What's Your Relationship With Money

What is the behavioral component and psychology of money? How do you deal with it tactically and practically? Your relationship with money is a big deal and makes a significant impact on your day-to-day decisions.    In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Danielle Seurkamp, Certified Financial Planner (CFP®) and founder of Well Spent Wealth Planning. Danielle focuses on the behavioral side of financial planning and personal finance and helps individuals and families to effectively achieve their financial goals. Topics Discussed: Financial Literacy: Ability to use knowledge, skills to manage financial resources Mental and Emotional Errors: Get in the way of ability to use knowledge/skills Financial Flashpoints/Money Scripts: Experiences shape relationship w/ money Financial Memories: Think about your past to identify your own money beliefs Financial Half-truths: Problems and promises can be positive or negative Financial Fears: Money is how you provide yourself food, shelter, and stay alive Financial Patterns: Be aware of reasons you spend money based on behaviors Awareness Exercises: Intentionally notice, track, and document feelings via journaling Make a counter-argument to push against your promises and beliefs Create genogram/chart of your family’s financial history Take money script inventory quiz Gain clarity on your values Financial Therapy: When to seek out help with money and relationships Links: Danielle Seurkamp on LinkedIn Financial Planning & Sustainable Investing - Well Spent Wealth Planning Genograms for Psychotherapy (Guide) - Therapist Aid Start Money Script - Your Mental Wealth Advisory Using a Journal Can Change Your Life - Jim Rohn Personal Values What Is Financial Therapy With Ed Coambs 3 Exercises To Help You Clarify Your Values Contact Finance for Physicians Finance for Physicians Full Episode Transcript: Daniel: What's up everyone? I am excited to have a guest with me today. We're going to be talking about money, of course, but talking about your relationship with money. My guest today is Danielle. Danielle, can you give us a quick intro? Say hello to everyone. Danielle: Everybody, I'm glad to be here with you. My name is Danielle Seurkamp. I'm a CFP. I am the founder of Well Spent Wealth Planning based in Cincinnati. I am fortunate enough to be in a study group with our illustrious host, Daniel. Daniel: Yeah, illustrious. It's good work. Danielle's not given you the full story. She's got an incredible background. She has all these designations and has all sorts of great involvement in our industry. If I was to boil down, Danielle has kind of gravitated towards the behavioral side of financial planning and personal finance. You have certified financial behavior specialists, that's one, and then you have a Master's. Danielle: Right, yup. Actually, my Master's was my first kind of introduction into the psychology of money, a...