Financial Empathy & How Systems Influence Our Decisions w/ Dr. Michael Thomas

In this episode, Rory speaks with Dr. Michael Thomas, lecturer at the University of Georgia, accredited financial counselor, and author of Black Financial Culture: Building Wealth from the Inside Out. Known for his TED Talk on financial empathy, Dr. Thomas explores how financial decisions are shaped not just by personal choices but by the systems we navigate—familial beliefs, societal norms, technological influences like social media algorithms, and even the way physical environments encourage spending. Discover how financial socialization—the way we inherit money beliefs—impacts behaviors, and why financial empathy, incorporating cognitive, emotional, and compassionate understanding, is essential for building trust. Dr. Thomas also shares the NURSE acronym (Name, Understand, Respect, Support, Explore), a powerful framework for financial advisors to deepen client relationships and foster behavioral change. Learn why businesses leverage psychological triggers to influence spending habits, how advocacy can drive financial literacy reform, and how financial professionals can move beyond just education to empower real action. Are you curious about how systems shape our behaviors? Want to learn how financial empathy can help clients overcome shame and take control of their financial future? Find out the answers to these questions and more in this engaging and thought-provoking conversation with Dr. Michael Thomas.

Book: Black Financial Culture: Building Wealth from the Inside Out

https://www.amazon.com/Black-Financial-Culture-Building-Wealth-ebook/dp/B0BY1SLHRJ

Hire Dr. Michael:

https://www.modomsolutions.com/