Divorce is an incredibly emotional time for people, which also means it’s a particularly dangerous time for money mistakes!
Here are 3 red flags to be on the lookout for:
1.) Using money as a weapon against your soon-to-be ex-spouse. It’s likely this will boomerang back with negative consequences for you!
2.) Giving too much away to keep the peace. Some people will make too many concessions just to “get it over with,” which is not a good idea.
3.) Going into “deer in the headlights” mode. Freezing and failing to take financial action can be as bad as making hasty money decisions.
If you or a loved one is facing one of the divorce red flags, it’s important to seek guidance from a counselor and a financial coach.