S3 E2: The Link Between Self-Awareness and Financial Success

If You’ve Ever Struggled to Change Your Money Habits, This Episode Is For You

As a financial planner and advisor, I’m continually struck by how much my work intersects with that of a clinical psychologist. Which is why I invited Joy Lere, Psy.D. to be a guest on the podcast this month. Joy’s expertise as a clinical psychologist and behavioral finance consultant illuminates why our psychology and money habits are so closely linked–and why developing self-awareness is critical for financial success.

Personal finance isn’t just about facts and figures. It’s also about understanding our emotions and behaviors around money and why we make certain decisions, even when we know it’s not in our best interest. But as Joy says, we are not our past; we always have the ability to change.

I hope this conversation helps you begin to see the parallels between your psychology and money habits–and inspires you to start (or continue) the work of understanding yourself and your values, so you can get more happiness and fulfillment from your money.

Tweetable Quotes

Joy Lere, Psy.D. on psychology and money:

And the thing with money is, either you learn to manage it, or it manages you. Share on X

Episode Highlights

  • [03:05] I ask Joy to share some of the tools she uses with clients to help them overcome behaviors that no longer serve them.
  • [08:06] Joy explains why setting boundaries–or exercising what she calls the “no muscle”–is so important for developing healthy money habits.
  • [10:57] We talk about the dangers of comparison and how it gets in the way of truly understanding ourselves and what we value.
  • [14:07] Joy shares the psychological reason traditional budgeting is so hard for so many people.
  • [23:05] We get into why money is inextricably linked to our overall happiness and wellbeing.
  • [27:25] Joy and I wrap up our conversation by discussing how financial illiteracy often leads to shame and other negative emotions around money.

Links Relevant To This Episode

The Happiness Spreadsheet by Cathy Curtis

Loaded by Sarah Newcomb

Freud and Finance

Here’s The Full Episode



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