Friday, June 10, 2011
Sources of financial information for survivors of domestic violence
Since covering the topics of financial fitness on this blog We've heard from several survivors of domestic violence.
One of the great myths of family violence is that all victims are without financial means. Advocates can tell you that this isn't always the case. A person's portfolio can change with any life circumstance that comes your way. Corporate downsizing, a promotion, medical bills and such are all a normal part of life.
Victims of domestic violence may find themselves in a financial free fall at some point after leaving. This doesn't mean that the situation won't improve. Many survivors go back to school for an education that will increase their income. After leaving, some victims may be able to hold a steady job for the first time in their lives.
The financial understanding that survivors of domestic violence is also increasing. Online websites make it easier than ever to manage household income and savings. The internet can be a good place to learn about credit worthiness and investing.
There are many companies that allow online trading. Some of these are OptionsHouse, Etrade, TD Ameritrade and others. Almost all have tools and educational aids to help inform your decisions.
Another source of financial advice may be your bank. These days, it is not uncommon for banks and credit unions to have online investing options available. Nonprofit organizations and some banking institutions have financial experts on staff. These folks, like Kalyn Risker of S.A.F.E. can help find ways to stabilize and build net worth.
For victims of domestic violence the only hard and fast rule is to never give up. It can take awhile but income does often change for the better. After stabilizing, it's a good idea to learn about all options and seek advice from the pros. When you are ready this is the best way to choose the investment options that are right for you.