How to Become the CFO of Your Life

In this empowering episode, Tracy Coenen is joined by Michelle Smith, a renowned wealth manager and founder of Wife2CFO, to discuss how women can take control of their financial futures during and after divorce.

With 30 years of experience in personal finance, Michelle has worked with thousands of women to demystify money management and equip them with the tools to become the CFOs of their lives. Her platform, Wife2CFO, is a judgment-free zone for financial literacy, helping women navigate the complexities of finances with confidence and clarity.

Tracy and Michelle dive into the common challenges women face in divorce, including the “money coma,” emotional decision-making around assets, and lack of financial transparency in marriages. They share actionable strategies for preventing financial mistakes, understanding your numbers, and building a secure future—regardless of your starting point. This conversation is a must-listen for women ready to reclaim their financial independence.

Whether you’re in the midst of a divorce, thinking about your financial future, or simply looking for inspiration, this episode is packed with practical advice and encouragement. Michelle’s blend of empathy, expertise, and empowerment will leave you ready to take the next step in your financial journey.

Episode Highlights:

The ‘Money Coma’ Defined: Michelle explains the critical moment when many women unknowingly surrender financial control—and how to reclaim it. She shares tips for maintaining transparency and staying involved in financial decisions.

Breaking Emotional Attachments to Assets: Learn why keeping the house might not always be the best financial choice and how to approach divorce negotiations with logic and clarity.

Trust, But Verify: Tracy and Michelle emphasize the importance of understanding what you’re signing. From tax returns to home equity lines, they provide strategies to pause, ask questions, and seek professional advice without fear.

The Two Numbers Every Woman Must Know: Michelle highlights the importance of understanding “the cost of your life” and your “rate of withdrawal” to ensure financial security over the long term.

Practical Tools for Financial Empowerment: Get tips on tracking spending, building your financial knowledge, and finding a professional who explains concepts in a way you understand—no math degree required!

Financial knowledge is power.  Women are often told they aren’t “good at math” or “financially savvy,” but Michelle debunks these myths. Financial management is a skill anyone can learn with the right guidance.

Preparation is prevention. Whether it’s taking copies of key financial documents or understanding tax returns, preparation is the first step to protecting yourself from future financial vulnerabilities.

Own your financial future and don’t let fear stop you. You must know more about your finances if you want to take control of the money.  From dealing with a controlling spouse to feeling overwhelmed by numbers, fear is a common barrier. Michelle and Tracy provide strategies for taking small, actionable steps to overcome it.

Resources Mentioned:
Wife2CFO: https://wife2cfo.com/

Complimentary Consultation:  https://calendly.com/swm28/wife2cfo-appointment

This episode is a rallying cry for women to take control of their financial destinies. With the right tools, guidance, and mindset, you can move from feeling overwhelmed to becoming the CFO of your life. Start by listening to this engaging and educational conversation with Michelle Smith, and don’t forget to share it with friends who might need a financial confidence boost!

Source Financial Advisors is now a part of Savant Wealth Management as of 12/09/2024. Savant is a Registered Investment Advisor. A copy of our current written disclosure Brochure discussing our advisory services and fees is available upon request or at savantwealth.com. This content is intended for informational purposes only and should not be construed as personalized financial advice. Please consult your qualified professional regarding your unique financial situation. Savant is not affiliated with Divorce Money Guide or its creators. This presentation should not be construed as an endorsement of any products, services, or opinions expressed therein.