Ep. 204 Mikelann Valterra: To believe that they don't have to stay stuck in their financial anxiety and to get clear on what is creating the overwhelm for them in the first place.

Summary:

In this conversation, Paulette Rigo and Mikelann Valterra delve into the intricate relationship between divorce and finances. They explore how financial anxiety disproportionately affects women, the emotional aspects of money management, and the importance of understanding one's money story. Mikelann shares her journey to becoming a money coach, emphasizing the need for emotional support in financial planning, especially during life transitions like divorce. The discussion also highlights the differences in how men and women approach financial anxiety and the significance of addressing these feelings to regain control over one's financial future. In this conversation, Mikelann Valterra and Paulette Rigo discuss the importance of financial planning and awareness, especially for women navigating life after divorce. They explore the concept of creating a financial blueprint, understanding individual money personalities, and the historical shifts in women's financial empowerment. The discussion emphasizes the need for clarity in financial matters and the emotional aspects tied to money management, providing practical advice for those contemplating divorce or seeking to improve their financial literacy.

Takeaways

• Divorce often centers around financial issues rather than just emotional ones.
• Money coaching combines financial planning with emotional support.
• Understanding your money story is crucial for financial clarity.
• Financial anxiety is more pronounced in women than in men.
• Transitions like divorce can exacerbate feelings of financial uncertainty.
• Money fog refers to feelings of fear, overwhelm, and guilt about finances.
• Men may feel financial anxiety but are less likely to express it.
• The emotional side of money is often neglected in traditional financial planning.
• Creating a new financial plan post-divorce is essential for stability.
• Money coaching typically involves a long-term relationship to address financial fears. Creating a spending plan helps alleviate financial stress after divorce.
• Understanding your money personality can improve financial management.
• Women are increasingly taking charge of their financial futures.
• Simplifying financial accounts can lead to better clarity and control.
• Investments and financial planning are crucial for post-divorce stability.
• Having a financial blueprint is essential for navigating life changes.
• Emotional processing around money is as important as practical planning.
• Access to financial accounts is critical for informed decision-making.
• Women historically faced barriers to financial independence, but this is changing.
• Regular financial reviews can help maintain clarity and reduce anxiety.

Chapters

00:00 Introduction to Divorce and Finances

06:01 Understanding Money Stories and Their Impact

12:08 Gender Differences in Financial Anxiety

18:04 Navigating the Transition Post-Divorce

27:34 Understanding Money Personalities and Their Impact

35:43 Simplifying Finances for Clarity and Control

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