Why Money Feels So Hard and How to Finally Make It Easier - 34

Action Item: Find one person you trust and ask them a question about whatever financial situation you are going through right now. Then share this episode with them so you both have a foundation to build on for your new money chats.SummaryIn this episode, I dive into the mental and emotional side of money and why so many of us feel so overwhelmed by our finances. I walk through ten financial biases that could be quietly working against you, including mental accounting, overconfidence, herd mentality, and FOMO, and explain how to start using that awareness to your advantage. I also break down the four money scripts that most of us were handed in childhood, including the script a lot of us in our twenties got, which was basically just "spend less than you make and figure out the rest yourself." And then I wrap up the research with six practical steps to overcome financial procrastination. Savannah's case study shows exactly what is possible in twelve months when you stop trying to do everything at once, start talking to people you trust, and just make the goals small enough to actually win.Resources and Links MentionedFinancial Anxiety at an All-Time High (Included Health): https://includedhealth.com/announcements/financial-anxiety-at-an-all-time-high-as-americans-struggle-with-access-to-care/Behavioral Finance Biases (World Scholars Review): https://www.worldscholarsreview.org/article/biases-in-behavioral-financeFOMO, Loss Aversion, and Other Investing Biases (US News): https://money.usnews.com/investing/articles/behavioral-finance-fomo-loss-aversion-and-other-investing-biases#fomoHow Your Parents' Beliefs About Money Affect You (Psychology Today): https://www.psychologytoday.com/us/blog/mental-wealth/202108/how-your-parents-beliefs-about-money-affect-youHow to Tackle Financial Procrastination (Psychology Today): https://www.psychologytoday.com/us/blog/how-to-make-better-choices/202306/how-to-tackle-financial-procrastinationFPYA Psychology Guide: https://includedhealth.com/announcements/financial-anxiety-at-an-all-time-high-as-americans-struggle-with-access-to-care/Timestamps[00:03:15] Ten financial biases showing up in your money decisions and the three you need to know most[00:08:24] FOMO is just manufactured scarcity and here is how to spot it[00:10:04] The four money scripts and the one most of us in our twenties were handed[00:12:06] Six steps to overcome financial procrastination[00:14:53] Savannah's case study: from financial paralysis to real progress in twelve monthsEmail me at [email protected]