The Wealthy Barber Podcast
#16 — Kelley Keehn: Breaking Free from Debt, the Psychology of Overspending and How to Avoid Financial Fraud
May 6, 2025
Kelley Keehn, a best-selling author and personal finance expert, dives into the pressing issues surrounding debt and overspending. She discusses the psychological traps that lead to financial strain and offers practical strategies to break free from debt. The conversation highlights the subtle pressures to spend and the importance of mindful purchasing. Kelley also sheds light on the rising threat of financial fraud, urging listeners to stay vigilant and informed. Her insights empower Canadians to foster healthier relationships with money.
47:10
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Quick takeaways
- The emotional toll of debt can isolate individuals, making it vital to normalize discussions about financial struggles for better management.
- Practical strategies like prioritizing debt repayment methods and seeking professional financial advice can significantly aid in overcoming financial burdens.
Deep dives
Understanding Debt and Its Psychological Impact
The current debt situation in Canada is alarming, with many individuals facing rising interest rates on their credit accounts, particularly those that were once manageable. Debt brings with it a significant psychological burden, as individuals often do not discuss their debt out of shame, leading to isolation and compounded stress. The podcast emphasizes the need to normalize conversations about debt, encouraging individuals to confront their financial situations instead of falling into apathy. It highlights the importance of understanding personal financial stories and breaking the cycle of debt through open discussions and proactive management.
