Episode #10: “Why Financial Therapy Can Help…..Everyone!”

Lindsay Bryan-Podvin is a biracial female social worker turned financial therapist, author and speaker. As the first financial speaker in Michigan, she asserts that she “talks about money in a way that doesn’t make other people feel gross”. She holds a Masters degree in Social work at the University of Michigan and a Bachelor’s degree in sociology from Michigan State University. She is the author of the book “Financial Anxiety Solutions”, which has been featured in various articles, podcasts and blogs.  She is also the founder of Mind Money Matters which helps high earning couples strengthen their relationship with money using financial psychology.

Show Highlights:

  • Financial Therapy is about understanding our money mindsets. Looking at our money tendencies and asking ourselves, “is this helping me?” or “how much is it helping me?”
  • How our money scripts impact all our spending
  • We gain power over our money stories once we start to untangle them
  • We all have layers that make up our money stories
    • Without recognizing and coming to terms with these stories no matter how much information we consume, we might find difficulties making changes
  • WHY understanding your money “values” is critical for financial balance
  • Why our brains aren’t wired for managing money
  • Often Money is a cover for so many things from our past…positive or negative
    • As we move through our money relationships, we start to untangle these
  • The Power of Cognitive Reframes:
    • Instead of saying, “I am bad at money”. We can say use more positive language.
    • Going from negative to neutral to positive

Book Recommendations:

Show Notes:

Lindsay shares how she got into a career that deals with money [02:11] Lindsay discusses the  money story in her house, while growing up [06:24] Lindsay explains how the education on finance and money she received during her childhood, helped her when she became an adult, and how it influenced the way she deals with clients [08:57] Discussion on why people are still highly stressed about money,  given the amount of information and guidance (on finance and money management) that is available for free [12:12] Lindsay explains what financial psychology is, and how financial therapy can help everyone. [16:05] Lindsay shares her suggestions on how one can deal with their underlying money tendencies and bad habits[18:30] Discussion on the importance of having a guiding principle on “why we make money”.[22:05] How can people differentiate between spending money for their hobby vs prioritizing their money script which is not as encouraging [24:32] Lindsay discusses the initial steps in the discovery of one’s value statement [27:02] Discussion on why couples don’t talk much about money, in their initial relationships [28:21] Discussion on what are the key ingredients, needed for developing a healthy money relationship [32:22] Lindsay expresses her views on what a “successful money relationship” means to her [35:42] Lindsay comments on the topic “The more money we make, happier we are”, and why it is not completely true [36:34] Discussion on the importance of mid level health care providers  and on whether they are being compensated enough [40:17] Lindsay shares her advice to the spouses of health care workers and how to deal with tedious situations [45:15] Lindsay shares her experience of working for charities and what people can do to break down the barriers of financial literacy [48:53] Lindsay talks about her books, blogs and cognitive reframing[52:11] Lindsay recommends books,  that shifted her thinking [54:18] Lindsay shares her ideas on how she will look back at her life when she is 90 years old [54:54]

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