Money Checkup Podcast

Episode 3: The Psychology of Money with Shanta Kanukollu

 

Whether you like it or not, there is an emotional component to how you approach money. In today’s episode Shanta Kanukollu and I discuss why we behave the way we do with our money and how that impacts the financial decisions we make. From the “money script” we’ve developed to the culture we were raised in, each aspect can impact your money decisions.

Shanta Kanukollu, Ph.D is a Licensed Clinical Psychologist in downtown Chicago. She enjoys working with individuals from various cultural backgrounds. Her professional interests include working with clients who struggle with issues related to depression, anxiety, trauma, parenting concerns, tough life transitions, family dynamics and intergenerational conflict. Shanta graduated from University of Michigan with her doctorate in Clinical Psychology and Women’s Studies.

What We Will Cover

  • A few reasons money can be an emotional trigger
  • How “the money script” affects the way we view money
  • Partners often see the same financial activity in completely different lights
  • The importance of the money conversations between partners
  • The amount of money the happiest people make each year
  • The dangers of trying to continue to “keep up with the Joneses”
  • How to stay focused on your financial goals
  • Start exploring your financial goals through George Kinder’s 3 Questions
  • What role culture plays in money and financial decisions
  • How to intersect cultural “money roles” with your significant other
  • Jean Chatzky’s advice when talking about money (Talking Money)
  • Avenues to explore if you and your partner are struggling to have the money conversations
  • How to reduce the anxiety and stress around money
  • The money conversation takes work and persistency

A Financial Goal in the Works

  • Short-term goal is to upgrade her kitchen
  • Long-term goal is to grow the practice while still enjoying time with family

One Piece of Financial Advice

  • Set up a money date, have the uncomfortable conversations and if it’s still not working, get a third party professional involved.

Getting Connected With Shanta

Click here if you want to read the transcript instead!

The Psychology of Money with Shanta Kanukollu

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