For many women, money feels like a forbidden topicโsomething easier to avoid than confront. But how you handle money and divorce impacts your relationships, your decisions, and your peace of mind.ย
A 2023 Fidelity Investments survey revealed that 61% of women would rather talk about their own death than discuss finances. Money is also one of the top reasons couples divorce, making it critical to understand its role in your life and your future.
Letโs uncover why normalizing conversations about money is essential and how you can empower yourself financially, whether you are contemplating divorce or already in the process.
The Taboo of Money and Divorce
Money is deeply tied to identity, self-worth, and well-being. This is why it can feel so vulnerable to talk about. Yet avoiding these conversations often leads to financial risks and relationship strain.
Consider this: 20-40% of divorces cite financial disagreements as a leading cause. For many women, fear of moneyโor lack of itโkeeps them in marriages that no longer serve them. But staying stuck comes with its own price: emotional exhaustion, resentment, and the belief that your happiness is secondary.
If this resonates, itโs time to change the narrative. Normalizing conversations about money is not just about dollars and centsโitโs about reclaiming your power.
Practical Steps to Secure Your Financial Future
1: Know Where the Money Is During Divorce
Even in the happiest marriages, understanding your financial picture is critical. This includes knowing:
โ Account balances and passwords
โ Joint and individual assets
โ Debt obligations
If youโre unsure where to start, begin by asking questions. Ignorance about finances is not a sign of failure; itโs an opportunity for growth.
2: Establish Credit in Your Name
Many women discover post-divorce that their financial independence is limited because their credit history is tied to their spouse. To safeguard your future:
โ Open credit cards in your name as the primary account holder.
โ Monitor your credit score regularly.
3: Plan for the Unexpected
Whether itโs divorce, a sudden accident, or even death, understanding your financial reality ensures youโre prepared for lifeโs curveballs. Knowing what you haveโand how to access itโbrings peace of mind.
Money and Divorce-Empowerment Through Financial Clarity
The fear and shame around money can feel overwhelming.ย But staying stuck isnโt the answer. Taking control of your financial knowledge is a powerful first step toward liberation. Divorce may change your life, but it doesnโt define your worthโor your future.
As you embrace clarity and financial empowerment, remind yourself:
โ You are not a failure because your marriage ended.
โ Prioritizing your happiness is an act of self-love and strength.
โ A healthy future for yourself and your children begins with you.
Ready to Take the Next Step?
If youโre worried about money and divorce, you donโt have to navigate it alone. The Divorce Compass is designed to guide you through taking your first steps toward clarity and confidence.
Want to chat with a divorce strategy expert and certified trauma informed coach? Book your complimentary call today.ย
