Separation: Getting your finances ready before you go
Financial preparation before leaving can feel overwhelming. This guide keeps it simple.
You're not trying to be financially independent overnight. You're just trying to have enough breathing room to make good decisions. Consider this your checklist for now, every box you tick is one step closer to where you want to be.
1. Open a bank account in your own name
If you don't already have one, this is the single most important step. An account in your own name means money you put aside is yours alone.
Most Australian banks allow you to open an account online in under 10 minutes. You'll need your name, address, date of birth and tax file number. If you don't have a TFN, you can still open an account - you'll pay withholding tax on interest without a TFN, but this can be reclaimed at tax time.
Some banks have specific programs for women experiencing financial abuse. Commonwealth Bank's Next Chapter program and ANZ's MoneyMinded program are worth looking into.
Start setting aside what you can
Even small amounts help. Some ways to do this quietly:
Round down your grocery spending and keep the cash difference
Redirect small amounts - $20 here, $50 there - to your separate account
If you receive any cash (gifts, change), save it
From little things, big things….. you know the rest. You're trying to give yourself a few weeks worth of options.
Understand your shared finances
Make a list, even a rough one of what you share:
Joint accounts and what's in them
Shared debts — mortgage, car loans, credit cards
Superannuation (both yours and your partner's — you may be entitled to a share)
Property ownership — whose name is on the title?
You don't need to resolve any of this yet. But knowing where things stand means you won't be making decisions in the dark.
What Centrelink can offer
If you're leaving a relationship, you may be entitled to government support. Depending on your circumstances, this could include:
Parenting Payment (if you have children)
JobSeeker Payment
Crisis Payment (available once in a six-month period for people leaving a relationship due to family violence)
Rent Assistance
The Services Australia website has a payment finder at servicesaustralia.gov.au. You can also call 132 850.
A note on financial abuse
If your partner has controlled your access to money — prevented you from working, monitored your spending, put debt in your name without your knowledge — this is financial abuse, and it's recognised under Australian law. A financial counsellor or legal service can help you understand your rights and options. Many services are free. Find your nearest legal advisor on our legal support page.