EP9: Strategy is in the Numbers with Michelle Gabor, MBA, CPA

Jun 1, 2018

One of the most overwhelming and intimidating aspects of a divorce is its financial aspect. Most women going through it find it difficult to manage their finances, along with all the other things to think about. How can they exactly prepare for it when they are in this situation? Today’s guest, Michelle Gabor, MBA, CPA walks us through the process of taking charge of our assets.

Talking finance does not need to be baffling. If women are properly guided by the right people and they explore their options, talk about finance would be one less thing to worry about.

Michelle Gabor, MBA, CPA guides people going through divorce in financial management. She works as an advisor to women so they can regain financial stability and get expert help.

TOP TAKEAWAYS:

• How can we check financial statements and who can we ask help from.
• What documents should we gather and review which can be used for financial planning
• Who are the people we can ask for guidance when it comes to financial management
• Why having a checklist for the process of managing finances can be a huge help
• Michelle breaks down what assets and cash flow are and what should women do about them
• How can women budget effectively and what should they change to be able to stick to their budget

Michelle shares some tips on how women can prepare for the financial aspect of a divorce:

• It’s better to have three years worth of documents (your tax returns and bank account statements) because it will contain valuable information and assets.
• You should also gather documents about mortgage, loans, appraisal statements, and documents with the children’s names.
• It’s a must to prioritize items by the dollar value when talking about finance.
• Set a realistic budget for your behavior - no matter how cumbersome it is!

RESOURCES:

Get in touch with Michelle Gabor by visiting the MGW Real Strategies website at www.mgwrealstrategies.com

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Be sure to reach out if you would like to connect personally with The Women’s Financial Wellness Center. You can visit our website at https://www.womensfinancialwellnesscenter.com or grab a complimentary 30-minute consult at http://bit.ly/dashboardwfwc.

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