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

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.

The “what would people think” money scripts are often externally driven and very cultural. We tend to associate with and live near people who mirror our financial circumstances and money scripts. Such a “financial comfort zone” is shared by people who tend to have similar incomes, lifestyles, spending and savings habits, and beliefs about money.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.

It’s not very often that I read an estate plan that treats children unequally. In estate planning, “equal” isn’t necessarily the same as “fair”.  Even when siblings agree that an unequal distribution is fair, they may feel a lot of internal resistance, even though they may be unable to articulate the reasons, which can be as numerous as the stars and would take a book to cover.  The important thing to acknowledge is that the emotions behind the reasons are not trivial but rather important and should not be dismissed or minimized.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.

Recently, I wrote a column and did a podcast on the personalities that tend to invest in crypto.  This article was the genesis of a conversation with some of my peers about the recent crypto meltdown. One emailed me an article that forms on Reddit were posting suicide prevention phone numbers, “  He ended his email with, “Suicide prevention hotlines…Wow…” Join me for an exploration of financially motivated suicide.https://thefinancialtherapypodcast.com/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.

Raising your fees or asking for a higher wage is fraught with emotions and money scripts.  I recently had to work at convincing a vendor to raise her hourly fee she charged me.  My concern was that I wanted to be sure I was paying her a market rate.  That meant a 20% hike in her hourly fee, which she was fearful of doing because she didn’t want to lose my business.  I should know, as I go through the same difficult emotions myself when I raise my fees. 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.

How would you feel to find out your financial planner, financial coach, or financial therapist actually faced bankruptcy five times in their life?  Nervous?  Concerned?  Well, that’s exactly what I told the world in an interview that I did with Morey Stenner for MarketWatch.com,  Once I read the story, I had a few vulnerable parts of myself question if that was a good idea. 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.

Money probably isn’t what you think it is, even though you think it may consume your thoughts and run your life.  In this episode I delve into 15 elements of money that may surprise you, anger you, or maybe relieve you.  Your understanding of money may never be the same again.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.

The Vow of Poverty is a hurtful financial behavior wrapped in a cloak of looking good. Almost no one vows to exist in a state of poverty, which is not have enough money to meet basic needs of food, clothing and shelter.  The Vow of Poverty I am talking about is an intentional, conscious decision to minimize, even villainize, the importance of working for or accumulating money.  This behavior usually comes from two flavors: a righteous, holier-than-thou attitude that money corrupts, is bad, is evil, and that the morally superior askew it or that by doing the right thing the Universe or one’s Higher Power will provide all of one’s basic needs for life.  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.