Comments on: There is No Such Thing as Divorce Insurance - Why Financial Ignorance is Far From Bliss http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html Bridging the gap between saving money and investing Wed, 08 Oct 2008 01:23:27 +0000 http://wordpress.org/?v=2.6.1 By: Gabrielle http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-294224 Gabrielle Mon, 28 Apr 2008 16:54:51 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-294224 Oh my God! how right this article is. I am a highly educated, '"ntelligent" woman that put my financial power in the hands of my husband. I never thought I could get a divorce, and now at the edge of one I find myself, unemployed, no carreer, no savings, no house..nothing!!!! and with three children.. I know he will continue supporting the children..but, what about me? while I am looking for a job I still have to pay, rent, utilities, etc. what if a get sick? I wish I could have been smarter and prepared myelf for the unthinkable.. I feel like such a fool.. Oh my God! how right this article is. I am a highly educated, ‘”ntelligent” woman that put my financial power in the hands of my husband. I never thought I could get a divorce, and now at the edge of one I find myself, unemployed, no carreer, no savings, no house..nothing!!!! and with three children.. I know he will continue supporting the children..but, what about me? while I am looking for a job I still have to pay, rent, utilities, etc. what if a get sick? I wish I could have been smarter and prepared myelf for the unthinkable.. I feel like such a fool..

]]> By: All Women Blogging Carnival is here! : redsultana.com http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-275751 All Women Blogging Carnival is here! : redsultana.com Wed, 02 Apr 2008 14:09:18 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-275751 [...] presents There is No Such Thing as Divorce Insurance posted at SavingAdvice.com Blog, saying, “It’s important not to rely on your partner [...] [...] presents There is No Such Thing as Divorce Insurance posted at SavingAdvice.com Blog, saying, “It’s important not to rely on your partner [...]

]]> By: Barbara Stanny http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-119284 Barbara Stanny Thu, 27 Sep 2007 21:50:49 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-119284 Bravo, Meredith. I love what you had to say. You are so right: "financial ignorance is far from bliss." Studies show, however, that most women do NOT get serious about managing money until they hit a crisis...the worst time to start. I've written a book on the topic: "Prince Charming Isnt' Coming: How Women Get Smart About Money." And I've just started blogging about it. I'd love to invite you to my site. Keep up the great work! Barbara Stanny Bravo, Meredith. I love what you had to say.

You are so right: “financial ignorance is far from bliss.”

Studies show, however, that most women do NOT get serious about managing money until they hit a crisis…the worst time to start.

I’ve written a book on the topic: “Prince Charming Isnt’ Coming: How Women Get Smart About Money.” And I’ve just started blogging about it. I’d love to invite you to my site.

Keep up the great work!

Barbara Stanny

]]> By: JEM http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-118582 JEM Wed, 26 Sep 2007 17:41:15 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-118582 I agree with you. I have the opposite problem. My husband wanted nothing to do with our finances. He has no idea where our money is, what our budget is like, how much we are saving for retirement, or anything else. I asked him the other day how much our mortgage payment is each month and he guessed wrong by 400 bucks! I am always trying to involve him but he just isn't interested in money. He hads his paychecks over to me each month and lets me have full control. Although I really enjoy manageing our money, I wish he showed more interest. I also worry about what would happen if I died. I love him but he is clueless. I agree with you.

I have the opposite problem. My husband wanted nothing to do with our finances. He has no idea where our money is, what our budget is like, how much we are saving for retirement, or anything else. I asked him the other day how much our mortgage payment is each month and he guessed wrong by 400 bucks! I am always trying to involve him but he just isn’t interested in money. He hads his paychecks over to me each month and lets me have full control. Although I really enjoy manageing our money, I wish he showed more interest. I also worry about what would happen if I died. I love him but he is clueless.

]]> By: Spend Your Money! Quit Your Job! @ The Carnivals » Money and Personal Finance Blog In Silicon Valley http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-118492 Spend Your Money! Quit Your Job! @ The Carnivals » Money and Personal Finance Blog In Silicon Valley Wed, 26 Sep 2007 14:15:24 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-118492 [...] There is No Such Thing as Divorce Insurance @ Saving Advice [...] [...] There is No Such Thing as Divorce Insurance @ Saving Advice [...]

]]> By: Carnival of Personal Finance #119 - Blunt Money http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-116910 Carnival of Personal Finance #119 - Blunt Money Mon, 24 Sep 2007 12:57:34 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-116910 [...] Advice presents There is No Such Thing as Divorce Insurance. Don’t rely on your partner to take care of all your [...] [...] Advice presents There is No Such Thing as Divorce Insurance. Don’t rely on your partner to take care of all your [...]

]]> By: Mark http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-116658 Mark Mon, 24 Sep 2007 05:42:06 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-116658 I agree with you but for different reasons. I had always encouraged my "ex" to keep working or go to school. She would do neither but wanted to stay at home and "make the big sacrifice". Well, three kids and 20 years later she was bitter, angry, and we were $170,000 in debt, living paycheck to paycheck and still bouncing checks. All with a monthly take-home pay of $7,500. It was crazy and she would NOT go on a budget as she considered it to be an insult and placing limits on her (the budget was for the whole family including me). I had enough and decided I’d rather pay $5,000 per month lifetime spousal support than continue with no hope of retirement and working till departure from this planet. Since leaving her one year ago, I pay $5k monthly spousal support, tripled my income, cut my debt in half, and sleep well at nights. Young people, if you marry, you should BOTH work, husbands should support her work ambitions and encourage schooling and even if the classes are not necessarily career enhancing they would still be “life enhancingâ€?. Agree on this BEFORE you have children. If bride refuses and is steadfast about not working or continuing school, run away before walking down the aisle, because she ain't gonna change her mind after the kids are grown because she is looking for someone to take care of HER, not your future children. If the concern the child’s welfare and upbringing were paramount on her mind, then she should consider her career and education to be important, in the event of your inability to provide an income. In all fairness, it is not often possible to resume a career where she left off, her self-esteem may have diminished, she may feel “left behindâ€? due to advances in technology or former field of expertise. Maybe there are physical reasons because being a stay at home mom does not always develope the healthiest lifestyle. There are many reasons that she may resist resuming her career, some warranted some perceived. At the very least, if two do decide that a “stay at home momâ€? is the best decision for the family, insist that her education continue NO MATTER WHAT so that she can be prepared for the day when, for whatever reason, you are not able to support her. It may be divorce, it may be injury, it may be death. Alone is still that, alone. I agree with you but for different reasons. I had always encouraged my “ex” to keep working or go to school. She would do neither but wanted to stay at home and “make the big sacrifice”. Well, three kids and 20 years later she was bitter, angry, and we were $170,000 in debt, living paycheck to paycheck and still bouncing checks. All with a monthly take-home pay of $7,500. It was crazy and she would NOT go on a budget as she considered it to be an insult and placing limits on her (the budget was for the whole family including me). I had enough and decided I’d rather pay $5,000 per month lifetime spousal support than continue with no hope of retirement and working till departure from this planet. Since leaving her one year ago, I pay $5k monthly spousal support, tripled my income, cut my debt in half, and sleep well at nights.
Young people, if you marry, you should BOTH work, husbands should support her work ambitions and encourage schooling and even if the classes are not necessarily career enhancing they would still be “life enhancingâ€?. Agree on this BEFORE you have children. If bride refuses and is steadfast about not working or continuing school, run away before walking down the aisle, because she ain’t gonna change her mind after the kids are grown because she is looking for someone to take care of HER, not your future children. If the concern the child’s welfare and upbringing were paramount on her mind, then she should consider her career and education to be important, in the event of your inability to provide an income.
In all fairness, it is not often possible to resume a career where she left off, her self-esteem may have diminished, she may feel “left behind� due to advances in technology or former field of expertise. Maybe there are physical reasons because being a stay at home mom does not always develope the healthiest lifestyle. There are many reasons that she may resist resuming her career, some warranted some perceived. At the very least, if two do decide that a “stay at home mom� is the best decision for the family, insist that her education continue NO MATTER WHAT so that she can be prepared for the day when, for whatever reason, you are not able to support her. It may be divorce, it may be injury, it may be death. Alone is still that, alone.

]]> By: Amber http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-116024 Amber Sun, 23 Sep 2007 13:18:49 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-116024 Great post, my boss is this very same woman. I mentioned to her that the state has just added hurricane coerage to automobile insurance and she says to me "I have no idea my husband handles all of that" When I was dating I handled everything and always will Great post, my boss is this very same woman. I mentioned to her that the state has just added hurricane coerage to automobile insurance and she says to me “I have no idea my husband handles all of that” When I was dating I handled everything and always will

]]> By: Julie http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-114882 Julie Fri, 21 Sep 2007 17:23:46 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-114882 Very good article. I have always handle the family finances and always will. Very good article. I have always handle the family finances and always will.

]]> By: John Logan http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-114866 John Logan Fri, 21 Sep 2007 16:45:42 +0000 http://www.savingadvice.com/blog/2007/09/21/101783_there-is-no-such-thing-as-divorce-insurance-why-financial-ignorance-is-far-from-bliss.html#comment-114866 The facts tell the story. The number of women filing for personal bankruptcy is up 700% since 1980 and the most common (40%) contributing factor to their loss of income is divorce. Scarier yet, one in five women who file for welfare as a result of divorce are still on welfare 5 years later. No one wants to consider the possibility of failure when they enter into marriage but when the US Census predicts that people who marry today have only a 33% of ever reaching their 25th anniversary, the risk is real. The facts tell the story. The number of women filing for personal bankruptcy is up 700% since 1980 and the most common (40%) contributing factor to their loss of income is divorce. Scarier yet, one in five women who file for welfare as a result of divorce are still on welfare 5 years later. No one wants to consider the possibility of failure when they enter into marriage but when the US Census predicts that people who marry today have only a 33% of ever reaching their 25th anniversary, the risk is real.

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