How’s your relationship going to survive lockdown?
Expert Lynda Moore gives us two important money actions
If you realise your relationship won’t survive lockdown what can you do from a financial point of view to make it easier to separate afterwards?
If you’ve just run out of love – and you can talk to each other – sit down together and look at your numbers and planning done while in lockdown. Build an exit strategy for you both. Splitting the assets – who gets what – know the income picture.
Or if you are in an incredibly toxic and dysfunctional relationship and are struggling – sitting down together is too hard. In this situation it’s down to you to do the preparation for yourself. What do you own? What do you owe? Download bank statements, look at your insurances; what are your expenses. Plan for your life as an independent person.
It’s also a time to “ask Mr Google” questions – many online resources are from the USA and their laws are different from New Zealand.
One resource we can offer is on Equal Exes Online – the Money cornerstone has a lot of good information.
Lynda is one of our Expert Advisors – click on Money Mentalist in our Experts and send her an email to book a session.
Further Resources from Equal Exes
Get more help with Money
Go to our Cornerstone page Money and take the quiz to work out your situation.
You can get all our advice on Money and the 7 other Cornerstones from our Members website area – this is a self-learning private area where all our expert advice to help you manage your journey through separation and divorce is available in one go.
There’s also a Free ebook to help you understand key money questions to ask during divorce or separation.
Read other articles about Money and Divorce / Separation
Helpful advice from our Expert advisor Brigette Arnold of Cambridge Partners Positive moves to protect your financial wealth during COVID -19
- Firstly for the “big financial stuff” wait and see – don’t make rushed decisions
- For your own household accounts since you are probably spending less, put whatever you can afford into savings, cut back on non-essential spending.
- Check your investment portfolio is balanced in different risks and different markets
- Stay invested in the long term goals of your portfolio and control your emotional response to the financial market turmoil.