Cash Wise Ex-Wives with Kayla Sloan and Shanah Bell
As many of you know, I’m a divorced single mom and I personally don’t think there’s enough conversation and discussion around the specific financial challenges of going through a divorce and then going from running your money as a couple to running it as a single person, which was why I was so excited to see the new group, Cash Wise Ex-Wives, being led by my two friends Kayla Sloan and Shanah Bell. These two ladies join me today to talk about why they started this group, share their divorce experiences and how they want to help divorced women and men become more cash wise.
What are we drinking?
Kayla — Rum and Coke
Shanah — Pinnacle Gin with lemonade and lime seltzer water along with basil, lime, herbs, and ice
Shannon — Deep Eddie’s grapefruit vodka with club soda
- The idea for Cash Wise Ex-Wives came about a few months ago, when both Kayla and Shanah each received feedback about their divorce stories. They felt compelled to create a resource for people going through divorce.
- Kayla and Shanah went though divorces and didn’t feel like there was anywhere to turn for information.
- Kayla was 19 when she got married and was not married quite a year before she got divorced.
- Shanah was 25 when she got married and was 30 when she got divorced.
- It doesn’t matter how long you are married, there are always challenges going from teamwork to lone wolf.
- Cash Wise Ex-Wives is a private Facebook group. Their goal is to create one place people can go to for resources. They want to create a live, interactive session each month that features an expert that addresses a challenge people face.
- This is geared toward people who are contemplating divorce, in the middle of it, or on the other side of it.
- The sessions will be recorded and stored in the closed Facebook group.
- Kayla did her divorce by herself, because she was broke and didn’t have any assets or children. She spent hours Googling information and she doesn’t want anyone else to have to do that.
- Shanah originally thought about doing her divorce herself. It started getting complicated with child support, custody, and assets so she hired a lawyer. She asked around to get recommendations. Her divorce was not amenable and was drawn out over a year.
- Divorce can be a very scary and costly process, especially if you have a lot to sort through.
- Shannon wanted to DIY her divorce, but her ex-husband hired an attorney. She and her ex-husband met up and worked through everything together, so they could have it all sorted out to give to the attorney to write up. Shannon read through the final document to make sure it was what they agreed on and she represented herself in court.
- The more the two of you can agree on, the less you will need to pay.
- You can always represent yourself in any legal matter.
- When you get engaged, it is the happiest time of your relationship. That is the time to negotiate the end (pre-nup), because you will be the most fair. When the relationship ends, emotions get in the way, plus it shows you how the other person will treat you.
- Shannon didn’t get married thinking it would end. She had every intention of it working out. It doesn’t have to be nasty. You can’t just walk away and never see this person again, if you have kids together.
- The best thing you can do for your kids is to set your differences aside and work together.
- Every month Kayla and Shanah are going to tackle one topic/challenge a month and address the emotional aspect as well. Their tagline is they want to help keep divorce from killing your finances.
- Shannon does her own financial plan and is making changes because her numbers aren’t working. She recently had to make the tough decision to sell her house. She has been maintaining the house on her own for two years, because she wanted it for her son. It is hard to take emotions out of decision making.
- Men are allowed in the Facebook group.
- Cash Wise Ex-Wives charges a monthly fee:
- Basic level includes access to the Facebook group, live videos, and resource library. The cost is $27.00 per month. They are currently running a special – use coupon code BABY10 to bring the cost down to $17.00 per month to get started.
- Go-Getter level includes everything in the basic level as well as one monthly personal call with Shanah or Kayla to dive deeper into a topic you may not want to share in the group. The cost is $47.00 per month.
- Killing it level includes everything in the basic level and two monthly calls. The cost is $77.00 per month.
- The cost is only going to be worth it if you put the effort into using the information that is available.
TAKEAWAY: No matter what your current marital status is, please get comfortable making money decisions and please educate yourself on not only how to do it but how much you need to survive. There is nothing worse than staying in a bad marriage or relationship because of your money situation. You can and should have control over it if for nothing else, your own happiness and nothing is more important than that.
Random Three Questions
- Would you ever get married again?
- What’s a show that you binge watch?
- What do you do to relax?
Connect with Kayla and Shanah
If you need someone to chat about finances if you’re going through a divorce, thinking about it, or you’re on the other side of it, I hope you’ll reach out to my team at the Financial Gym. One of the best roles my trainers play in their clients’ lives is the sounding board you need for life’s tough money choices. You can schedule a free call here to find out more. No matter where you are in your financial journey, my financial trainers can help you get where you want to go. So head over to or send friends to financialgym.com/friends to sign up today!