for customers only – so if you are an adviser, lawyer, accountant, mortgage broker and you are interested in the program please contact us directly.
Places on each Separation and Money program are limited. If you register and miss out we will put you on the waitlist for a future program.
You can register here.