Feeling Money

Rachel Kinney and Michael Woodnorth team up to answer listener questions about tying self-worth to your income, how to know how much is enough to support your lifestyle versus how much you should contribute to the greater good, and what to do when you feel burned out. Is going back to school a viable option? How do you make the jump from nonprofit to the corporate world? How much should we be donating? How can we serve from an empty cup?

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What happens when an investment banker/MBA also has a passion for social enterprise, non-profits, and strategic investing? Meet Michael Woodnorth, who helps early-stage mission-driven organizations think strategically about growth and secure the capital to fund their goals. Investors, standard corporations, and non-profits could all stand to learn a little from each other, making the world a better place and creating growth and sustainability for all parties. When we alter our expectations as a society as to who can profit and why, and begin to spend our money with socially responsible organizations, we will see the shift we wish for.

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Studies show that those with ADHD struggle concentrating, staying organized, and battling compulsiveness. When it comes to personal finance and your relationship with money, it’s important to simplify tasks so your brain CAN and will thrive. Rachel has several organization, budget, and routine suggestions plus a book rec: ADD and Your Money, A Guide to Personal Finance for Adults with Attention-Deficit Disorder, by Stephanie Sarkis.

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This week’s interview uncovers the self-prohibiting limiting beliefs instilled unwittingly on children and the work Dr. Barbara Kinney pursued with clients as she too unpacked and overcame limiting either/or thinking. Her perspective is that money is just one of many resources we have at our disposal and others include time, support, attention, education, effort, inspiration, and understanding. She’s found fulfillment in career counseling and coaching others toward sundance thinking and an array of possibilities.

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Money dilemmas are situational and personal and this week’s financial Q&A involves divorce, greed, money mantras, politics, whether donating really matters, eating disorders, restriction, and intuition. Most people seek therapy when behaviors, habits, and coping mechanisms adopted, either as a method of control or to protect ourselves, are no longer working. Create awareness of your money story, explore rewriting the narrative, and reach out for guidance. Submit your questions to www.feelingmoney.com

This week’s interview highlights the emotional and financial burden that often haunts higher education students, how Rev. Dr. Lammers reduced judgment and fear around personal finances with divinity students, and the open discussion about the disparity between the cost of higher education and the resulting salary after receiving such a degree. The systemic lack of financial education results in student loan debt as we seek prestigious careers and the higher education required to get there.

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In today’s Q&A, called “Ask a Financial Therapist”, we dive into class divisions, anger at trust fund friends, pregnancy in a pandemic, and fear of discussing finances with friends. Navigating these conversations with our friends and loved ones can be uncomfortable, but honesty is key. Each of us approaches budgeting and emotions about money differently, and strong feelings about the financial injustice occurring in our country right now are valid. Submit your money questions at www.feelingmoney.com

Aging gracefully is what April calls the advanced planning she guides her clients through in preparing advanced directives and is much more pleasant than the crisis planning that comes to mind with the unexpected passing of a loved one. April encourages people to do what they want with their money, relieving them of the societal pressure of leaving an inheritance. Elder law is not just for the “elderly” and the earlier we get educated about older adults’ legal needs, the more graceful we age.

In this first segment of “Ask a Financial Therapist,” we answer questions centering around common money topics - fear and relationships. Find out why someone might seek financial therapy and begin to understand what types of triggers you might begin to watch out for in your own personal life. Anxious feelings around potential job loss and frustration around memories and money stories are just a couple of the things that we all have in common. Submit your money questions at www.feelingmoney.com

Meet Kate Dore, personal finance freelance writer and CFP candidate who’s passionate about amplifying minority and LGBTQIA+ voices in areas of personal finance and politics. She opens up about her own personal debt, lay-off experiences, and financial mistakes in addition to the good decisions she made and how she’s managed to find freedom from corporate. Kate sees the privilege and wealth gaps all too clearly and is passionate about creating accessible financial help for those who need it most.