Summary:

In this episode of the Better Divorce Podcast, Paulette Rigo speaks with Lori Atwood, founder of Fearless Finance, about the financial challenges faced during divorce. They discuss the importance of financial planning, the need for financial independence, and strategies for managing finances during and after separation. The conversation highlights the complexities of divorce, including the emotional and financial implications of home ownership, budgeting, and the necessity of establishing credit. Lori emphasizes the importance of being financially literate and prepared for the changes that come with divorce, advocating for a proactive approach to financial management.

Takeaways:

• Money is a significant concern during divorce, often causing fear and overwhelm.
• Financial planning can provide clarity and support for those considering divorce.
• Many women contemplate divorce for an average of two years before taking action.
• Establishing a separate checking account is crucial during separation.
• It's important to build your own credit history and financial independence post-divorce.
• The cost of maintaining two households can be challenging after divorce.
• Nesting arrangements can be complex and often do not work long-term.
• Selling the marital home can provide a clean break and financial security.
• Understanding financial literacy is essential for navigating divorce successfully.
• Facing financial challenges head-on is a critical step in the divorce process.

About Lori:

Lori Atwood is the founder and CEO of Fearless Finance and a CFP® professional. Lori created Fearless Finance to make expert, fiduciary, hourly financial planning accessible to everyone with no sales, no minimums, and no judgement. Lori’s been in finance for over 25 years starting in investment banking, asset management and private equity before starting Fearless Finance in 2016.

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