Ep 458: Healthy Relationships With Money: A Psychologist Tells All

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 15 January 2025

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s somehow the middle of January — which means if you’ve made your resolutions and you’re still sticking to them, congratulations are in order! You’ve made it past Quitters Day or the day when most people abandon their resolutions (it falls on the second Friday in January). But if you have fallen off of your financial resolutions, this is your sign to pick them back up. Because of his year, it’s time to get serious about building some financial stability, financial resiliency, and cultivate a healthier relationship with money. Matt Lundquist, a Columbia University-trained psychotherapist and founder of Tribeca Therapy digs into the root of our money issues and walks us through the steps we can take to improve our relationships with money once and for all. CHAPTERS: 00:00 Improving financial habits in the New Year 06:00 Common barriers to good financial behavior 18:00 Why people overspend and use money to address emotional voids 28:00 When to seek financial therapy 33:00 Mailbag Question 1: What’s the best way to invest in Bitcoin with a small amount of money? 40:00 Mailbag Question 2: How do I best support my parents in paying back my student loans? TAKEAWAYS: Many financial behaviors, such as avoiding credit card statements or overspending, are tied to deeper psychological patterns rather than a lack of financial knowledge. Tackling small financial disagreements early as a couple can help build a framework for handling larger financial challenges later. Finding the right therapist involves looking for someone experienced in discussing money-related emotions or asking targeted questions about their experience with this topic. Learn more about Jean Chatzky's multiweek Money Makeover program FinanceFixx here. Use code PODCAST for a $100 discount. Interested in learning more about investing alongside hundreds of other women? Join us every other Monday night on Zoom at investingfixx.com. Your first month is completely free. Have a question for us? Write to us (or send us a voice note!) at [email protected]. While you’re at it, join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an Airwave Media podcast.
0:09.4	Hey, everyone, it's Gene Chatsky.
0:11.7	Thank you so much for joining me today on her money at the start of the new year, a fresh calendar page.
0:20.2	That also means it's a really good time to think about making some changes in our lives if we need them.
0:27.0	And by the way, who doesn't?
0:29.0	I've got to say, according to some recent data, some of us really are in need of a change.
0:34.7	A study by Wells Fargo showed that when it comes to our finances, 42% of
0:40.7	Americans say they're not able to live within their means. And another quarter say they're in
0:47.7	poor financial shape, which to me says maybe 2025 is the year that we get serious about building some financial stability,
0:57.9	financial resilience, a healthier relationship with money overall. But here's the thing. Sometimes
1:05.9	money is not just math. Often money is not just math. There are typically, I think, some undiscovered,
1:17.6	sometimes hidden reasons why many of us would rather not look at the statements that reflect our
1:25.6	holiday spending, why we loan money to friends when we really
1:30.1	can't afford to do that, why we don't save more, why we don't invest at all.
1:37.4	There are so many things that we do or don't do that leave us feeling stressed out about our finances.
1:45.9	And it's really only once we dig in and start to understand the psychological and emotional
1:51.9	reasons behind why we do what we do that we can start to change our behavior in a way
1:59.7	that actually sticks. We have seen this over and over
2:04.2	again in our finance fix course. One of the things that we do in that course is take a dive into
2:10.3	your money story. We unpack your money history, which is basically the way you were raised, it's not necessarily what you were taught,
2:20.6	but really what you absorbed in your home of origin.
2:25.0	And once you understand that those elements still have a hold on you, no matter how old
	...

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