Hello Folks,

Obviously the world is not a perfect place. So, in the unhappy event that your husband or wife leaves you, there are some things you need to immediately.

1) Remove your name from everything. Where possible, get your name off the credit cards, bank accounts, etc. etc. The way to do this is to call the card companies or send a certified letter.

2) Close the joint accounts immediately. If you have joint accounts with your spouse close them. Take your half of the money and have the bank cut a check to your spouse for the other half.

These actions may seem somewhat extreme but sometimes people deal with their emotional conflicts through money. Due to the emotional difficulties involved with divorce some people may feel inclined to act out at their partners via their checkbooks by racking up big bills. You don’t need to be on the receiving end of that.

Also, if you reconcile you can always open up new accounts or credit cards. So if you do these things it doesn’t mean your marriage will be over. You are just protecting yourself.

Thanks,

James

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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