WHAT FINANCIAL ABUSE IS AND WHAT TO DO ABOUT IT EP 109

HOST: Beverly Price, Divorce & Empowerment Coach

GUEST: Rhonda Noordyk, Founder and CEO of The Women's Financial Wellness Center

SUMMARY:

Financial abuse can take various forms, including restricting access to money, withholding financial information, or coercing the victim into making financial decisions. Recognizing financial abuse before and during divorce can be challenging, as it often operates covertly. However, there are warnings that can help you recognize financial abuse in your relationship and the divorce process. If you suspect financial abuse, it's crucial to seek support from a qualified professional who can help you navigate the legal system to protect your financial interests and ensure a fair settlement. In this episode of Her Empowered Divorce, your Host, Beverly Price, talks to Rhonda Noordyk, Founder and CEO of The Women's Financial Wellness Center. Together, they discuss financial abuse, what it is, how to recognize it, and what you can do about it.

Divorce doesn’t have to be a death sentence. With the right support and guidance, you can move through the process with knowledge, skills, and confidence. If you’d like to schedule a complimentary private consultation, reach out to Beverly at: https://beverly-price.as.me/Consultation.

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KEY TAKEAWAYS:

• Am I going to be okay? Yes, certainly! But you must define what “fine” means to you; don’t just take it from your attorney or others.
• You can use ABUSE as an acronym to help you recognize financial abuse. A-Alienate you from finances, B-Beliefs marital money is theirs only, U-uses the legal system to control you, S-Seems like the victim, E-Evades financial accuracy and transparency.
• Divorce happens in three parts simultaneously: legal, financial, and emotional, and you need a core divorce team, coach, CDFA, and legal representative to help create the best results for you.
• Whatever stage you are in your divorce process, don’t allow anyone to coerce you into making financial decisions that will sell you short. Invest in what you need to protect your financial interests and ensure a fair settlement.

NOTABLE QUOTES:

• The first biggest challenge women face is confidence around money and finances because of a lack of knowledge and experience in managing finances; financial knowledge and confidence ultimately lead to confidence. (Rhonda)
• You need a core divorce team consisting of a coach, CDFA, and legal representative, and these three don’t compete with each other. They complement each other and come together to create the best results for you. (Beverly)
• The second greatest financial challenge for women is understanding the financial aspect as it relates to the divorce process, what questions to ask, how to gather and organize information, how to access information, how to analyze it, and how to negotiate. (Rhonda)
• When you have a team of people working on your behalf, the process is better, and the people are better. (Rhonda)
• If you are thinking about divorce, don’t sell yourself short on investing in what you need to ensure this process goes as smoothly as possible for you: be open to making sure you have the right team...