Image credit to Steve Wilson via flickr.com
As a business coach I have found (generally speaking) in many cases the females in a relationship earn less income, have less super and often less education and experience because they’ve taken time out from their careers to raise a family and hold that important role of mum. In fact, it’s not just my perception, it’s a statistical fact.
I was speaking with a business owner recently who said that she was concerned about the income from her business. She was specifically concerned because she’d just commenced a trial separation and she knew very clearly her business was not generating enough income to support her and her children.
Ladies, thinking it won’t happen to you? I myself have been both widowed and divorced. Did I think that would happen? Absolutely not! Do not assume your ex will pay child support or ‘do the right thing’ when it comes to the children. Without being morbid, I do have some questions for you as businesswomen:
- Do you have adequate life insurance in place?
- Does your husband have adequate life insurance?
- Do you (and partner) have a current Will and Enduring Power of Attorney?
- Do you have a business which generates enough income to pay the bills?
It’s specifically on this last question I want to focus. You (should!) know your figures. Do you know your household expenses for a month? Not counting your husband or partner’s wage, if you take the expenses from YOUR income, would you survive or be ‘in the red’?
How does that make you feel?
Now the big question – what are you going to do about it?
I raised three sons almost entirely on my own. I didn’t rely on government pensions or handouts from family – I instead built a successful and financial business and now coach business owners on how to achieve their own success and independence. Like to know how? Just call me on 0411 622 666 or email donna@donna-stone.com.au.
