Are you holding back on deciding on a divorce because you’re afraid of what financial independence might look like?
Financial expert Stacy Francis has a passion for helping women who feel financially trapped in relationships and has powerful advice to help assess and make financial decisions throughout the divorce process.
In this episode, Stacy and I discuss the common financial mistakes women make when transitioning out of a relationship and the key things everyone needs to know about finances before, during, and after divorce. We’ll also share resources to help you feel empowered and ready to take the first step to create your long-term plan for financial stability.
Three Things You’ll Love About This Episode:Take the fear out of your financial future. Stacy shares her best tips for assessing your current financial situation and things to consider when creating a plan for moving forward. Learn how money impacts the decisions we make. Financial assets influence more choices than you realize. Learn the first thing you should do financially when facing divorce and how it sets up your future decisions. Avoid mistakes when dividing assets. Thinking you want to keep the house? Learn why that decision may not serve you and other things to consider when looking at your current assets
Stacy Francis is the President and CEO of Francis Financial, a fee-only boutique Wealth Management, a Management, Financial Planning, and Divorce Financial Planning firm dedicated to providing ongoing comprehensive advice for successful individuals, couples, and women in transition such as divorce or widowhood. She is a Certified Financial Planner® (CFP®) and Certified Divorce Financial Analyst® (CDFA®) with over 20 years of experience in the financial industry.
Stacy is also the founder of Savvy Ladies™, a nonprofit organization dedicated to educating and empowering women to take control of their finances. She is a nationally-recognized financial expert featured on CNBC’s Digital Financial Advisor Council, the Forbes Finance Council, Kiplinger, and The Wall Street Journal. Stacy is the host of Financially Ever After, a podcast focusing on women, money, and divorce. She is also the author of the white paper, Unveiling the Unspoken Truth: The Financial Challenges Women Face During and After Divorce.
Going through an immense betrayal can be the most difficult thing to get over. In fact, it makes it hard for us to trust others again. Believe me. I know how it feels. My ex-husband cheated on me, and he was the last person I’d have ever thought to be capable of hurting me. It took me some time to realize that trust has to start within ourselves.
After her son was born, Kristy Carruthers had to sell off their clothing, jewelry, and belongings. She started interviewing for jobs at four weeks postpartum. After living on credit cards for a few months, she just hit the end of the rope and ended up having to sell the house to pay the credit card bills. That’s when the mind shift happened. I said to myself, ‘You know what? This can never happen again. This is not acceptable.'”
When I was married, divorce was never on my mind.
It never occurred to me that it had to be something I should learn about.
Fast forward to today, it continues to be that gift that keeps on giving. It has taught me about myself more than I ever knew.
Even though I’ve undergone therapy, I still believe that what I’ve endured and experienced post-divorce unraveled five lessons that I never would’ve discovered on my own.