Prepare Ahead - Offering Free Budgeting Coaching

Updated: 9/20/2023

Losing a loved one through death or divorce can be debilitating, at least for a time, and the last thing on your mind is finances. But a lot can happen if you ignore your creditors, and none of it’s good. For instance, not paying your bills on time can put you and your family in jeopardy of losing your home, your car or having your utilities shut off. You also run the risk of your credit score decreasing. All of this can be avoided, and stress can be diverted if you have a system in place. With a little bit of knowledge, you can be worry-free during the worst of times. It doesn’t take much to prepare but it sure takes a lot when you don’t.

One major problem when tragedy strikes is not having the information you need to pick up where someone else left off. If your spouse did all the finances and bills, you’ll at least need to know where everything is online and off. This means having a filing cabinet and/or having a list of who you owe (names of creditors), account numbers, where your money is (name of all banking institutions) and online logins (use names, email addresses and passwords). You’ll also need to know if there are any life insurance policies and if social security comes into play.

 

Here are some questions you and your spouse, if you’re married, should ask yourselves:

 

1). Do I know how to access our accounts?

2). Is the login information written down and accessible?

 

DECLUTTERING

Part of preparing for homeownership and unforeseen situations in life is learning how to declutter. When we declutter our home we also declutter our minds. Having a decluttering mindset allows you to say no to impulse or emotional shopping for items that you really don't need and later may not even want. If you think decluttering is a good move for you, check out this interview by Rachel Cruz with Dawn, the Minimal Mom. 

These are common but important things that can get overlooked while living life. For this reason, we offer FREE Budgeting Coaching to anyone who is dealing with the loss of a spouse either through death or divorce. Or, if you would like to get your finances in order and learn how to create a budget, we’d be happy to help with that as well. If you have your eye on buying a home or investment property in the future, there’s no time like the present to get yourself prepared. So get in touch and let’s get started!