The Financial Therapy Podcast - It's Not Just About The Money

In Charles Dickens' "A Tale of Two Cities," he expertly demonstrates that appearances can be deceiving. This theme extends beyond the novel and applies to various aspects of life, including the contrasting approaches to long-term care taken by two seemingly similar families. Both families share numerous similarities in terms of race, political parties, religious beliefs, sexual orientation, family size, age, income, and net worth. At first glance, one might assume that their approaches to long-term care would be similar as well. However, upon closer examination, significant differences emerge. 

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values.. 

How much money do you need to have to be considered rich or wealthy? The best answer is “it depends,” considering your definitions of rich and wealthy. Are they terms defined by one’s net worth, income, or overall wellbeing? Is the context local, national, or global? Depending on the definition, one could qualify as rich in one context and impoverished in another. 

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values.. 

With people living longer, I've noticed that my older clients, who are particularly aware of their declining physical capacities, are increasingly open to the idea of receiving in-home health care, can be expensive, and many seniors may struggle to afford all the in-home care they really need. One potential solution for seniors who require in-home care but can't afford professional caregivers is to compensate a child or another family member for providing the necessary assistance. However, this often comes with a land-mine of money scripts.

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values.. 

What is the Financial Therapy Association?  Rick recently attended the 14th Financial Therapy Conference held in Charlotte, NC.  He talks a little about the history of this relatively new organization and a few of his personal highlights of the many discussions he had with so many in attendance, both legends and first timers.  He gives some insights as to future projects, sessions, and podcasts that are on his mind.

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values.. 

“If my partner would change, we would resolve our conflict about when and where we should retire!” “My spouse doesn’t understand that I work hard for us!” These are common statements uttered in frustration about money and work conflicts. So, how do couples make their conversations constructive and create financial intimacy?  Rick’s guest Deb Kaplan shares how to utilize the tools necessary for a constructive conversation: listen, suspend judgment, become curious, practice compassion, and focus on our own behavior. We also explore Money Scripts, IFS tools and how listeners can interview and dialogue with the part of themself that is engaged in a self-defeating money behavior.

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values.. 

One important thing to take along when you travel abroad is travel insurance. I needed to use mine on three international trips this year, one to London in January, one to Puerto Rico that I didn’t take in February, and one to Budapest in May. These are the only international trips I’ve taken since January 2020. Obviously, my post-pandemic travel is not going well. While traveling back to the U.S. with a 102-degree fever is miserable, the pain is even worse if you don’t have medical coverage.

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values.. 

Personal bankruptcy is not something I’ve addressed in the podcast, which surprises me given the approximately one million people a year who file for bankruptcy in the U.S.  I’ll be the first to admit that listening to a podcast on insolvency or bankruptcy doesn’t relate to most of us, however by one source 25% of us are insolvent.  The topic can be as scintillating as reading about the details of estate planning or planning a funeral.  It’s easy to hit the delete key and move on to happier and more pertinent financial topics.  It’s not very relevant to most of us until it is.

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values.. 

 “I don’t deserve money,” is one of the ten most common money scripts. Holding this belief has very little to do with whether society, friends, or family view you as deserving. Few people would argue that we all deserve the support money can give us to have nutritious food, safe and adequate shelter, and access to safe and reliable transportation. Saying “I don’t deserve money” is saying “I don’t deserve to live.”  Yet millions of people have this money script. 

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values.. 

Rick and his guest, Deb Kaplan, introduce the term Cognitive Biases in this segment. They choose Confirmation Bias and Loss Aversion to explore how couples can resolve conflict by first understanding their own biases. This provides couples an opportunity to be curious about themselves and their partner’s perspective. Curiosity, compassion, and compromise are tools to resolve money disagreements.”

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values.. 

You might think that you lack financial savvy and are doomed to make money mistakes. But even people who are good with money can slip up sometimes. One of the tricky things about poor financial choices is that they often go unnoticed or unacknowledged by the person who makes them. It might take a long time for them to realize the consequences of their actions, if they ever do. But when a bad financial choice crosses the line into something unethical or illegal, the stakes are much higher. It’s not just a money mistake anymore. It’s a life-altering decision that can have serious repercussions.

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values..