money money money
733b what does a money coach do + the psychology of money
Aug 14, 2024
In this engaging discussion, Karen Eley, a former financial adviser and Certified Money Coach at Women Talking Finance, sheds light on the valuable role of money coaching. She explains how money coaching differs from traditional financial advising by focusing on the psychological aspects of financial behavior. Listeners discover the eight different money types, how childhood experiences shape financial habits, and simple exercises to identify personal values related to money. Karen emphasizes the importance of addressing emotional ties to foster healthier financial practices.
51:11
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- A certified money coach emphasizes understanding emotional and psychological dynamics surrounding money, going beyond mere external financial elements like cash flow and investments.
- The coaching process entails exploring individuals' unconscious beliefs and emotional experiences related to money, enabling them to address detrimental financial behaviors effectively.
Deep dives
Understanding Money Coaching
A certified money coach focuses on the inner dynamics of a person's relationship with money, rather than just the external financial elements like cash flow and investments. This approach stemmed from a need to understand why individuals often deviate from logical financial plans, highlighting that emotional and behavioral patterns around money are deeply rooted in beliefs formed in childhood. Money coaching integrates elements of financial psychology, allowing clients to explore their money-related feelings and behaviors in a structured manner. By focusing on these inner workings, a money coach helps clients become 'financial advisor ready,' equipping them with healthier financial habits before addressing more advanced financial planning.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
