Dec. 1, 2021

73. Financial Anxiety

73. Financial Anxiety

Michele Paiva is a Licensed Psychotherapist, Recovery Coach, and Certified Finance Educator with 30 years of experience in helping others to see their true value in order to springboard into a full, rich life. On this episode of CFO at Home, Michelle...

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Money Mindset

Michele Paiva is a Licensed Psychotherapist, Recovery Coach, and Certified Finance Educator with 30 years of experience in helping others to see their true value in order to springboard into a full, rich life. On this episode of CFO at Home, Michelle and Vince discuss financial anxiety, spending habits, the impact of money stories on your financial behavior, and more.

Key Takeaways

  • Financial Anxiety - Having an anxious/dysfunctional relationship with money; Identifying money as a part of ourselves
  • Financial anxiety can occur in any ethnic/socioeconomic class
    • Marginalized individuals have specific challenges when it comes to money
      •  Black men, Asian woman make 20% less than White males
    • The well-to-do can struggle based on a unhealthy  relationship with money (can never have enough money, etc)
  • Our spending habits are often shaped by a need to “fit in” in your neighborhood, social group, etc
  • Your money story is often your emotional story - As you begin to understand your self-value, your net worth often starts to improve
  • Understanding your partner’s money story
    • It’s often easier to see your partner’s money story than your own
    • Be compassionate; if you’re struggling with some of your partner’s behavior that relates back to their money story, they could very easily be struggling with aspects of your behavior as well

Resources

Ways to contact/follow:

Contact the Host - vince@thecfoathome.com