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So Money with Farnoosh Torabi

1411: Financial Infidelity, the Cost of Divorce and What Every Spouse Needs to Know About Money

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.71.9K Ratings

🗓️ 19 September 2022

⏱️ 32 minutes

🧾️ Download transcript

Summary

How to know if your spouse is committing financial fraud or financial infidelity? What should every spouse, especially stay-at-home partners know about their family finances? How to prepare for a divorce so you're not left financially vulnerable? Guest Tracy Coenen, CPA, is a forensic accountant, who's investigated hundreds of frauds in a wide variety of industries, including cases of embezzlement, financial statement fraud, investment fraud, divorce, and insurance fraud. She has also served as an expert witness in numerous cases involving damage calculations, commercial contract disputes, shareholder disputes and criminal defense. Check out Tracy's Divorce Money Guide https://www.divorcemoneyguide.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

So money is brought to you by CNET, the site that shows how to navigate change all around us.

0:06.4

So money episode 14-11, financial infidelity, the cost of divorce, and what all spouses need to know

0:13.7

about money. You're listening to So Money, with award-winning money guru Farnoosh Karabi.

0:20.7

Each day, in a 30-minute dose of financial inspiration from the world's top business minds,

0:25.9

authors, influencers, and from Farnoosh herself. Looking for ways to save on gas or double your

0:32.8

double coupons? Sorry, you're in the wrong place. Seeking profound ways to live a richer,

0:38.0

have your life. Welcome to So Money.

0:42.7

What am I talking about when I say financial infidelity? It might be spending outside of our

0:47.8

agreements that we've made about spending. It might be secret spending. It might be wasting money.

0:53.7

It might be what I call sex drugs and rock and roll.

0:56.8

Welcome to So Money, everybody. I'm Farnoosh Karabi, a special episode today where we're going to

1:01.4

talk about the deep and dark of money. When your spouse is committing financial infidelity,

1:06.0

when you're thinking about getting a divorce, but you want to protect yourself financially first.

1:10.0

When you're a stay-at-home parent or a stay-at-home spouse,

1:13.0

I need to learn more about the financial dealings in your marriage and not

1:17.1

sure how to broach the subject. Our guest today is Tracy Conan. She's a forensic accountant

1:22.9

who's been investigating fraud for more than 25 years. She started with a dream of one day being

1:29.2

a prison warden. So she got a criminology degree, but then a class on financial crime schemes

1:35.7

reminded her how much she loved detective work as a kid. So she continued her criminology

1:41.6

degree at an accounting to it and economics and sat for the CPA exam. And now she is finding money

1:48.1

in cases of corporate fraud, high net worth divorce, and other financial shenanigans as she calls

1:55.2

them. I don't know if your spouse is committing financial infidelity, what does that even mean?

...

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