280. How to Stop Making Emotional Financial Decisions with Dr. Nick

Financial Feminist

Her First $100K

Education, Self-improvement, Business, How To

4.7 • 6.6K Ratings

🗓️ 7 April 2026

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you've ever thought, "I know what I'm supposed to be doing with my money, so why can't I just do it?"–– this episode is going to change everything. I'm sitting down with Dr. Nick, a licensed neuropsychologist and executive cognition specialist, to unpack the brain science behind why smart, capable women still make emotional financial decisions. We're going into the dopamine deficit that makes long-term financial goals feel impossible to start, the norepinephrine surge that only kicks in when things become an emergency, and why "I'm bad with money" is a story your brain makes up — not a fact about who you are. Dr. Nick breaks down how emotional dysregulation silently drives impulse spending, financial avoidance, and the boom-bust cycle so many of us know too well, and more importantly, how to build systems, practice self-compassion, and rewire your brain's relationship with money, one small win at a time. Dr. Nick’s links: Website: https://www.drnicolemurray.com/ Visit ⁠https://herfirst100k.com/ffpod⁠⁠ to stay up to date and find any resources mentioned on our show. If you're feeling stressed about money, we've created a money plan to help you, no matter where you're getting started. Taking a quick 2-minute quiz to get your money plan at https://herfirst100k.com/ffpod In this episode: 00:00 How Emotional Decisions Shape Your Finances 01:47 Why Knowing Isn't Enough: The Brain Science 02:56 The Role of Dopamine in Financial Decisions 05:11 How to Create Urgency Before a Crisis 07:52 "I'm Just Bad With Money" — Debunked 10:15 What Is Emotional Regulation (And Why It Matters) 14:52 The Intensity Gauge: Rating Your Emotions 15:02 Managing the "Always at an 8" vs. Numb Baseline 17:29 Making Financial Decisions at a 5, 6, or 7 19:19 Replacing Mindless Spending With Systems 29:54 Willpower Is a Myth — Here's What Actually Works 32:11 The Case for Self-Compassion Over Willpower 35:43 The Boom-Bust Cycle of Financial Motivation 39:28 How Emotional Regulation Changes With Age 42:24 Preparing for Life's Transitions 49:00 Rebuilding Trust With Yourself and Your Money Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	If you've ever thought, I know what I'm supposed to be doing with my money, so why can't I just bring myself to do it, then this episode is for you.
0:07.2	Today, we're unpacking the brain science behind financial avoidance, impulse spending, burnout, and why motivation disappears when goals feel too far away.
0:16.7	Plus, how to build systems that actually work when willpower doesn't.
0:20.6	Today's guest is Dr. Nick, who is a licensed neuropsychologist and executive cognition specialist.
0:25.6	Her work sits at the intersection of neuroscience, psychology, and decision-making,
0:30.6	with a particular focus on ADHD, executive functioning, and the hidden cognitive costs of modern work.
0:36.6	So if you've ever just thought,
0:38.1	I need more willpower or I know what I need to do, but I can't just do it, today's episode is for you.
0:44.6	Let's get into it. But first, a word from our sponsors. This podcast is brought to you by
0:53.0	Squarespace. We love Squarespace. We've been
0:54.8	using them forever and we think you should use them too. Squarespace is the place to get your
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1:11.4	us since the chauffeur started in 2021. Whether you're just starting out or scaling your business,
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1:29.3	And when you're ready to launch, use offer code FFPod to save 10% off your first purchase of a website or domain.
1:36.2	I love learning. I wouldn't be hosting a podcast if I didn't like learning from people.
1:40.7	But you might not host a podcast. Statistically, you probably don't. So the next best thing
1:45.9	to hosting your own podcast is Masterclass. You can go to Masterclass and find the world's best
	...

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