Money fears are pretty common in divorce. Clients may be afraid they don’t know enough about money, won’t get enough money or they’ll have to give up too much money. Or they might have concerns that their partner will be difficult and they’ll have to fight to get what’s “fair”. By the way, most of us call “fair” the 4-letter F word in divorce because each person’s definition of “fair” is different and it’s the source of so much disagreement.
In this week’s episode, we dive into the first few important steps when working with money fears. When we are able to dial down fear, we also make it possible for clients to be less reactive, more flexible, and more strategic - and that means less conflict and better decisions.
We find it so interesting that financial fears are one of the most common instigators of divorce conflict because money is widely known as one of the leading causes of divorce in America. We're taking people who likely couldn’t agree about money in their marriage and asking them to make big decisions about money during their breakup. It just doesn’t seem like a recipe for success.
We review working with clients to establish a post-divorce budget and running through possible marital property settlement proposals. The key to minimizing money fears is a combination of understanding the divorce process, financial literacy, and values based decision making. When clients are prepared to negotiate from an interest based perspective, they improve the chances that they’ll get a satisfying outcome.
Learn more about DCA® or any of the classes or events mentioned in this episode at the links below:
Website: www.divorcecoachesacademy.com
Instagram: www.instagram.com/divorcecoachesacademy
LinkedIn: www.linkedin.com/company/divorce-coaches-academy
Email: DCA@divorcecoachesacademy.com