National statistics show that approximately 80 per cent of women will spend at least a decade on their own, while almost 40 percent of Australian marriages end in divorce, leaving many women financially worse off.

These statistics show that financial independence is as important for women as ever. But most women are extremely busy and don't know where to start.

To make the starting point easier, we've developed a short checklist to help you identify the financial issues that you may need to concentrate on:

Simply circle 'yes' or 'no' to the following answers:

1. How financially secure is your wealth?
    - your family would easily meet their obligations and earn an income for many years should something
       unexpected happen to you                                                 YES / NO
   
    - you have ensured that each family member is provided for in the most tax effective way if something
       happened to you                                                               YES / NO
   
    - Your business partners would have enough funds to buy out your interest in the business and create a nest
       egg for your family should something happen to you            YES / NO
   
    - You would have enough funds to buy out your partners interest in the business without impacting on your
       lifestyle and the business would have enough cash flow to hire a suitably qualified person to replace them
                                                                                               YES / NO
   
    - You have made arrangements to receive the income you need if you were unable work due to injury or illness
                                                                                                YES / NO
   
   
2. Does your debt rule your life?
    - You have a documented budget that you stick to, to ensure that the maximum amount is paid off your
       mortgage                                                                           YES / NO
   
    - You have assesed the market to ensure that your mortgage is a competitive product and that it is the most
       appropriate product for you                                                  YES / NO
   
   
3. Are you doing everything you can to ensure a secure retirement?
    - You have calculated how much you will need to ensure a secure retirement and are contributing the
       appropriate amount into Super to enable you to achieve this aim
                                                                                                 YES / NO
   
    - You have discussed with your Financial Adviser the superannuation investments that best suit your needs.
                                                                                                 YES / NO
   
4. Have you left detailed provisions for your loved ones?
    - Your will is current and has been updated by your solicitor within the last two years
                                                                                                  YES / NO
   
    - You have nominated who is to receive your superannuation (including consideration for a binding nomination)
                                                                                                   YES / NO
   
    - Your current estate planning provides for your family in the most tax effective manner
                                                                                                   YES / NO
   
5. Savings for the present - as well as the future!
    - You have investments in your name and you regularly make contributions
                                                                                                   YES / NO
   
    - You have a bank account in your name and there is a regular enough cash flow to avoid bank fees
                                                                                                   YES / NO
   
6. How often do you take the time to inform yourself about your financial options?
    - You have attended an investor seminar or have undertaken financial study during the past 2 years
                                                                                                   YES / NO
   
    - You have read all your bank statements and invetmnt reports and regularly reconcile your expenditure
                                                                                                   YES / NO
   
    - You review your current financial plan at least annually and make changes where necessary
                                                                                                   YES / NO
   

If you've selected 'YES' for each questions asked then you should congratulate yourself on setting up a plan for a successful financial future.

If you've selected 'NO' for some or all of the questions then now is the time to act.

Life can be busy so it's sometimes hard to take time out to address the issues of financial independence. This checklist can help you to identify where you need to focus your energy and time. Take the time to look at your future and decide now what you want to achieve so that you can find the professionals you need to help you create a plan that will make it happen.

Addwealth for Women have developed a number of strategyes that can easily help keep you track to achieving your financial goals.

Why wait to be wealthy? Call Addwealth for Women today on 08 9284 3144 or register online at www.addwealthforwomen.com.au

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