Ep 458: Healthy Relationships With Money: A Psychologist Tells All

It’s somehow the middle of January — which means if you’ve made your resolutions and you’re still sticking to them, congratulations are in order! You’ve made it past Quitters Day or the day when most people abandon their resolutions (it falls on the second Friday in January). 

But if you have fallen off of your financial resolutions, this is your sign to pick them back up. Because of his year, it’s time to get serious about building some financial stability, financial resiliency, and cultivate a healthier relationship with money. 

Matt Lundquist, a Columbia University-trained psychotherapist and founder of Tribeca Therapy digs into the root of our money issues and walks us through the steps we can take to improve our relationships with money once and for all. 

CHAPTERS:

00:00 Improving financial habits in the New Year

06:00 Common barriers to good financial behavior

18:00 Why people overspend and use money to address emotional voids

28:00 When to seek financial therapy

33:00 Mailbag Question 1: What’s the best way to invest in Bitcoin with a small amount of money? 

40:00 Mailbag Question 2: How do I best support my parents in paying back my student loans? 

TAKEAWAYS:

• Many financial behaviors, such as avoiding credit card statements or overspending, are tied to deeper psychological patterns rather than a lack of financial knowledge.
• Tackling small financial disagreements early as a couple can help build a framework for handling larger financial challenges later.
• Finding the right therapist involves looking for someone experienced in discussing money-related emotions or asking targeted questions about their experience with this topic.

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