Financial Self Care

Module 4: Transforming relationships and experiences with money

This week we talk about Financial Self Care. We know mental health challenges and suicidality are often linked to acute Financial Stressors. We also know from the regular updates we are getting from mental health authorities that they are worried about Australians' mental health as we reopen Australia for business. So it is important we become aware of financial stressors in our lives as it is an important part of Self Care.
Whilst many of us get expert financial advice about money matters few of us learn about our emotions and behaviours around money. For example, did you know spending on experiences and others, rather than ourselves increases our levels of happiness and wellbeing?

Studies from the field of behavioural economics have also exposed the irrationality of some of our financial decision making such as 'retail therapy' when we are feeling blue.. Why do we buy because we are sad for example?

These same studies also highlight how we can manage these inherent biases. Our mental accounting does not work logically like the cells in a spreadsheet.

Enjoy This week's episode.

Click the link below to watch the previous video, Module 3: Social Self Care