How did that go? Which list was harder to write, the positive or negative one?

It is important to understand your role in managing your family’s finances prior to separation. You need to assess your strengths and weaknesses around financial matters, and to be able to identify where you may need help.

Lack of information about your household expenses or your mortgage can lead to bills remaining unpaid, loss of services, or defaulting on your loan or mortgage payments. Poor money management can put you at risk of losing your vehicle or your home.

Lack of information about your family’s assets and debts can limit your ability to obtain a fair property settlement. You may need to get help from a credit counselor or another financial professional to understand your debts and the options you have to resolve them.

How equipped are you to deal with your new financial situation?

• Do you have enough money to meet your basic expenses?
• Will you need to look for a job?
• Do you have to move?
• Will you need to set up a separate bank account?
• Do you need help to negotiate a temporary order or an agreement for child or spousal support?
• Will you make support payments or will you receive them?

These are important questions and you may have other financial questions that should be answered.  Before you move on, take some time to answer these questions and think about your financial picture.

Did finances play a part in the decision to separate? If so, you may need to seek professional help to understand your responsibilities and your financial obligations. You may need to get professional help to understand your financial options and learn about ways to protect your financial interests.

You may not be good with money. You may be in debt. Lots of people are. What’s important is that you understand your own financial strengths and weaknesses and that you get the help you need to understand your financial picture now and what it will be after separation.

In the next section, you are going to have the chance to take a Money Personality Quiz. The quiz may help you learn about your money personality. Once you complete the quiz for yourself, do it for your former partner. Think about how your money personalities differ.

For each of the questions on the quiz, choose the answer that you think describes you best. There is no right or wrong answer. Be honest and see what the quiz says about YOUR money personality.