Amy Irvine (ep 006 Financial Fears) returns to the pod to talk about how we can avoid some of our financial foolishness by understanding how much our emotions are linked to our finances (whether we have it or not), realizing in the past year how we can scale back if we really need to (hello, lockdown), the psychology around wealth (having fun with it/spending 'til it's gone or hoarding it/worried it will all be lost), the urge to splurge after a period of lack, how diets and budgets are similar (and we don't enjoy being on them), the latte factor, how our upbringing plays into how we feel about money, credit cards in college, that 70% of people who win the lottery end up worse off financially, Maslow's Hierarchy of Needs: survival, safety and security, love and belonging, self-esteem and self-actualization and how those all play into how we deal with money, being generous in a wise way when you come into money, how finance is a taught skill and we should be embarrassed to ask for guidance and learn about it, understanding options, rich people's toilet paper, avoiding information, facing the dragon (reading the statements), avoiding the "head in the sand" approach to money, even financial planners have financial planners, rationalizing choices rather than making logical decisions, having a financial planner or accountability buddy to help make better financial decisions, having all the channels, finding the fun in saving money/budgeting/cutting back/increasing your credit score, not using a debit card, credit card points, how credit card usage impacts/improves your credit score, importance of paying credit cards each pay period, diversity of debt, celebrating being debt-free, creating a statement of financial purpose (why do I work?), raising parents, deciding to stay home/be a caregiver or earn/stay in the workforce during your high-earning years, employment gaps and earning less, disability insurance, snowball or avalanche methods of paying off debt, motivation, student loans, teaching children about money, making a plan, feeling that you've let people down, the courage to look at where you're at, take responsibility for it and move forward, what brings you joy, the cost of convenience, making thrifty cool again, finding discounts, and packing your own lunch.

You can find Amy at https://rootedpg.com on Instagram @rootedpg and Twitter @RootedPlanning

Episode recorded on 07/09/21

Episode released on 09/11/21

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Music: Shower Beer by GG Riggs