Speaking of Psychology Why it’s important to talk about money, with Wendy De La Rosa, PhD
Sep 13, 2023
Wendy De La Rosa, PhD, a financial expert from The Wharton School, discusses the challenges of taking financial action and the impact of financial stress on relationships. She provides practical advice for financial success, emphasizes the negative effects of early wage access apps, and calls for an improved tax-filing system. The hosts explore the taboo nature of money topics and advocate for destigmatizing money conversations.
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Financial struggles
- People know what they need to do financially, but life gets in the way.
- Shame and constant exposure to spending opportunities make it harder.
Earning vs. Saving
- People prioritize earning over saving, focusing on income over expenses.
- They feel more control over expenses and believe earning more is key.
Money and Relationships
- Couples should discuss finances openly, even if they keep them separate.
- One partner managing finances can lead to skill discrepancies and vulnerability.