Financial Residency Financial Vitals: What Is Financial Therapy With Ed Coambs
What is your relationship like with money? Are you always trying to keep up with the Joneses? Would you and your partner benefit from financial therapy? Don't judge, because everybody can benefit from therapy.
In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Ed Coambs, a licensed marriage and family therapist, certified financial planner (CFP), and founder of Charlotte Couples Counseling. Ed shares practical tips to improve your financial behaviors and relationship with money.
Topics Discussed: • Couples Around Money: Mix of emotion, experiences, and desire to connect • Why financial therapy? Financial stress due to thoughts, emotions, behaviors • Pain Points: Spending versus saving is challenging and problematic for couples • Power Control: What does money mean and represent? What is valued most? • Equal Partnership? Understand social meaning of professional identity • Converted Skeptic: Everybody can benefit from therapy with ability to heal • Male Psyche: Character defect or discomfort doesn't make a narcissist • Financial Flashpoints: Partner's experiences and expectations around money • Money Management: Yours, mine, or our money in separate or joint accounts • Money Egg Exercise: Is your relationship with money positive or negative?
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