This Is Uncomfortable
“How do I stop overspending?”
Mar 21, 2024
Financial therapist Megan McCoy answers burning financial questions in this episode, including navigating financial differences with friends, talking to avoidant partners about money plans, making big career decisions, and learning how to curb spending. The episode dives into research studies on happiness from spending money on others, making life decisions, and the impact of money on happiness.
29:23
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Quick takeaways
- Understanding personal money attitudes influences financial well-being.
- Spending on others can promote happiness, but self-care is crucial for personal well-being.
Deep dives
Understanding Financial Therapy and Money Scripts
Financial therapist Megan McCoy discusses the importance of understanding our history and values related to money to create financial goals and achieve financial peace. She highlights the emotional side of money and how unconscious beliefs, known as money scripts, can influence our financial behaviors. Megan categorizes people into four groups based on their money attitudes: money avoidance, money worship, money status, and money vigilance, explaining how these attitudes impact financial well-being.
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