Joney Talks!

In today’s episode, we will speak to my friend Derek from Money Health Solutions.

He is a financial therapist helping his clients to identify their financial beliefs (also called “money scripts”) and to improve their relationship with money. You might probably wonder what a financial therapist is and what those money scripts are about.

This was new to me too, I had actually never heard of financial therapists before speaking to Derek. But, if you are a regular listener to the show, you will remember that getting the right money mindset is an essential first step to get your finances in order. Something that can for example stand in the way of getting the right mindset could be the negative financial beliefs you have developed throughout childhood: The stock markets are dangerous, more money equals happiness so I should work hard, talking about money is taboo, rich people are bad, money is the root of all evil,…

Derek will explain what his profession consists of and then we will discuss more in detail how we can identify our own money behaviors (negative or positive)  and how we can start rewriting our scripts and improving our relationship with money.

This episode is absolutely solid! Derek comes with a wide breadth of knowledge, numerous examples, and he really demonstrates clearly how money and emotions are intertwined and how this affects our behaviors! It really makes me happy to be able to deliver this interview.

Listen here:

…or listen on Apple Podcasts

This episode is for you if managing money makes you uncomfortable or if you nurture negative feelings towards your finances and are ready to change those feelings to improve your relationship with money.

Key Takeaways:

• A financial therapist combines both the emotional behavioral side of money and financial planning.
  • Exterior finance: The maths, the interest rates, the strategy,…anything, all the info you can find on the internet.
  • Interior finance: That is about you, how do you behave with money? What insecurities come up?
• Interior finance: There is an infinite number of money scripts: More money will make my life better, money should be saved and not spent,… In short, a money script is an unconscious rule that you follow.
• How to identify your money script? Journal about it: What was your first memory of money? What emotions come up? Going through this exercise will already help you 80% on the way.
• How do you change the money script? One question is to ask yourself: Is this true in all cases? If it does not work in every situation, it does not become a rule anymore.
• Increase awareness around your money scripts and adjust your money script to your plan.

Who is Derek?

Derek is a financial therapist and started Money Health Solutions, a financial therapy firm helping clients improve their relationship with money, live intentionally, and increase their financial health. He writes about the psychology of money on the Money Health Newsletter using simple drawings. His mission is to simplify money matters so you can make smart decisions with your money. You can learn more at www.MoneyHealthSolutions.com/joneytalks.

RESOURCES 

• Derek’s website, Free stuff and social media: Money Health Solutions
• Book recommendations: Thinking Fast and Slow
• My interview with a Money coach: Discovering my own money story – An honest interview with a Money coach
• Best purchase under 100 dollar: Badminton set. kept active and outside during the pandemic.

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Disclosure: This post may contain affiliate links. That means I may make a small commission (at no cost to you) if you make a purchase. This will help to support Joney Talks!