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When you hear the term self-care, ledgers, spreadsheets, and investment accounts typically don’t come to mind. However, maintaining financial order in your personal life is a way to take care of yourself. Historically, women have left money management in the hands of their spouses, but this is a terrible practice for more reasons than one.
According to a UBS Global Wealth Management survey of more than 1,800 men and women, nearly half of women today still leave financial and investment decisions up to their husbands. Even if your spouse happens to be more financially savvy than you, you should never be left in the dark or check out of money management altogether because ignorance most certainly is not bliss when there’s money involved. For one, you’ll want to have a firm grasp of your marital finances, but it’s even deeper than that. You also don’t want to play the role of a spectator when it comes to your financial future.
If you have allowed your spouse to be the primary decision-maker regarding your finances, it’s never too late to step up and get involved. Here are 10 ways to start.
Life insurance
The first thing that you’ll want to do is secure a life insurance policy for yourself aside from the ones that may be offered by your employer as most of those are only valid while you are employed with that particular company. No mom wants to pass away suddenly and leave her partner and children in a financial bind.
