Guest Author - Sharon Michaels

Divorce can be devastating in so many ways - emotionally, physically and financially. It’s the monetary affect that many women worry about most.

Here are some facts:
~Many women face at least a 40% decline in their standard of living after a divorce.

~Many women are not prepared financially to go it alone.

~Many women are new to being the sole “bread winner.”

~Many women emotionally shut down at the thought of bills, debt and taxes.

Divorce affects the heart and the head. Both hurt with the reality that life has changed dramatically. Change doesn’t always come easily, especially when it may not have been your choice.

You have within you, right now, the power to create abundance, wealth and unlimited prosperity. You do not need to live in fear of the future.

It’s time to sit down and have a heart-to-heart with yourself about the life choices you’ll be making. You can either be reactive or proactive with your money. Personally, I’ve found the sooner you begin putting your financial house in order, the brighter and stronger your financial future.

No better time than now to begin the first steps toward financial independence.

1. Money management begins with the belief that you can manage money. Take a long hard and honest look at where you are presently. Look at income, debt, savings and monthly expenses. Where do you stand financially?

If the reality of it all feels frightening or depressing, acknowledge it. Feel the emotion and honor your feelings. All of this is part of the healing process. It’s a part of the new and empowered woman waiting to emerge.


2. You have as much power as anyone to make money and thrive financially. How? By believing in yourself and your ability to become financially self-sufficient and independent. Believing in yourself will attract the right opportunities and people into your life. If believing in your ability to thrive is a little shaky then begin by reading, listening and working with self-development materials. This personal inner work is just as important as the outer work.


3. Now that you have a clear picture of the present, it’s time to set your sights on the future. It’s time for some monetary goal setting.

Start with short term goals; like buying a new car within six months to a year, getting your hair colored and cut in two months or going to a fancy restaurant with friends in four weeks. Stretch yourself but also be realistic. In dollars and cents, what’s it going to take to go positively forward day-to-day, month-to-month and year-to-year?


4. How many ways can you make your financial goals reality? How about asking for a raise, stepping up the momentum in your business, taking a second job or cutting back on expenses?

This is also the perfect time to consult with a professional financial planner or money manager. These professionals are trained to help you plan, organize and achieve your monetary goals. They can teach you how to budget, manage and invest your money. Wealth doesn’t happen by accident!


5. Make time to organize your finances. It sounds simple but it isn’t always as easy as it sounds. Do you know which bills come in on which days of the month? How about reviewing you bank statement regularly?

There is a sense of relief and accomplishment when you pay your bills on time. It not only helps you feel good on the inside, it also helps rebuild your credit score.

Start with a filing system or use a computer program to stay organized. You may want to take a look at a free budget tracker software called “Keep Your Ducks In A Row” at http:/www./ducksoftware.com/budgettracker.html


6. Now is the time to cultivate positive money habits. If you truly want financial security and independence, start one day and one dollar at a time. Where can you begin saving a few dollars here and there? It can be as simple as collecting that loose change from the bottom of your purse and putting it in a piggy bank.


7. Look at this change in your life as first steps toward financial freedom - one step at a time, one dollar at a time. Use this time wisely and stay focused on your goals. Abundance and wealth could be just around the corner. Here’s to your financial independence!


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You may want to take a few minutes to visit my website www.SharonMichaels.com for more empowering suggestions, tools and tips.