Success Story: Make Your Divorce an Easier Journey

a quote from Hailey in Washington that says, 'My Money Coach instantly made me feel comfortable sharing my situation with her and that we could do this together. She provided step-by-step information to help my start my journey.' on a blue overlay covering people's faces in the background

Going through a divorce is a whole lot easier when you have someone by your side to help you decide how to move forward financially, remind you of important steps, and provide moral support.  For Hailey, that was Tess: a Money Coach she started working with through the My Secure Advantage (MSA) Financial Wellness program.

When asked about her experience with Tess, Hailey explained, “I am filing for legal separation and trying to figure out my new financial situation.  I asked my coach about issues such as budgeting, buying a new house, taxes, and paying for college.  My Money Coach instantly made me feel comfortable sharing my situation with her and that we could do this together.  She provided step-by-step information to help me start the journey.”

Adjusting Hailey’s withholdings would increase her monthly pay and ease her financial stress.  From there, Tess and Hailey tackled the next topic.

The House

When Hailey started working with her Money Coach, she and her husband couldn’t agree on how to handle the house in the separation.  Tess explained the different options available for splitting up the property, and helped Hailey calculate what would be a fair share.  She estimated that Hailey would be able to get $40,000 at the most or $28,100 depending on how she wanted to handle the real estate commission and closing costs.

In the end, Hailey’s husband took over the mortgage, so they decided to allot her $25,000 for the house.  She was happy with that conclusion and knew she wanted to use the money wisely, so she continued to work with Tess.  As a result, Hailey is allocating some of the money towards building her own home, and increasing her 401(k) contribution from 1% to 4% to better prepare for retirement.

Talking over the options with Tess helped Hailey understand what would be a reasonable allotment for herself while still respecting her husband’s interests.  This was important to Hailey because, although they were struggling to come to an agreement on the house, the divorce itself was amicable, and working with Tess – a neutral third party with financial expertise – helped maintain positivity.

Legal Proceedings

Divorce can be a touchy subject, whether it’s amicable or not, so finding a respectable and caring attorney can make all the difference.  Through the MSA program, Hailey was able to get a referral to an attorney in her area who not only specializes in domestic relations but also provides excellent customer service.  Because Hailey got the referral through MSA, she also received a 25% discount off the attorney’s fees, which made the legal process less of a financial burden.  She also got smart legal forms through her personal MSA website for quick and easy access.

Through the meetings with her Money Coach and the resources available, Hailey received valuable insight concerning the options available that would accommodate her wishes while still accounting for her husband’s best interests; consequently, Hailey gained the confidence she needed to move forward with the divorce, feel better about her new financial situation, and maintain a positive perspective.

For more information about how a Money Coach can help you, call 888-724-2326 today.