Divorce and Your Finances
HER EMPOWERED DIVORCE
HOST: Beverly Price, Divorce & Empowerment Coach
GUEST: Tresa Leftenant, CFP, Author, Speaker, Reinvention Mentor
SUMMARY:
Claiming our financial power is a crucial step in securing the post-divorce life we deserve. On this episode of Her Empowered Divorce, host Beverly Price welcomes financial advisor, author, and reinvention mentor, Tresa Leftenant, who shares actionable tips to help you move forward with confidence. Tresa, a Certified Financial Planner and author of Reinventing Her: Helping Women Plan, Pursue, and Capitalize Their Next Chapter, offers insights on how to prioritize the key elements for negotiating a successful divorce and achieving financial independence. She discusses the importance of creating a strong foundation for peace of mind, and sheds light on the impact of financial abuse, a dynamic that every woman should consider. You’ll leave with practical advice and a renewed sense of agency before, during, and after the divorce process. It’s about laying the groundwork for a future that reflects your heart’s desire while developing a manageable plan to achieve it. As Tresa says, “Anybody can learn this. You just have to be willing to take the time and have someone explain it to you in a way that is on your wavelength.”
KEY TAKEAWAYS:
- Questions your CFP should ask:
- What exactly do you want in your future?
- What is your vision for your life?
- What steps are you taking to improve your life?
- Word to the Wise: Ensure your financial planner is a licensed fiduciary, which holds them to a higher standard of responsibility.
- Niche Focus: Tresa’s dedication to supporting women, especially those navigating divorce or widowhood.
- Why the Fear?
- Women are often conditioned to believe they can’t be financially independent and struggle to make decisions alone.
- No one wants to fail or make the mistakes needed to learn.
- That Important First Step: Women must understand their current reality and clarify their desires before embarking on a divorce.
- Baseline Financial Planning Questions:
- What are your short- and long-term goals?
- What is the timeline for achieving those goals?
- Ongoing Support: Because money is always in motion, savvy women monitor their financial plan and stay connected with their advisor.
- Social Conditioning: Financial abuse, much like sexual abuse, can disempower and trap women.
- Word to the Wise: “You can call upon your feminine power and demand equal access to financial education, resources, and agency to make decisions.” (Tresa)
- Word to the Wise: Insist on having tough financial conversations from the start of your relationships. It’s a matter of trust.
- Things to Prioritize in Divorce:
- Create a spending plan that reflects who you are and what you want.
- Find your purpose and let it guide you.
- Understand who you are and what you want to achieve outside of marriage.
- Three Actionable Tips:
- Commit to being 100% intentional and responsible for every financial decision.
- Establish an emergency fund as soon as possible to avoid relying on credit or loans.
- Shift your mindset from budgeting to creating a spending plan that focuses on what you want and how to get there.
NOTABLE QUOTES:
- “Twenty years ago, I started my own company because I wanted my clients to be my boss, instead of having a company be my boss.” (Tresa)
- “Women like to talk to women (about financial planning). We speak the same language.” (Tresa)
- “We get cultural messages that women need a man to help us make the really complicated decisions around investing or estate planning or insurance, but anybody can learn this. You just have to be willing to take the time and have someone explain it to you in a way that is on your wavelength.” (Tresa)
- “When money is in movement, that’s when you have to be critically careful about the timing of certain decisions.” (Tresa)
- “To be a successful woman and grow wealth on your own requires that you make it a priority.” (Tresa)
- “When you’re in a partnership, the way to negotiate a future is to have equal input. You deserve to be informed. You deserve to be an equal partner in the financial choices.” (Tresa)
- “Financial abuse is abundant, it’s huge in most marriages and it’s probably the reason for a lot of divorces.” (Tresa)
- “The bottom line is that a woman has to step in and claim her power in her financial decisions.” (Beverly)
- “If a husband is withholding information or putting you down, hiding things, or saying you don’t need to see this, that’s when alarm bells should go off.” (Beverly)
- “Budgets are limiting. Spending plans are expansive.” (Tresa)
ABOUT OUR GUEST:
Tresa Leftenant is a Certified Financial Planner™ and founder of an independent financial planning and investment management company in Bellevue, WA. She is also a Certified Trainer of Jack Canfield’s Success Principles and the author of Reinventing Her – Helping Women Plan, Pursue, and Capitalize on Their Next Chapter. Tresa is passionate about guiding suddenly single women to find their voice and step into a better financial future. Her signature coaching program is The Reinvention Blueprint – 7 Essential Inner Habits for More Confidence, Clarity, and Financial Wellbeing.
FOLLOW OUR GUEST:
ABOUT YOUR HOST:
Beverly Price is a CDC Certified Divorce Coach®️ and Women’s Empowerment Coach with over 25 years of experience. Her passion is helping women navigate every aspect of separation and divorce. Beverly offers a comprehensive coaching experience, blending empowerment with practical guidance in communication, conflict management, boundary setting, and negotiation skills. She also provides expertise on the technical, legal, and financial aspects of divorce. Her holistic approach ensures that clients can make the best decisions for themselves and their families, while building a positive, fulfilling future.
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