The Financial Therapy Podcast - It's Not Just About The Money

The concept of Money Scripts was coined by Drs. Ted and Brad Klontz and Rick Kahler in 2005 and first appeared in Conscious Finance – Uncover Your Hidden Money Beliefs and Transform the Role of Money in Your Life, co-authored by Rick Kahler and Kathleen Fox.  They have become common language in describing the underlying thoughts and beliefs a person has about money, that drive financial behaviors.  In this podcast, Rick updates listeners on his latest thinking of how money scripts form that differs from the original teaching. A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

In my experience, IFS Informed Financial Therapy is one of the more effective methodologies in helping clients resolve money issues. The power of the IFS protocol was demonstrated in my recorded conversation with Dr. Helen E. Lees, editor of PARTS & SELF, the international voice of the IFS Foundation. Because this was a type of interview with me, the session was not a normal IFS Session and did not follow the standard IFS protocol. It was more of a coaching session for Helen to showcase to the readers of PARTS & SELF what financial therapy in an IFS context looks like or to discuss what it is. However, even without the normal IFS protocol, the session highlights the powerful impact of applying the IFS process to money issues.A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

Consuming a diet of just one type of news bias can result in long-term damage to your financial and emotional wellbeing.  It can destroy relationships and making evidence based, reasoned, and informed financial decisions.  For example, selling out of the stock market or going all-in solely on one’s political beliefs and bias are almost always a recipe for financial disaster.  I’ve watched in time and time again over my 40 years of advising clients on their financial wellbeing.  Some of the financial consequences I’ve witnessed are heartbreaking.A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

Transparency is a highly valued attribute that extends to individuals, businesses, and government.  It is often touted, routinely promised, and often undelivered.  How many political candidates have promised to be the most transparent office holder ever, only to actually deliver the complete opposite?  The same is true of companies and individuals, promising to be transparent only to deliver opaqueness.  When it comes to promising transparency, it often seems the more a person or company touts it, the higher the probability it will not be delivered.  Perhaps Shakespeare’s famous line from Hamlet, "The lady doth protest too much, methinks" is a fitting warning.A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

In my experience, IFS Informed Financial Therapy is one of the more effective methodologies in helping clients resolve money issues. The power of the IFS protocol was demonstrated in my recorded conversation with Dr. Helen E. Lees, editor of PARTS & SELF, the international voice of the IFS Foundation. Because this was a type of interview with me, the session was not a normal IFS Session and did not follow the standard IFS protocol. I’ve seen clients make progress much faster in resolving their money issues when financial therapy is combined with IFS, it still is normal that the process will take several months or longer. As with most therapy, there are not many “quick fixes.” That said, I was impressed with how quickly Helen worked through the whole process.A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

Financial New Year’s resolutions are a common phenomenon this time of year—especially for anyone who overdid the holiday spending and who knows the new year is going to bring a new batch of credit card bills. Probably one of the most common financial resolutions is: “I’m going to make a budget and stick to it.” I’ve not written much on New Year’s Resolutions over my 30 plus years of writing a personal finance column.  Why?  Because “white knuckling” any meaningful behavioral change is rarely successful. A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

With all the supply chain chaos, inflation, and uncertainty in the economy, this year is a perfect time to celebrate Christmas in the manner of Ebenezer Scrooge. Am I suggesting you celebrate Christmas like a cold-hearted skinflint? After all, Ebenezer Scrooge is probably the most famous miser in literary history. With the current economic uncertainty, most of us could logically support following his example of spending less, or even nothing, in uncertain financial times. A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

In Part 2 of Rick’s discussion with Sonya, they discuss trauma and its impact on a person’s financial decisions. Sonya will also reveal the common denominator a person that suffers a significant loss in their lives is resiliency. The answer took Rick by complete surprise.A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

Rick talks with Sonya Britt-Lutter who is one of the pioneers of financial therapy.  Sonya was the first “real” financial therapist I knew of to have formal training in financial planning and therapy.  Listen to her journey to becoming a founder of financial therapy, which included her turning down a position with Rick, getting a doctorate in financial planning, and becoming the first president of the Financial Therapy Association. A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

Tyler and Kristen wanted a modern four-bedroom house with a three-car garage within their price range.  They bought a 75-year-old three-bedroom fixer upper with a one car garage that was over their price range. Real estate agents have a saying that “buyers are liars.”  Are they really, or was there something deeper, more emotional driving their decision?A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.