I've conducted extensive research on the emotional aspects of money. As the leading National Certified Counselor specializing in Financial Therapy for wealthy professionals, with over 20 years of experience in the financial services and mental health industries, I’ve learned a thing or two about Money Emotions that I'd like to share with you.
Among the various Money Emotions that affect our clients, Lonely-Based Emotions stand out as particularly impactful and often underestimated. First, I’ll recap a little about the four common types of money emotions. Then, I'll focus on Lonely-Based Emotions and how they can hinder your clients' wealth-building plan or, with the right approach, aid them in building a lasting legacy.
In the last 4-blog post we’ve been building awareness around financial emotions, we have previously discussed Fear-Based, Lack-Based, and Lust-Based Emotions. But the emotions that I see most when working with wealthy clients are Lonely-Based...
What if I told you that emotional health and financial health are not only important but are highly intertwined? Yes, our emotions and finances are each highly affected by each other— especially as business owners.
Emotional spending is a phenomenon that can affect anyone. People from all backgrounds can experience the impact of emotional spending; however, the stressors that may cause emotional spending and financial distress are magnified with business owners who are striving to show up authentically and pour the best of themselves into their craft.
What is emotional spending? It is when one spends money on extra expenses as a response to intense emotions. These emotions can range from glee to depression to anxiety and even grief. There is no one way in which it manifests itself. Here are three examples of emotional spending: