Written by: Rachael L. DeCosta, CDFA®
Whether or not you subscribe to Glennon Doyle’s philosophy of consistently trying to improve the status quo, even when – or perhaps especially when - it is uncomfortable, one thing most women can agree on is Doyle’s mantra we can do hard things. We all have our own perspective on what constitutes a hard thing, however the following are hard things other women shared that they have overcome:
What are some of your hard things?
- Prioritizing wellness.
- Losing the COVID ten (or 15).
- Fixing a broken dishwasher.
- Quitting your job and transitioning to a new career, or retiring.
- Divorcing or leaving a partner.
- Developing and committing to a budget.
- Having a child later in life.
- Sending your child to college.
Are any of these relatable?
Do you prioritize yourself?
Research and personal experience suggest the hardest things for many women is to ensure their crowns are on straight and that their oxygen masks are put on first. I am convinced that as women, we are genetically built to be caretakers; so often we prioritize taking care of others that we find ourselves acquiescing rather than prioritizing our own needs.
When we do this, we often make choices that do not add to our happiness and overall well-being. We cannot lose sight of the importance of making the best and informed decisions – even when those decisions are uncomfortable - as it will provide the fortitude to support the people and passions most important to us.
Is your Financial Security top of mind?
Not surprisingly, when women are in transition or recently single, financial security is top of mind and important decisions need to be made. Anecdotally, these are some of the questions we are frequently asked:
- Do I have enough money?
- What if I cannot find another job?
- What if I do not get the divorce settlement I deserve?
- Do I need to go back to work full-time?
- Will the quality of life for my children change?
- How do I get a job, I stayed home to raise the kids and have no skills?
- Will I be ok?
Is this your reality?
A recent survey of divorcees and widows performed by UBS Financial Services suggests these concerns are quite normal, the following are some of the results:
- 97% of divorcees/widows encourage other women to become more financially educated.
- 87% of divorcees/widows say one of the most pressing concerns is cash flow and ensuring all bills are paid.
- 72% of divorcees/widows say that meeting their children’s financial needs is very important.
- 61% of divorcees/widows found at least one financial surprise and 75% attributed these surprises to decisions made by one spouse unbeknownst to the other.
Think about your own financial security, do you feel safe in the short-term? Mid-term? How about during your golden years? It is important to breathe and think about, what financial security looks like to you. At Sandbox Financial Partners we are committed to accompanying you on your journey so that you can Live Well and Worry Less.