The Financial Therapy Podcast - It's Not Just About The Money

#18 – My Money Behaviors Are Normal (Not!)

Aug 31, 2021

This podcast dives into the emotional aspects of financial decisions and how they impact our money behaviors. It discusses the flawed logic of the home interest deduction and explores the emotions and beliefs behind our resistance towards financial success. The hosts also discuss the advantages and disadvantages of investing in tax-free municipal bonds and stress the importance of understanding the underlying emotions and beliefs that shape our financial decisions.

24:03

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Quick takeaways

Money scripts formed in childhood can lead to harmful money behaviors that negatively impact financial wellbeing.

Understanding and examining the emotions and beliefs driving financial decisions can help challenge and change self-sabotaging money scripts.

Deep dives

Money scripts and emotions around taxes

The podcast explores the emotional aspects of financial decisions and focuses on taxes as an example. It discusses different money scripts surrounding deductions and write-offs and the emotions behind them. It highlights the logical perspective of the home interest deduction and how it may not be a sound money decision. The podcast also explores the resistance to accepting raises to avoid higher income tax brackets and the emotional factors that contribute to such behaviors. It emphasizes the importance of understanding our emotions and beliefs to make better financial decisions.

Introduction

4min

The Flawed Logic of the Home Interest Deduction

12min

Exploring the Emotions Behind Money

2min

Tax-free Municipal Bonds: Balancing Tax Benefits and Interest Rates

4min

Exploring the Emotions and Beliefs Behind Money Decisions

3min

Money scripts, those beliefs that influence every money decision we make, underly and form chronic harmful money behaviors. We’ve identified 13 harmful money behaviors that can negatively affect a person’s financial wellbeing. Learn how these behaviors form in us, typically as young children and can destroy a person’s finances. Do you have any? Listen and find out.

A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.
Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

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