Do You Need Financial Therapy? We Discuss This New Field Of Financial Planning

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 26 March 2021

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Do you need financial therapy? Studies suggest you do...

Are you money avoidant, money vigilant, or money worship?

This week we discuss financial therapy, money scripts, cognitive bias and more.

For more information, visit the show notes at https://moneytreepodcast.com/megan-mccoy-financial-therapy/

^{Today's Panelists:}

^{Kirk Chisholm | Innovative Wealth}
^{Barbara Friedberg | Barbara Friedberg Personal Finance}
^{Megan Gorman | The Wealth Intersection}

Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.7	Stock market, wealth, personal finance, value stocks, invest in your life.
0:11.1	Hello, Smart Money Tree podcast listeners.
0:13.4	Welcome to this week's show.
0:14.8	My name's Kirk Chisholm and I'm going to be your host.
0:17.7	So today we're going to be talking with Megan McCoy.
0:20.3	Hey, Megan.
0:23.1	Hi. Good to have you on the show.
0:29.2	Megan and I talked a few times before this. And I was really excited to share her expertise and story with the audience. Today we're going to be talking about financial therapy. Please don't turn off your podcast.
0:34.4	I know it's if you don't need therapy, it's not a big deal. This is a new
0:38.0	emerging part of finance and financial planning. And it's really important. And I think you'll
0:44.3	find out why it's important as we kind of dig in here. So Megan, can you tell us a little bit about
0:49.6	your background? So I'm actually a therapist by training. And I was doing therapy and wanted to get more skills
0:57.1	and techniques for helping people. So I mistakenly went back for a PhD, which is not what a PhD is
1:03.4	about. So I'm kind of floundering around and deciding, do I want to continue taking these stat and
1:08.2	theory classes? And all of a sudden, the Financial Therapy Association
1:12.4	conference came to town. And I went in and watched a professional name Rick Kaler do a live
1:18.4	financial therapy demonstration. And I was blown away. I was like, oh my gosh, my clients need
1:23.8	this and I need this. And ever since I've kind of been on this path of exploring financial
1:29.1	therapy, which I define is simply the intersection between financial well-being and overall
1:35.2	well-being. Now I work at K-State where we have the only financial therapy graduate
1:40.0	certificate in the country and get to teach financial planning and literacy courses.
	...

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