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    Sticky Money Monday: Help, How Do We Financially Plan a Divorce?

    enDecember 05, 2022

    Podcast Summary

    • Revolutionizing investment tracking with ShareSiteTake charge of your investments and communicate effectively in all aspects of life, using innovative tools like ShareSite and assertive communication skills.

      ShareSite is revolutionizing investment tracking with its comprehensive investment dashboard that supports over 500,000 stocks, ETFs, and funds, and integrates with over 200 platforms. It offers a more detailed and organized view of financial performance, including analyzed reports, dividend gains, and currency fluctuations. For those looking to level up their investment experience, ShareSite is offering a special deal of 4 months free with an annual premium plan. On a different note, during this week's episode of "Girls That Invest," the hosts discussed the importance of standing up for oneself and communicating thoughts and feelings effectively. Simran expressed her feelings of being labeled as the "expert mean friend" and the need to communicate in a way that's not blindsiding others. Sonya encouraged Simran and all women to know their boundaries and communicate assertively, which can be a game-changer. Overall, the key takeaway is to take charge of your investments and communicate effectively in all aspects of life. Whether it's through using innovative investment tracking tools like ShareSite or standing up for yourself in personal relationships, it's essential to be proactive and assertive.

    • Financial challenges for women after lockdown breakupsWomen facing financial hardship after lockdown breakups need resources and support to become financially independent. It's crucial to acknowledge and address this issue, encourage financial involvement, and consider long-term financial goals.

      The aftermath of the COVID-19 pandemic is expected to bring financial challenges for many women, particularly primary caregivers who are now facing the reality of being a single income household or re-entering the workforce with young children. This situation is especially difficult when the ex-partner is not contributing much financially. Divorce, and the financial implications that come with it, can be a complex and sticky issue, with many layers that need to be addressed. It's important for women in this situation to seek resources and support to help them become financially independent. The trend of lockdown breakups may have left some women in unexpected financial hardship, and it's crucial to acknowledge and address this issue as we move forward. It's important to encourage women to be involved in the financial aspects of their relationships and to consider their long-term financial goals and stability.

    • Divorce Challenges Women FinanciallyDivorce can financially burden women disproportionately, highlighting the importance of seeking support and fair representation during asset division discussions.

      Women going through a divorce often face significant financial challenges that men do not experience to the same extent. Women may feel overwhelmed and under-represented in financial decisions during the marriage, and the consequences of divorce can be devastating for their livelihoods and their children. It is crucial for women to seek support, whether from friends, community resources, or professionals such as mediators or lawyers, to ensure they are fairly represented during asset division discussions. The emotional and financial burden of divorce can be overwhelming, but having a strong support system can help women navigate this difficult time.

    • Navigating Divorce and Growing BusinessesDuring divorce, prioritize self-protection and seek support. For businesses, adopt tap to pay on iPhone and Stripe for increased revenue, reach, and customer experience.

      During a divorce, it's essential to have a supportive network to help navigate the emotional and practical aspects of the process. The transition from a loving relationship to a business transaction can be surprising and stressful. However, it's crucial to remember that protecting oneself and one's financial future is not being "the bigger person." Instead, it's an essential step in the divorce process. Moreover, for business owners, every transaction, including divorce proceedings, carries significant importance. Therefore, it's exciting to introduce tap to pay on iPhone powered by Stripe, a game-changing solution that simplifies the way businesses accept payments. This contactless payment method requires no additional hardware and caters to businesses of all sizes, enabling them to accept payments seamlessly and quickly. By adopting tap to pay on iPhone and Stripe, businesses can increase revenue, expand reach, and enhance customer experience. In summary, during a divorce, having a supportive network and prioritizing self-protection are vital. Meanwhile, for businesses, the adoption of tap to pay on iPhone and Stripe can lead to increased revenue, expanded reach, and enhanced customer experience.

    • Identifying Personal Goals and Priorities During Separation or DivorceDuring separation or divorce, reflect on personal goals, non-negotiables, and priorities for children. Seek support from a network and consider legal representation. Adjust finances to prepare for a single income household.

      During a separation or divorce, it's crucial to identify personal goals, non-negotiables, and priorities for the children. This can be achieved through self-reflection and writing down key points. Reaching out to a support system, such as friends, family, or community resources, can also provide valuable insights. Legal representation is essential, and there are options for those who cannot afford expensive lawyers. Additionally, examining and adjusting finances is crucial to prepare for the financial changes that come with a single income household. Overall, taking the time to prioritize personal needs and seek support can help navigate the challenging process of separation or divorce.

    • Overcoming Employment GapsEmployment gaps are less of a barrier due to workplace flexibility. Consider part-time roles, less tolling jobs, online learning, or content creation to get back into the workforce and build skills. Employers should keep an open mind towards employment gaps.

      Employment gaps, whether caused by taking a break or other circumstances, should not be a barrier to getting a job or advancing in your career. The workplace is becoming more accepting and flexible, especially in the wake of the pandemic. If you're looking to get back into the workforce, consider starting with part-time roles or less tolling jobs to get your foot in the door and build your skills. Online learning and content creation are also great options for upskilling. Employers and recruiters are encouraged to keep an open mind when seeing employment gaps, especially during these uncertain times. Your value as a worker is not determined by your employment history, but by your skills, organization, and dedication. The stigma around employment gaps is outdated, and it's important to remember that you have the power to shape your own career path.

    • Preparing Financially for DivorceUnderstand finances with partner, have emergency fund, consider prenups to mitigate financial toll of divorce

      Relationships involve trust, commitment, and mutual respect. However, not all relationships last forever, and when they end, the financial consequences can be significant. It's crucial to be prepared for potential financial instability during a divorce. This can include having an emergency fund, understanding your finances with your partner before marriage, and considering a prenuptial agreement. It's also essential to believe women who share their experiences of being left financially vulnerable during a divorce. These stories can provide valuable insights and lessons for those currently in relationships or considering marriage. Ultimately, taking the time to listen, learn, and prepare can help mitigate the financial toll of a divorce.

    • Stay informed and seek guidance when neededStay updated on market trends and economic news, seek advice from trusted sources, and remember that investing involves risks.

      If you find yourself in a challenging investment situation, don't hesitate to reach out to Girls That Invest for advice. Our team is always here to help and we may even feature your story on our podcast. Keep in mind that investing involves risks, and it's important to do your research and seek guidance from trusted sources. Stay informed, stay curious, and don't be afraid to ask for help when you need it. Happy investing! Additionally, we discussed the importance of staying up-to-date on market trends and economic news. Being informed can help you make better investment decisions and stay ahead of potential risks. We also touched on the importance of having a diversified portfolio and not putting all your eggs in one basket. Overall, the key takeaway is to stay informed, seek guidance when needed, and remember that investing involves risks. By staying informed and making informed decisions, you can increase your chances of success in the world of investing.

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