Everyone makes financial mistakes, even those that we trust with money the most. Rachel “Money Honey” Richards to many people online is the epitome of someone who has their finances locked down. She grew a massive real estate portfolio in her twenties, hit financial freedom before thirty, and has written bestselling books that others use to increase their financial acumen. And although Rachel still is a financially free money nerd like no other, her recent divorce changed most of what she knew.

Through a few simple mistakes, Rachel’s recent divorce dragged on longer, cost more, and left more up to chance than she would have liked. After going through the pain, struggles, and anxiety of leaving the marriage, Rachel wants everyone, whether single, dating or married, to not make the same mistakes she made. These mistakes are often small, and can be easily overlooked, but making them could be deadly to your finances and allow an unplanned divorce to bury you.

But this isn’t all advice on what to do before or during a divorce. Rachel shares personal advice on red flags you should look for when starting a relationship, how to separate your finances so you keep what is yours, and why overlooking a prenup can be one of the worst moves to make when starting your marriage. No one plans for a divorce, and Rachel didn’t as well. So happily ever after or not, these life-saving moves are ones you should be thinking about making.

00:00 Intro
01:26 Misaligned Visions and Getting Divorced
05:40 Signs of a Split
13:24 From 38 Doors to 2
18:09 Splitting the Assets
25:46 4 Big Marriage Mistakes
31:11 Get a Prenup!
37:32 The True Cost of Divorce
38:41 Lessons Learned
51:58 Connect with Rachel

Show Notes at:
https://www.biggerpockets.com/blog/money-364?utm_source=youtube&utm_medium=description&utm_campaign=none
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Join the BiggerPockets Money Facebook Group:
https://www.facebook.com/groups/bpmoney
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Find an Investor-Friendly Agent in Your Area:
https://www.biggerpockets.com/agent/match?utm_source=owned_media
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Past Episodes with Rachel:
Real Estate: https://www.biggerpockets.com/blog/biggerpockets-podcast-454-rachel-richards?utm_source=youtube&utm_medium=description&utm_campaign=none
Money: https://www.biggerpockets.com/blog/money-317?utm_source=youtube&utm_medium=description&utm_campaign=none
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Why You’re (Probably) Wrong About Prenups:
https://www.biggerpockets.com/blog/money-301?utm_source=youtube&utm_medium=description&utm_campaign=none
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Divorced and $250K in Debt to Financially Free in 10 Years:
https://www.biggerpockets.com/blog/money-345?utm_source=youtube&utm_medium=description&utm_campaign=none
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Grab Rachel’s Free Passive Income Starter Kit:
https://moneyhoneyrachel.ck.page/passiveincome
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Pickup Rachel’s Books:
Passive Income, Aggressive Retirement: https://www.amazon.com/gp/product/1706203020/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=moneyhoney02-20&creative=9325&linkCode=as2&creativeASIN=1706203020&linkId=dcf601d1d5c46f5b7f1f460d3b665817
Money Honey: https://www.amazon.com/gp/product/B075HGM2WG/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=moneyhoney02-20&creative=9325&linkCode=as2&creativeASIN=B075HGM2WG&linkId=0256b45fae14a9b44a8039d5678c216e
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Connect with Rachel:
BiggerPockets: https://www.biggerpockets.com/users/rachelrichards
Website: https://moneyhoneyrachel.com/
Instagram: @moneyhoneyrachel or https://www.instagram.com/moneyhoneyrachel/
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Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: https://www.biggerpockets.com/guest?utm_source=youtube&utm_medium=description&utm_campaign=none
Finance Friday: https://www.biggerpockets.com/financereview?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Scott and Mindy on BiggerPockets:
Scott: https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none
Mindy: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none

Episode 364

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