Securing the bottom line

KNOW YOUR FINANCES

Start by checking balances online and downloading your proof of balance or speak to your bank branch manager about your financial situation. Pull together a list of you and your partner’s assets and liabilities, using a tool like Westpac’s Separation Calculator.

PROTECT YOUR PRIVACY

Privacy is paramount, as it allows you to establish financial independence as quickly as possible and helps ensure your financial assets are protected. Changing passwords and pin numbers are easy first steps and consider opening a new bank account. Consider putting a temporary lock on your card, decrease spending limits, set up account alerts and keep an eye on your balances.

SUPPORT NETWORKS

Breaking up is rarely easy, so find people you can lean on and trust. This could be friends, family or professional advisors who can help you such as an accountant, lawyer, financial planner and psychologist.

CONTACT CENTRELINK

You might qualify for government assistance, so inform Centrelink of your changed circumstances as soon as you can.

GATHER DOCUMENTATION

Back up your computer and create a shared assets summary. Consider superannuation, property, and share statements, payslips, tax returns and other financial records.