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When financial advisors meet with clients, it's easy to focus solely on the numbers and neglect the feelings they elicit.
It's easy to focus on dollars at the expense of emotions.
But every single client you work with has a relationship with money that extends beyond data, numbers and dollar signs.
It's easy to overlook these things when talking about money.
But, it becomes evident when you're dealing with the retiree who simply won't spend their money despite having more than they could ever need.
Or the client who simply can't follow your advice no matter how many times you've shown them exactly what to do.
Or the couple who can never seem to get on the same page with their finances after years and years of trying to help them.
They need help blending the financial and emotional components of money.
But most of the work on how to do this resides in the field of financial therapy.
Fortunately, Bari Tessler is a highly-regarded financial therapist.
And, she's developed a three-step framework to help clients transform their relationship with money.
In this episode, we discuss:
- How to better approach your finances using a "Money Date"
- What she learned from hyperventilating at the car dealership
- 3 Levels of "Money Maps" that she uses instead of budgeting
- The power of renaming cash flow categories in alignment with values
- How understanding your body improves your relationship with money
The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.
Related: 3 Proven Techniques to Enhance Your Questions and Elevate Your Conversations