Pre divorce financial planning why your checking account matters

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A Pre-Divorce presentation that discusses why having your own separate checking and savings account is crucial to pre and post divorce success.

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Pre divorce financial planning why your checking account matters

  1. 1. Pre-divorce financial planning<br />Why Your Checking Account Matters!<br />Get more pre-divorce info at www.predivorcestrategy.com<br />
  2. 2. Money is not why marriages break up<br />“Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the “gotta have it” scale.” –ZigZiglar<br />Money isn’t why marriages break up; the lack of it or the misusage of it always is<br />The answer to the money issue is not to blame the other person for what overspending or under-budgeting or not saving he or she did; the point is to realize that until YOU get your financial house in order, there’s no way you can ask anyone else to <br />Get more pre-divorce info at www.predivorcestrategy.com<br />
  3. 3. We attract who we are <br />We attract who we are; this is especially true when it comes to money<br />If you find yourself blaming your spouse for all of your money troubles, it’s time to take a look in the mirror and ask a tough question: “Where am I like that?”<br />One of the greatest tools to becoming a better financial steward comes in having your own, separate checking and savings account <br />Get more pre-divorce info at www.predivorcestrategy.com<br />
  4. 4. Why not have a joint account?<br />In the pre-divorce process, you’re trying to decide if you’re going to stay in the marriage or get a divorce<br />Keep the joint account with your spouse<br />But it’s time you got your own personal checking and savings account, not because you’re going to suck the joint account dry (never do this) but because you need to do a self-check to see if you can wisely budget and save your own money<br />Get more pre-divorce info at www.predivorcestrategy.com<br />
  5. 5. What a Personal Checking/Savings Will Do For You:<br />Teach you how to keep track of what’s being spent and saved<br />Boost your financial self esteem so you know that you can manage your finances on your own<br />Give you a cushion of funds that only you can touch for the time being <br />Build a savings that only you have access to that can be accessed either post divorce or when the marriage is in a better place<br />Help you take financial control of your life in your own way <br />Get more pre-divorce info at www.predivorcestrategy.com<br />
  6. 6. Dos for Opening Your Own Account<br />DO go to a different bank than the one where you hold your joint account<br />Bank tellers, esp. in small towns, know you and your family; they may be more prone to give your spouse access to an individual account (although it’s totally against policy) when you open the separate account in the same place that you have the joint account<br />It happens <br />DO have statements sent to a family’s address or a P.O. Box if you don’t want your spouse to know that you’ve opened this account<br />Sometimes the fear is about your spouse expecting you to turn over that money for frivolous reasons; sometimes the fear is that your spouse will know your pre-divorce plans<br />Regardless, send the statements to another address or request paperless statements that are emailed rather than mailed <br />Get more pre-divorce info at www.predivorcestrategy.com<br />
  7. 7. DONTs for Opening Your Accounting<br />DO NOT close the joint checking account you currently hold or suck that account dry and put it into your individual account<br />Be fair to your spouse; what you’ve built together is joint property<br />Consult an attorney before doing anything that would result in taking away your spouse’s half <br />DO NOT use the opening of a new account as a means for getting access to new credit cards, lines of credit or more debt<br />The last thing you need, in the pre-divorce process, is more debt <br />DO NOT open a separate checking without also opening a separate savings<br />Budget 101 is this: Keep spending accounts separate from savings account and ALWAYS save something, even if it’s $2.00<br />Get more pre-divorce info at www.predivorcestrategy.com<br />
  8. 8. Final Thought<br />The pre-divorce process is a learning process<br />Use this time to develop your financial planning, budgeting, and savings skills<br />Whether you divorce or not, being a good financial steward is a requirement for life success<br />Learn it pre-divorce so you don’t have to pay for it post-divorce! <br />Get more pre-divorce info at www.predivorcestrategy.com<br />
  9. 9. Do You Need a PreDivorce Plan?<br />Learn how to create the ultimate pre-divorce success blueprint!<br />Visit Pre-Divorce Strategy Made Simple at www.predivorcestrategy.com<br />You’ll find free tips, tools and articles to help you navigate the pre-divorce process <br />Get more pre-divorce info at www.predivorcestrategy.com<br />
  10. 10. Contact Information<br />Web: www.predivorcestrategy.com<br />Email: kvaughn@predivorcestrategy.com<br />Phone: (818) 279-2698<br />Facebook: http://tinyurl.com/predivorcestrategy<br />Twitter: http://www.twitter.com/predivorceplans<br />PreDivorce Radio Show: www.blogtalkradio.com/predivorcestrategy<br />Get more pre-divorce info at www.predivorcestrategy.com<br />

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