Bari Tessler is back with us this week where we discuss the importance of professionals in doing their own work and why that is a continuous practice, not a one-and-done event. We also discuss the challenges of certification, the future of the financial therapy profession, one of Rick’s money scripts, and why Bari is the consummate individualist.  

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..

Bari Tessler, a somatic based financial therapist and author of “The Art Of Money” is my guest for this special four-part series. In this first conversation, Bari talks about the evolution of training consumers to creating groups where financial and healing professionals can find a safe space to explore their relationship with money, learn tools to use with clients, and how to support a sustainable practice.  

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..

Investors appear to have a poor grasp of the fee issue, failing to minimize fees even when the benefits are presented in a clear and incontrovertible disclosure. In fact, the mean fee paid by the participants was far enough above the minimum they could have paid that it dramatically reduced long-term gains. Why is this?  It doesn’t seem logical. It’s not about the money. There are three cognitive biases that may explain why consumers elect to pay more in unseen fees than in lower fees, even when both are clearly disclosed.  They are the Loss Aversion, Status Quo Bias, and The Ostrich Bias.

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 was encouraging one of my 20 something friends at my gym to attend a workshop I was giving on investing and financial planning.  I quipped, “I’ll teach you how to be a millionaire.”  “Really?” she responded.  I quickly explained how if someone her age invested $6,000 a year in stocks for the next 7 years and then stopped, there would be a high probability she would have $1 million at age 65.  I didn’t anticipate her next question, “Are you a millionaire?” Listen now for my answer. 

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..

Non-Violent Communication teaches us to learn to hear our own deeper needs and those of others. Through its emphasis on deep listening—to ourselves as well as others—NVC helps us discover the depth of our own compassion. This language reveals the awareness that all human beings are only trying to honor universal values and needs, every minute, every day. Understanding our needs is directly tied to our financial decisions. Through the practice of NVC, we can learn to clarify what we are observing, what emotions we are feeling, what values we want to live by, and what we want to ask of ourselves and others. We will no longer need to use the language of blame, judgment or domination. We can experience the deep pleasure of contributing to each other's wellbeing, and in turn, making better financial decisions. 

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..

A reporter for a financial planning magazine recently asked me when a client loses their job, what emotional support should they expect from the planner? How can the planner best respond to the emotions of the client? What emotions can the planner expect to experience?  That’s something I have never pondered specifically, and I thought it might be interesting to explore. Let's just start from the most obvious what from the client's expectation. What type of emotional support are they expecting in this first conversation with the planner? 

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 are the hurtful financial behaviors driven by our Money Scripts and how can we modify those behaviors into ones that are healthy and supportive?  Most money scripts cannot be changed cognitively or with more information as they often are anchored emotionally.  Learn two ways that you can begin to understand the origin and intention of your, or your client’s, money scripts and how to begin the process of rescripting. 

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..

The concept of Money Scripts was coined by Drs. Ted and Brad Klontz and Rick Kahler in 2005 and first appeared in Conscious Finance – Uncover Your Hidden Money Beliefs and Transform the Role of Money in Your Life, co-authored by Rick Kahler and Kathleen Fox.  They have become common language in describing the underlying thoughts and beliefs a person has about money, that drive financial behaviors.  In this podcast, Rick updates listeners on his latest thinking of how money scripts form that differs from the original teaching. 

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..

In my experience, IFS Informed Financial Therapy is one of the more effective methodologies in helping clients resolve money issues. The power of the IFS protocol was demonstrated in my recorded conversation with Dr. Helen E. Lees, editor of PARTS & SELF, the international voice of the IFS Foundation. Because this was a type of interview with me, the session was not a normal IFS Session and did not follow the standard IFS protocol. It was more of a coaching session for Helen to showcase to the readers of PARTS & SELF what financial therapy in an IFS context looks like or to discuss what it is. However, even without the normal IFS protocol, the session highlights the powerful impact of applying the IFS process to money issues.

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..

Consuming a diet of just one type of news bias can result in long-term damage to your financial and emotional wellbeing.  It can destroy relationships and making evidence based, reasoned, and informed financial decisions.  For example, selling out of the stock market or going all-in solely on one’s political beliefs and bias are almost always a recipe for financial disaster.  I’ve watched in time and time again over my 40 years of advising clients on their financial wellbeing.  Some of the financial consequences I’ve witnessed are heartbreaking.

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..