In Focus: Advice for Women  

Key advice moments in a woman's life

Anna Murdock

Anna Murdock

There are a number of key moments in a woman’s life in which we are vulnerable to misinformation or a lack of clarity as to what is best to do with our finances at a particular time.

Many events can require planning, and some of the ‘major’ life events that can require the most consideration are marriage, having children and, in some circumstances, divorce.


Marriage is usually a joyous time, but it is important to start it on the right financial footing.

Other than understanding each of your financial circumstances and goals for the future, it is important to think of your financial future by opening joint accounts to cover joint expenses or as an emergency fund. 

In addition to this, to protect yourselves you could set up an insurance policy to safeguard against loss of future income, illness or an inability to work.

These policies range from life cover for a fixed term or whole of life, critical illness cover or income protection against disability.  

Having children

When it comes to our children saving for themselves, certain behaviours affect their motivation, not least the rising cost of living having made it difficult to put money aside.

Young people’s spending and saving priorities also differ from past generations, as they feel more pressured to take on debt and spend more. 

Research would suggest that it is ordinarily family who act as the greatest influence on their children’s saving habits. Parents can ingrain good habits from a very young age and are the main source of financial advice for young adults. 

Junior Isas are available for any child under 18. With an annual allowance of £9,000, a Jisa is a long term, tax free way to invest in your child’s future. 

Of course, you can open a Jisa at any time before your child reaches age 18, but it is considered smart to open a Jisa from the day they are born. The full 18 years means they can benefit from compounding and afford to take greater investment risk.

With tax-free interest on the income and capital gains, the money you invest could grow even faster. It allows parents to lay the foundations for their child’s financial future by granting long-term tax-free savings or investments.


An incredibly stressful process, the financial decisions made from divorce can have long lasting financial repercussions.

With this in mind, it is important to seek advice on ensuring the correct distribution of marital assets and future wealth management. 

Other than property, pensions are often the largest asset owned within a family unit for which there are options available on divorce to split the assets with a clean break.

In the past, pension offsetting has been common practice as the value of any pensions are offset against other assets held. In this case a simple, clean break is offered without interfering with existing pension plans.