Have you ever felt overwhelmed by your finances? Do you find yourself either making purchases as "retail therapy" or avoiding looking at your statements and online accounts? Or maybe, on the other end of the spectrum, you find yourself hoarding cash because you don't know when the next "rainy day" is going to arrive? In all of these cases and more, you might be experiencing financial trauma, a topic that is the focus of today's Stacking Benjamins live round table at FinCon 2024 in Atlanta, Georgia. Hosted by Joe Saul-Sehy and featuring licensed family and marriage therapist Wendy Wright, certified financial planner Lawrence Sprung, and Afford Anything's Paula Pant, the discussion dives into the deep-seated emotional aspects of money. You'll learn about the signs of financial trauma, such as neglecting finances, overspending, and hoarding, and how these behaviors can impact your life. The panel offers insights into addressing and overcoming these issues, emphasizing the importance of compassionate curiosity and seeking professional help when needed. Whether you're living paycheck to paycheck or have a significant net worth, this episode will guide you on the path to better financial health and well-being.
RUN OF SHOW
Opening Banter and Introduction
Live from FinCon 2024
Meet the Panelists
Diving into Financial Trauma
Signs of Financial Trauma
Scarcity Mindset and Personal Stories
Cultural and Individual Financial Trauma
Judgment and Financial Secrecy
Inherited Wealth and Emotional Struggles
Behavioral Finance in Financial Planning
Building Compassionate Financial Relationships
Recognizing Financial Trauma: Hoarding
Societal Views on Hoarding vs. Saving
Personal Stories of Financial Extremes
Balancing Financial Planning and Living in the Present
Diagnosing Money Hoarding and Anxiety
Steps to Address Financial Anxiety
Exploring False Connections with Money
The Importance of Financial Planning and Adjustments
Tracking Spending and Financial Awareness
Principles of Financial Therapy
When to Seek Financial Therapy
Conclusion and Resources
FULL SHOW NOTES:
https://stackingbenjamins.com/overcoming-financial-trauma-1595
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at
https://www.StackingBenjamins.com/201
Enjoy!
Learn more about your ad choices. Visit
podcastchoices.com/adchoices