Recognize the importance of mental health in relation to personal finances. Explore the psychological aspects of money management, financial stress, and building a healthy money mindset. Discover strategies for reducing financial anxiety and improving overall well-being.
In the clamor for financial education, we often hear terms like “budgeting,” “investing,” and “debt management” thrown around. While these are undoubtedly critical aspects of financial literacy, they only address the surface of what it means to be financially savvy. At the core of true financial understanding lies a timeless and often overlooked element: wisdom. … Read more
In the labyrinth of our psyche, childhood experiences cast long shadows that often touch various corners of our adult lives. Among these, financial traumas stand out as particularly influential, shaping our attitudes towards money, spending habits, and even our self-worth. Understanding and addressing these deep-seated issues is not only crucial for financial well-being but also … Read more
In a world driven by ambition, competition, and constant flux, we often overlook a simple yet profound act – offering encouragement. While the importance of technical skills, knowledge, and practicality cannot be denied, the potency of a kind word or a supportive gesture remains unmatched. Drawing from my background in financial psychology and personal experiences, … Read more
Whispered words from grandparents, off-handed comments from parents, the barely audible sighs during bill-paying nights—generations past unknowingly impart their financial lessons in these fleeting moments. While some of these lessons serve as sturdy stepping stones, others might feel more like stumbling blocks. Many of us have inherited a tapestry of generational money beliefs, woven with … Read more
Behavioral economics pulls back the curtain on the irrational ways we often handle money. We’ll unravel the mysteries of human behavior in economic decisions, enriching readers’ understanding of why we often act against our financial best interests. At times perplexing, often downright baffling, the mental pathways we take in making financial choices can be a … Read more
In a world that often seems ruled by numbers, it’s easy to forget the faces behind the figures. Financial hardship is not just an economic issue; it’s a human one.
In the labyrinth of numbers and transactions that make up our financial lives, it’s easy to lose sight of the human side of wealth. But let’s pause, flip the coin, and explore the other side— emotional wealth. It’s not often discussed, yet it plays an underappreciated role in our overall well-being. Emotional wealth is the … Read more
We are often told that money and emotions should never mix. But in reality, our finances and feelings are so intricately linked that trying to separate them is like trying to separate the colours in a sunset. It’s particularly true for single parents who bear the financial responsibilities alone while also shouldering the emotional wellbeing … Read more
The cheer and fervor of the holiday season often leave us with a sobering aftermath: the daunting task of paying off accumulated debt. Recent data indicates that nearly half of all American consumers accumulated debt during the festive period, with an average expenditure nearing a thousand dollars. Not surprisingly, this often results in a surge … Read more
It’s crucial to maintain an effective, supportive and engaging work environment, which includes caring for the mental health of your team members. Here’s how you can take steps to prioritize and encourage mental health in your workplace: The findings of the 2022 SmartDollar Employee Benefits Study reveal the significant impact mental health has on employees’ … Read more
There’s a deceptive simplicity in the roll of the dice, the spin of a wheel, the flip of a card. For John, it all started as harmless fun—a casual night out at the casino with friends. But what began as a distraction soon took over his life, spiraling into a vortex of lost time, missed … Read more
It’s undeniable that making a purchase can give us a momentary rush of happiness. However, for some, this can spiral into a shopping addiction or emotional spending, where the quest for short-lived joy leads to financial turmoil. Here’s a guide to understanding and dealing with these issues. Shopping addiction and emotional spending are often linked. … Read more
Divorce brings significant emotional, legal, and financial challenges. Among these, rebuilding your finances may feel like an uphill battle. While there is no one-size-fits-all answer to the question of how long it takes to recover financially from a divorce, there are important factors to consider on your journey to financial stability. In this blog post, … Read more
When it comes to managing ADHD, especially in the context of finances, our previous article suggested creating a routine as a possible solution. However, the feedback from our readers, many of whom have ADHD, has been enlightening. It is clear that a one-size-fits-all approach, like simply advising to create a routine, doesn’t work for everyone … Read more
Retirement – a milestone many of us look forward to, imagining days filled with leisure, pursuing hobbies, and spending time with loved ones. While retirement can indeed be a joyous phase of life, it also brings with it significant changes, particularly in our financial circumstances and daily routines. Take my client, Tom, as an example. … Read more
When most people think about Attention Deficit Hyperactivity Disorder (ADHD), they think about the commonly known symptoms: hyperactivity, inattention, and impulsivity. But there’s another, often overlooked aspect of ADHD that can have a significant impact on people’s lives—the financial implications. In this blog post, we’ll delve into the hidden financial costs that can accompany ADHD, … Read more