I’m always looking for great resources to share with my divorce mediation clients. So, when I met Myra Alport at a Happy Hour for mediation professionals, I was interested to learn about her services as a “Money Coach.” Obviously, divorce brings up a lot of financial concerns. Often, for the spouse that was not the money manager in the marriage, there is a learning curve for how to handle the financial assets after the divorce is final. Additionally, during a divorce mediation, a Budget can be one of the most useful tools in making sound financial decisions on separation of assets and support. Read on about how a Money Coach can help you with exactly these items.
Benefits of Working With a Personal Financial Coach During and After Divorce
By Myra Alport, Money Coach
“Now what?” or “what’s next?” are often looming questions after your divorce is final.
Money is foundational in our lives. Perhaps your spouse took responsibility for overseeing the family finances or you feel a bit weak in that department. Having to manage your money for the first time can be overwhelming. Making informed financial decisions with a clear head is important for your future.
Let’s not kid ourselves – money is emotional and those emotions drive our behavior.
That’s where a financial or money coach can help. A financial coach is comparable to a fitness trainer minus the workout equipment! A trainer seeks to learn their client’s fitness goals, what they have tried in the past, what worked, what didn’t, as well as any obstacles along the way. Likewise, a financial coach helps clients who are feeling stressed and anxious about money create and maintain healthy financial habits.
A personal finance coach can help you:
- Define your long and short-term goals that align with your values and spending habits
- Identify obstacles standing in your way of achieving these goals
- Track spending and co-create a simplified spending and savings plan
- Stay on track
- Build savings
- Improve credit score
- Pay off debt
- Learn investment basics
Overtime, you will feel more in control, more at ease and more confident as you set the stage for your next chapter. I welcome the opportunity to be your financial fitness trainer!