Exposing Financial Secrets in Divorce

I was thrilled to be a guest recently on the Real Money with Lisa Chastain podcast. Lisa's goal is to make money relatable to women, while helping them spend with confidence. We share a passion for helping women accomplish their financial goals.

In this episode, Exposing Financial Secrets in Divorce, Lisa and I wanted to talk about how I demystify divorce and money for women who may be overwhelmed with the whole process of divorce. I have helped hundreds of women, just like you, walk through this difficult time.

Lisa and I discussed the importance of breaking down the shame that many women have about their lack of financial knowledge.

I want to share a few tips from the show that you can use right away:

Start by going through your accounts for the past year. When I work with clients, I typically look at three to five years of statements and see if there are transactions like this:

• Questionable transfers to accounts you don't know about
• Large cash withdrawals
• Paycheck deposits that seem smaller than they should be
• Transactions in locations that aren't ordinary for you or your family

If this seems like a lot, just start with one year of statements and see what you find!

How long will this take?

I recommend giving yourself one month to gather all of the documentation and another month to go through everything. It's very normal to feel overwhelmed initially, but I promise, with my guidance you will get through these documents and find the information you need.

When you have a better understanding of where the money is and where it has been going, you can move ahead with your divorce more confidently.  This is because you understand your family's needs better than anyone, so you will know when transactions look unusual or when questions need to be asked. We want to build that on the confidence and knowledge to help you get what you deserve in your divorce.

You have the information, so now what?

Make a list of the questionable transactions. You are building the proof you need to get the best financial settlement possible! Your knowledge of this information is powerful and you will be able to make good financial decisions for yourself.

Check out my episode with Lisa here. This is a must listen because there is so much in it that you can put to work right away.