In this episode, I talk with Rachel Duncan, Certified Financial Therapist™, trauma-informed money practitioner, and founder of the Money Healing Club, to explore the psychology behind emotional spending, impulse buying, and money avoidance. We talk about why rigid budgets tend to backfire, how the stages of change apply to money, and why setbacks are part of the process. Rachel also shares how she thinks about spending in a world where we're marketed to constantly and where housing, food, and interest rates rise every year. Rachel also shares practical strategies for building a healthier relationship with money, from tracking spending without judgment to creating friction around impulse purchases, preparing for unexpected expenses, and breaking the cycle of credit card debt. We also get into why financial therapy belongs in more of our training and how to check your own biases around income, spending, debt, and savings. We chat about: The difference between emotional spending, problematic spending, and compulsive spendingWhy restrictive budgets and willpower alone often don't create lasting changeHow financial trauma, shame, and avoidance influence our money habitsRecognizing when spending is becoming a problemThe impact of consumer culture, rising living costs, and financial stressPractical strategies to reduce impulse spending and build financial awarenessThe importance of addressing money in the therapy room Resources mentioned: See the expanded show notes here for all resources mentioned Connect with us! Social Work to Wealth Newsletter — a money & career newsletter for social workersFind Social Work to Wealth on: TikTok, Instagram, & YouTube. Disclaimer: The information presented in this podcast & on any affiliated platforms is for educational, informational, & entertainment purposes only and should not be construed as legal, financial, or professional advice. Consuming this content does not create an attorney-client relationship. If you need legal advice pertaining to your particular situation, consult one-on-one with an attorney.
