While I was going through my divorce a work colleague approached me for advice. Her Aunty Mary had been married to a very successful business man who had managed the couple’s finances during the marriage. Now that Mary was going through a divorce she felt lost as she had no idea how to manage her money. Mary was also unsure about exactly how much money they had during the marriage. All her bank accounts were in joint names and her husband had cleared the accounts so that she had no money. If Mary had her own account and had taken an interest in her own money, she would have found herself in a much more comfortable position after her marriage broke down.
Mary is not alone and there are both men and women who blindly hand over control of their finances to their spouses, managers, accountants and investment bankers. It is important for you to know exactly how much money you have coming in and going out. Take an interest in what is going on with your money because at the end of the day, this is your life and you are the best person to look after your money.