I Just Got Divorced. How Do I Rebuild My Finances?

·3 min read
money roses growing
money roses growing

Richard Drury/Getty Images

TABLE OF CONTENTS

  1. On This Page

    • On This Episode

    • Meet Our Caller

    • Meet Host Stefanie O'Connell Rodriguez

    • Meet Our Expert, Tasha Cochran

    • Advice From the Episode

    • Links and Resources

Every Monday on the Money Confidential podcast, host Stefanie O'Connell Rodriguez, a nationally recognized money expert, delves into your (confidential) money problems and delivers smart, practical, and completely doable solutions that will help you work toward your ultimate financial goals. This is the place to come for real talk about money—and real solutions that actually work.

On This Episode

Nearly half of all marriages end in divorce—and that can leave not only an emotional impact but a financial one. Host Stefanie O'Connell Rodriguez and attorney and wealth expert Tasha Cochran, who has made it through her own divorce, lay out a step-by-step plan to help those going through divorce get their financial lives in order.

Meet Our Caller

"Alicia" is a 49-year-old school psychologist and mother of two children, and she's juggling multiple money goals following her recent divorce: furnishing her new home, paying off debt, helping her college-aged kids pay their tuition, and building up her savings.

"I feel like I'm betraying my kids. I know in the long run it will probably benefit them if I'm financially stable—they won't have to help me out. But my heart is bleeding for them saying, 'I really want to help you guys.'"

—Anonymous Caller "Alicia"

Meet Host Stefanie O'Connell Rodriguez

Money-Confidential-podcast-Stefanie-OConnell-Rodriguez
Money-Confidential-podcast-Stefanie-OConnell-Rodriguez

Caroline White Photography

Stefanie is a nationally recognized personal finance expert ready to talk work, worth, and money with unapologetically ambitious women. Her work has been featured in The Wall Street Journal, The New York Times, USA Today, Cosmopolitan, Glamour, and Oprah Magazine, and Stefanie has appeared on ABC World News, CBSN, Fox & Friends, Fox Business, Bloomberg, The Dr. Oz Show, The Doctors, and more to share her smart, practical solutions to any money problem.

Meet Our Expert, Tasha Cochran

tasha cochran headshot
tasha cochran headshot

Courtesy of Tasha Cochran

Tasha Cochran is a lawyer, wealth coach, and founder of One Big Happy Life, where she helps people take control of their money and create guilt-free spending plans so that they can build wealth while enjoying life along the way.

Advice From the Episode

"When you get divorced, it feels very overwhelming because there's so much going on all at once, but it's also a wonderful opportunity to rethink [your] life and understand who [you are] and how [you] want to spend [your] money."

—Tasha Cochran

  • "Understanding the legal entanglements that happen when you get married—and what it looks like to try to disentangle those things—helps you make better financial decisions during the course of your relationship. That way, whether or not you and your partner end up staying together for life, you can both still be well-off financially." —Tasha

  • Make sure your finances are in place before you start planning for your kids' futures. "You've got to put on your own safety mask first." —Tasha

  • Give yourself grace. "It's okay for some balls to drop because we also need to deal with the emotions that come along with getting divorced." —Tasha

"It's important that anyone going through the process of ending their marriage have an understanding of what that legal agreement means for their money based on the laws in their state."

—Stefanie O'Connell Rodriquez

Links and Resources

Download the transcript for this episode.

Have a money issue you'd like to share on a future episode? Fill out our intake form.

Recent Podcast Episodes You May Like: