Many of the women coming to see me are concerned about their ability to negotiate their settlement when separating. They believe they know very little when it comes to the “family finances”.
In a recent poll conducted by Investors Group, 58% of those women surveyed said they were more involved in household budgeting than their partners while 44% feel more involved than their partner in investment and retirement planning decisions.
Understanding household budgets.. where money is being spent now is integral in understanding the implications of any settlement being considered. It’s not just how much is coming in by the way of support payments but how much you spend. Budgeting is a measurement of lifestyle. If your goal is to maintain a “similar lifestyle” after divorce, having a good understanding of what you life cost before and after divorce is key in good negotiations when dealing with divorce.
Give yourself credit ladies.. you know more than you think you do!!