I have built a business on educating, informing and guiding women through the divorce process. So, it was no shock to recently read an article that highlighted how often women concede the family financial management to their husbands. The article outlined that 55% of Women over the age of 50 let their husbands take the lead on financial management. Surprisingly that percentage is not decreasing, but increasing, with 59% of women in the millennial generation following the same pattern. Generations of women have fought for equality but for some reason many of us have chosen to not participate in the financial affairs of our families.
Why is this so important? In a period of transition like divorce or widowhood women put themselves at a massive disadvantage by not having a healthy understanding of their family financials! In divorce the husband has a bit of a “leg up” because he has always known the financials of the family, whereas his wife now must play catch up. This dynamic throughout the divorce process causes vulnerability leading to fear of the unknown and the future, as well as added distrust in what the spouse is providing.
If you are walking through a divorce and are like so many other women, that did not manage the family affairs, then hiring a Certified Divorce Financial Analyst® (CDFA®) is imperative! It is so easy for emotions to take over and drive decisions that are then finalized in the decree. There is a better way! With a CDFA® on your team you have an opportunity to get up to speed on the current financials of the marriage in addition to an understanding of how post-divorce life may look financially. Your CDFA® will also provide an objective view and help you understand the long-term impact of your finite decisions.
At Next Step Divorce Solutions, we empower women walking through divorce by providing the financial tools and education they need to make decisions without fear of the future. As a CDFA® we bring financial expertise to women in divorce, so they are not left holding the short end of the stick. Don’t delay, contact Next Step Divorce Solutions to help guide you through your divorce.