The Divorce Money Guide and how to navigate through it! with Tracy Coenen

The Divorce Money Guide and how to navigate through it! with Tracy Coenen

Tracy Coenen is a renowned forensic accountant and the brains behind The Divorce Money Guide- a step by step process of how to navigate through  financial documents  and feel prepared. We talk about red flags to look for, how to prepare even in a healthy marriage financially, and what to do after the divorce is over.  This is something and someONE I wish I had known through my own divorce- it can feel lonely emotionally and financially and she has steps to take to feel confident! 

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Tune in as we chat through some of these questions and more!

I’ve talked about finances and how important it is from the other side, when you’re in a marriage, understanding and knowing where your money is, how it’s working, and how to grow it- even if your partner is the one taking care of finances, but another of the reasons it’s so important to understand finances is for the not so fun part- which is divorce. As someone who went through a divorce a few years ago and started over, I was the one who didn’t take care of the finances, and although I’ve been good at budgeting- it was a tough part of starting over in a new state, building a business and a life. Mine was one where we both respected one another and were up front about money, and ultimately being kind and fair but that doesn’t happen in most divorces- and when I did move here I started working for an attorney and saw so many cases just on the backend of how heart breaking it can be when people don’t know just where their money is, but how much, how it’s growing, and all the other assets in the names- ALONG with not knowing how to start over- so this is one I completely believe in knowing- Finances.

So tell us a little about the divorce money guide- at what step it’s for in a marriage or divorce? I know you have several offers depending on where they’re at in the steps but at what time is a good time to start your programs?

I know it’s probably late in the game for many of your clients- although doable to get those finances in order- but how important is it to be a part of finances WHILE married and how can we start to implement that and become part of the conversation, growth etc?

What are some maybe red flags that we could see while in a marriage when it comes to finances that might indicate something more?

What steps can someone take to protect themselves in a divorce if they were not the primary wage-earner of the household?

What can we do AFTER the divorce to set up for financial understanding and growth?

Starting over can be overwhelming whether it’s moving, setting up new accounts, investing, etc- are there some things you suggest to start with when it feels overwhelming?I know for myself- as someone who had zero money- it was to save up a small savings- before I started any investment accounts, retirement, or otherwise- because I was dependent on myself complately- and as life does- throws car issues, house problems, and unexpected expenses, so for almost 2.5 years I really just focused on saving and not spending anything- I also was building a business at the same time and I had the opportunity to just worry about myself with no kids- but I spent SO little money and was able to save a little something before focusing on building other accounts

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