BiggerPockets Money Podcast

453: How to Conquer Financial Trauma & Develop a HEALTHY Relationship with Money

Sep 25, 2023

Guest Shannah Game, author, entrepreneur, certified financial planner (CFP), and host of the Everyone's Talkin' Money show, discusses common signs of money trauma, avoiding triggers, and practical exercises to conquer financial fear on the journey to financial freedom.

01:05:29

Episode guests

Shannah Game

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Episode notes

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Quick takeaways

Money trauma is a common experience that can hinder individuals from achieving their financial goals and manifest in behaviors like overspending or extreme frugality.

Engaging in self-reflection exercises, such as journaling and exploring negative money beliefs, can help individuals identify and address money trauma to create healthier habits and achieve financial goals.

Recognizing triggers, examining underlying thoughts and emotions, and practicing mindfulness techniques can help individuals unravel money trauma and develop a healthier relationship with money.

Deep dives

Money Trauma and its Widespread Impact

Money trauma is a common experience for most individuals, with nearly every person having some form of money trauma. It can range from mild patterns and beliefs to more intense panic responses. Money trauma is often influenced by childhood experiences, such as witnessing money tension or financial abuse. Trauma patterns can also be passed down through generations. These patterns and beliefs can create strong emotions, fear, shame, anxiety, anger, around money. These experiences and emotions can hinder individuals from achieving their financial goals and can manifest in behaviors like overspending or extreme frugality. Recognizing and addressing money trauma is crucial to breaking free from restrictive patterns and creating a healthier relationship with money.

Introduction

2min

Addressing Financial Trauma and Developing a Healthy Relationship with Money

5min

Unraveling Money Trauma

22min

Conquering Financial Trauma and Developing a Healthy Relationship with Money

5min

Home Security and Landlord Insurance

2min

Overcoming Financial Trauma

29min

Financial Trauma and its Impact

6min

Financial trauma is an extremely common roadblock on the journey to financial freedom. In fact, most people deal with this issue on some level, even if they aren’t aware of it. Whether your trauma patterns stem from your parents’relationship with money or an instance of financial abuse, know that there’s light at the end of the tunnel!

Welcome back to the BiggerPockets Money podcast! Today’s guest is Shannah Game—author, entrepreneur, certified financial planner (CFP), and host of the Everyone’s Talkin’ Money show. Shannah would be the first to tell you that her relationship with money has been far from perfect. Having grown up in a family where money decisions were always heavily scrutinized, Shannah has worked hard to not only address her own deep-rooted money trauma but also help others overcome similar traumatic patterns in their lives.

If your negative experiences with money are preventing you from achieving your financial goals, tune in as Shannah shares her expertise on an issue that is sorely overlooked today. In this episode, you’ll learn how to name and work through your unique money trauma, avoid your biggest money triggers, and get back on the straight and narrow toward financial freedom. You’ll also learn the most common signs of trauma to look for, as well as practical exercises you can use to get your financial fear under control!

In This Episode We Cover

The most common signs of money trauma to look for in your own life

How financial trauma is passed down through multiple generations

Two questions you MUST ask to uncover the root cause of money trauma

Working through money trauma patterns to reach your financial goals

Exercises to practice when experiencing a traumatic money-related event

Why you NEED to talk about finances with close friends and family members

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding