3 minute read
Author: Samantha Boardman – Budgeting Expert Founder & Creator of Spending Made Easy
Why do so many women entering perimenopause or menopause suddenly start feeling overwhelmed by money and financial pressure?
For many women, menopause arrives during one of the busiest and most financially demanding stages of life. They are often juggling teenagers, mortgages, ageing parents, career pressure, relationship challenges and rising living costs — and all while their body and brain are going through enormous hormonal changes. It is a huge ask of our mind – and bodies!
What many people don’t realise is that menopause can affect concentration, memory, sleep, confidence and emotional wellbeing. Suddenly, tasks that once felt manageable — paying bills, budgeting, making financial decisions — can feel exhausting and overwhelming.
Many women tell me they feel anxious around money for the first time in their lives. Others start avoiding their finances altogether because it feels mentally too much. It’s not because they are “bad with money.” Often, they are just mentally overloaded, emotionally drained and carrying an invisible burden that nobody else can see.
Divorce in midlife can completely reshape a woman’s financial reality. What are some of the biggest financial mistakes or challenges you see women facing after separation?
One of the biggest challenges is fear and panic-based decision making.
After separation, many women suddenly go from shared finances to managing everything alone. They may have less income, unexpected legal costs, debt, or the pressure of starting over financially in their 40s or 50s.
A common mistake is avoiding the numbers because they feel too overwhelming emotionally. Some women continue spending the same way they did during the relationship, while others become so fearful they stop spending on anything at all — even the essentials.
Another challenge is confidence. Many women have spent years managing households but not necessarily handling long-term financial planning, investments or superannuation decisions. After divorce, they can feel financially vulnerable and unsure where to begin. They also often feel quite sad and thus not motivated to even start thinking about it.
Many women feel shame around money, especially if they are struggling after divorce or menopause-related career disruption. How can women start rebuilding confidence and a healthier relationship with money?
The first step is removing the shame.
Financial struggles during menopause or after divorce are far more common than people think. Life changes, health challenges and emotional stress all affect our financial habits and decision making.
Women need to stop seeing themselves as failures and start seeing money as a skill that can be rebuilt – one small step at a time.
Confidence grows through clarity, not perfection.
Start by:
- understanding exactly what is coming in and going out (Top Tip; always start with what is going out)
- simplifying accounts and bills
- know the numbers! The numbers don’t lie
- creating a realistic Spending Plan
- setting small achievable financial goals
- asking for support instead of struggling alone
The goal is not to become perfect with money overnight. The goal is to feel calmer, safer and more in control… Empowered!
Menopause often coincides with some of the most financially demanding years of life — teenagers, mortgages, ageing parents, career pressure and relationship breakdowns. What practical steps can women take to regain a sense of control?
The most important thing is simplifying wherever possible.
When women are mentally overloaded, complicated budgets and unrealistic financial systems usually create more stress, not less. Thus, they avoid it. Unfortunately, though, avoiding it doesn’t change things – it often makes things worse (as they’re not doing anything about it).
Start small:
- automate bills where possible
- reduce unnecessary accounts
- create separate spending categories
- review subscriptions and direct debits
- plan ahead for irregular expenses
- have honest conversations about money at home
- don’t be afraid to seek help from a Professional – remember – no shame
Most importantly, create a Spending Plan that works for real life, not a perfect fantasy version of life.
Financial wellbeing is deeply connected to emotional wellbeing. When women feel more organised financially, their anxiety often reduces significantly too.
I have a client (a single Mum of 3) who went from stressing about needing to get a second job and being grumpy all the time, to paying off her mortgage quicker, getting ahead with the school fees and she even won “Employee of the Year” – less than 12 months after working with Spending Made Easy (and she never needed that second job).
If there is one message you would want recently divorced or financially overwhelmed midlife women to hear right now, what would it be?
You are not behind.
You are not hopeless.
You are not incapable.
And you are certainly NOT alone.
This stage of life can feel incredibly heavy emotionally, mentally and financially. But financial confidence can be rebuilt at any age – and any stage.
Small consistent steps matter far more than perfection.
The women I see succeed are not the ones earning the most money (far from it). They are the ones who stop judging themselves, ask for support and decide to take back control – one step at a time.
Because peace around money is possible; even after menopause, divorce or financial overwhelm.
Author: Samantha Boardman – Budgeting Expert Founder & Creator of Spending Made Easy
I am Sam and I founded Spending Made Easy in July 2016. At Spending Made Easy we are experts at budgeting, and we take all the stress, worry, panic, uncertainty, and often sleepless nights out of your day-to-day finances and budgeting. We change lives!! We support and guide our clients so that they can manage their finances themselves. We give them all the tips and tricks that they need to set them up for life! Website; https://www.spendingmadeeasy.com.au/
