Take some initial steps to reorganise your finances without your partner.
If your partner was the one who took care of the money, find out how things were organised and see if you want to make any changes. Focus on setting yourself up for the future.
- Close off your joint bank accounts
- Do a financial stock take and list all your assets, and any debts or joint debts in your name
- Update your rental agreement
- Seek legal advice about joint bank accounts, property held in joint names and updating your will
If your partner was the one who took care of the money, find out how things were organised and see if you want to make any changes. Focus on setting yourself up for the future.
Adjust to a change in income
Re-establish where your money comes from and where it goes - find and organise all your key financial documents such as utility bills, credit card bills, home loan details, insurance policies and superannuation accounts.
Do a budget and keep it up to date - write down all your income and expenses then look at what's essential and what you could cut back. Saving a few extra dollars each week can add up to a big difference over time.
Re-establish where your money comes from and where it goes - find and organise all your key financial documents such as utility bills, credit card bills, home loan details, insurance policies and superannuation accounts.
Do a budget and keep it up to date - write down all your income and expenses then look at what's essential and what you could cut back. Saving a few extra dollars each week can add up to a big difference over time.
Get financial information and advice
You might need advice to help you make decisions about housing, educating your children or managing your debts.
Your changed circumstances may also affect payments you are receiving or could receive.
For longer-term help to improve your investments and to develop a money plan, consider getting financial advice.
Organise your will, insurance and superannuation
Update your will to reflect the changes in your life.
Think about insurance, including car, home and contents, and income and life protection insurance, especially if you have children.
Getting your superannuation sorted after your relationship ends is an important step in planning for your future.
Organising your finances can make a difference to your future, so speak to Southern Advisory about your options today.
Source: www.moneysmart.gov.au
You might need advice to help you make decisions about housing, educating your children or managing your debts.
Your changed circumstances may also affect payments you are receiving or could receive.
For longer-term help to improve your investments and to develop a money plan, consider getting financial advice.
Organise your will, insurance and superannuation
Update your will to reflect the changes in your life.
Think about insurance, including car, home and contents, and income and life protection insurance, especially if you have children.
Getting your superannuation sorted after your relationship ends is an important step in planning for your future.
Organising your finances can make a difference to your future, so speak to Southern Advisory about your options today.
Source: www.moneysmart.gov.au
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