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Financial Therapy for Lawyers and Law Students with Erica Wasserman
In this episode of the Wealthy Lawyer $quad Podcast, host Lauren Klein welcomes Erica Wasserman, a certified financial therapist, to discuss the vital intersection of financial wellness and emotional well-being. Erica shares her unique insights and practical tips on how lawyers and law students can transform their relationship with money, manage financial stress, and achieve financial empowerment. Dive into this engaging conversation to learn how to navigate the financial challenges in the legal profession with confidence and clarity.
Show Notes:
[00:00:00 – 00:02:30] Lauren introduces Erica Wasserman, Finance Therapist.
[00:02:31 – 00:05:00] Erica explains what a financial therapist does.
Discussion on the emotional versus logical aspects of financial decisions.
[00:05:01 – 00:08:00] Erica shares her personal journey and professional background. Highlights of her corporate career and international experiences.
[00:08:01 – 00:10:30] The impact of Erica’s father’s passing on her financial journey. Erica’s realization of the importance of having a relationship with money.
[00:10:31 – 00:13:00] Transition to becoming a financial therapist and joining the Financial Therapy Association. The significance of talking about money and breaking financial taboos.
[00:13:01 – 00:15:30] How different backgrounds, religion, and experiences shape our financial views. The connection between financial stress and physical health.
[00:15:31 – 00:18:00] Common physical manifestations of financial stress.
Impact of sleepless nights and productivity on finances.
[00:18:01 – 00:21:00] Discussion on student loan debt and its emotional impact on law students and new lawyers. Importance of having a plan to manage and repay student loans.
[00:21:01 – 00:24:00] Erica introduces the concept of a “yes plan” for managing finances. Creating a balanced approach to paying off debt while meeting other financial goals.
[00:24:01 – 00:26:30] The role of advisors in financial planning.
Importance of seeking professional financial advice early in your career.
[00:26:31 – 00:29:00] Challenges lawyers face with billing, retainers, and client payments. Strategies for negotiating fees and setting financial boundaries with clients.
[00:29:01 – 00:31:30] Normalizing conversations about money.
Tips for practicing financial conversations and negotiations.
[00:31:31 – 00:34:00] Difference between being rich and being wealthy.
Value of personal relationships with money and how it impacts life choices.
[00:34:01 – 00:37:00] The significance of having a supportive network for financial decisions. The value of diverse perspectives in financial planning.
[00:37:01 – 00:39:30] Final thoughts on the importance of financial therapy and maintaining a healthy relationship with money. Erica’s contact information and details about her financial therapy services and products.
[00:39:31 – 00:42:40] Lauren wraps up the episode, encouraging listeners to apply the insights shared.
Connect with Lauren:
Learn more about Lauren at: https://www.laurenalexisklein.com/
Follow Lauren on Instagram and YouTube: @lawyerlaurenklein
Subscribe to the Wealthy Lawyer $quad Podcast: podcast.laurenalexisklein.com
Learn more about Erica Wasserman:
Website: https://yourfinancialtherapist.com/
LinkedIn: https://www.linkedin.com/company/your-financial-therapist/
Instagram: https://www.instagram.com/yourfinancialtherapist/
Purchase your “Let’s Talk Finances Cards” on Amazon: https://www.amazon.com/Relationship-Conversation-Talking-Point-Cards/dp/B0CZM89CZD
Thank you for joining us on this episode of the Wealthy Lawyer $quad Podcast!
We hope Erica Wasserman’s insights into financial therapy and emotional well-being provide valuable guidance for your financial journey. If you enjoyed this episode, please comment, subscribe, and share it with fellow law students and new lawyers.
We look forward to having you back for Season 2, Episode 5, where we continue to bring you inspiring stories and practical advice to help you thrive in your legal career.
View all episodes
By Lauren Alexis KleinIn this episode of the Wealthy Lawyer $quad Podcast, host Lauren Klein welcomes Erica Wasserman, a certified financial therapist, to discuss the vital intersection of financial wellness and emotional well-being. Erica shares her unique insights and practical tips on how lawyers and law students can transform their relationship with money, manage financial stress, and achieve financial empowerment. Dive into this engaging conversation to learn how to navigate the financial challenges in the legal profession with confidence and clarity.
Show Notes:
[00:00:00 – 00:02:30] Lauren introduces Erica Wasserman, Finance Therapist.
[00:02:31 – 00:05:00] Erica explains what a financial therapist does.
Discussion on the emotional versus logical aspects of financial decisions.
[00:05:01 – 00:08:00] Erica shares her personal journey and professional background. Highlights of her corporate career and international experiences.
[00:08:01 – 00:10:30] The impact of Erica’s father’s passing on her financial journey. Erica’s realization of the importance of having a relationship with money.
[00:10:31 – 00:13:00] Transition to becoming a financial therapist and joining the Financial Therapy Association. The significance of talking about money and breaking financial taboos.
[00:13:01 – 00:15:30] How different backgrounds, religion, and experiences shape our financial views. The connection between financial stress and physical health.
[00:15:31 – 00:18:00] Common physical manifestations of financial stress.
Impact of sleepless nights and productivity on finances.
[00:18:01 – 00:21:00] Discussion on student loan debt and its emotional impact on law students and new lawyers. Importance of having a plan to manage and repay student loans.
[00:21:01 – 00:24:00] Erica introduces the concept of a “yes plan” for managing finances. Creating a balanced approach to paying off debt while meeting other financial goals.
[00:24:01 – 00:26:30] The role of advisors in financial planning.
Importance of seeking professional financial advice early in your career.
[00:26:31 – 00:29:00] Challenges lawyers face with billing, retainers, and client payments. Strategies for negotiating fees and setting financial boundaries with clients.
[00:29:01 – 00:31:30] Normalizing conversations about money.
Tips for practicing financial conversations and negotiations.
[00:31:31 – 00:34:00] Difference between being rich and being wealthy.
Value of personal relationships with money and how it impacts life choices.
[00:34:01 – 00:37:00] The significance of having a supportive network for financial decisions. The value of diverse perspectives in financial planning.
[00:37:01 – 00:39:30] Final thoughts on the importance of financial therapy and maintaining a healthy relationship with money. Erica’s contact information and details about her financial therapy services and products.
[00:39:31 – 00:42:40] Lauren wraps up the episode, encouraging listeners to apply the insights shared.
Connect with Lauren:
Learn more about Lauren at: https://www.laurenalexisklein.com/
Follow Lauren on Instagram and YouTube: @lawyerlaurenklein
Subscribe to the Wealthy Lawyer $quad Podcast: podcast.laurenalexisklein.com
Learn more about Erica Wasserman:
Website: https://yourfinancialtherapist.com/
LinkedIn: https://www.linkedin.com/company/your-financial-therapist/
Instagram: https://www.instagram.com/yourfinancialtherapist/
Purchase your “Let’s Talk Finances Cards” on Amazon: https://www.amazon.com/Relationship-Conversation-Talking-Point-Cards/dp/B0CZM89CZD
Thank you for joining us on this episode of the Wealthy Lawyer $quad Podcast!
We hope Erica Wasserman’s insights into financial therapy and emotional well-being provide valuable guidance for your financial journey. If you enjoyed this episode, please comment, subscribe, and share it with fellow law students and new lawyers.
We look forward to having you back for Season 2, Episode 5, where we continue to bring you inspiring stories and practical advice to help you thrive in your legal career.