How money coaching can help you in a divorce

What is money coaching?

It’s personalised coaching designed to give you greater confidence around money, and help develop greater financial resilience.  Many of my clients seek me out during life transitions – like starting families, relationship break down, bereavement or change in employment – to help them change their money behaviours.  They recognise that while their behaviours may have served them well up to this point, life has changed so they need to change too.

However, changing our behaviour can be a slow process – so employing a coach can make that change much quicker, and less painful as well.  Money coaching can support people going through divorce particularly well, because we recognise that emotions can be particularly charged, and often there will be painful discussions over money and assets.

As part of the coaching, clients can receive guidance on budgeting and investing, setting new financial goals, having a trusted person who can explain financial jargon and bust financial myths, explain pros and cons of financial products, and also help raise awareness of your own relationship with money.

It’s important to know that financial or money coaches are not regulated by the FCA, and we don’t sell financial products or manage a client’s money.  Good financial coaches will not only have financial qualifications, but they will often be accredited by a coaching body – through which you can raise concerns about that coach if necessary. 

How can coaching help someone who is going through a divorce?

Divorce is one of those major life transitions where not only do you have to adjust to a change in relationship status but it is often deeply intertwined with difficult negotiations and outcomes around money.  Whether it’s dealing with reduced income and assets, or needing to re-learn how to manage your own finances and planning – dealing with your financial situation after divorce can be overwhelming, and incredibly emotional.

People develop certain money behaviours as coping mechanisms to deal with painful relationship breakdowns.  If not dealt with, these behaviours can continue into new relationships, with sometimes devastating consequences.  Money coaching seeks to identify and stop unhealthy patterns of behaviour, so that people can move on from a divorce and rebuild their financial resilience.

We know that difficult conversations around money don’t stop once a divorce is filed.  I support clients develop their negotiation skills to better equip them for these conversations.  Research shows that children develop their money habits mainly by witnessing how their parents behave – so my clients know that demonstrating responsible adult behaviour is not only important for their own sake, but for the sake of their children as well. 

How can people find out more?

Sometimes it’s best to simply have a conversation!  If people are interested, they can contact me via my website www.wtf-money.com, on Instagram @wtf.money.fleur or send me an email here: fleur@wtf-money.com

About Fleur

After 15 years in banking, Fleur realised that being financially literate (and highly paid) doesn’t fix your money problems – and started on a mission to find out why.  Now she’s an executive coach who specialises in money conversations.  As a CFA charter holder, she holds the gold standard of financial qualifications.  Fleur is also an Accredited Associate Coach with the International Coaching Federation.  In her spare time, she argues with her daughter about pocket money, researches the influence of culture on money behaviours and can occasionally be heard shouting at rowing crews on the River Thames.