Is your relationship with money affecting your personal and business life?
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SPECIAL OFFERS
COVID-19 TUNE-UP
50 MIN SESSION INCLUDES:
- Bringing awareness about your unique relationship with money
- Replacing unhealthy or unproductive habits of patterns with positive and proactive actions that support financial goals
- Providing coping skills when emotions become unmanageable
COVID-19 COMPLETE
4 SESSIONS INCLUDE:
- COVID-TUNE UP session plus...
- Better understand your spending habits and triggers
- Review or Prepare a Budget
- Gain skills to make informed short- and long-term financial decisions that result in optimal health, productivity, and a solid foundation for every stage in life.
Upcoming Workshops
Testimonial from prior clients
"I have just participated in a really helpful and insightful two part workshop on finance and emotions by two American colleagues: a leadership consultant and a financial therapist. I am a hard ass in terms of learning and it was amazing.”
Dr. Karen E. (Phd in Education, UK)
“I learned something about myself that I hadn’t realized before… The workshop helped me put aside a bad spending habit and embark on a good one - saving for an emergency fund”
Jenny Woo (NYC)
"Wanted to let you know I think about you more than you will ever know. Woman what have you DONE TO ME, my emotions with money are showing up everywhere and I feel in control!!!!! Thank you again!"
Sophie (London)
Case Study
Meet Tiffany
Tiffany has recently signed a two year contract with a prestigious network to host a daily show focused on elite market traders. She spends her day talking about money, yet when it comes to her own she is unsure how to set herself up for success and therefore until recently turned a blind eye to it as there was always “cash in the account”. Tiffany met David later in life and they have always kept their finances separate. While this has worked out nicely before kids, she is now feeling the stress of pivoting her finances and not having a partner to do it with. Tiffany is working with Your Financial Therapist to have support and coaching to transform her personal relationship with money while gaining skills on how to communicate with her life-partner on money.
Step 1: Identify Drivers for Financial Therapy?
Providing For Family
When living in NYC getting into the right preschool is a concern. Starting at 2 years old, paying $40,000 for preschool plus a nanny.
- How to reallocate funds from pre-children days
- Which partner should pay this expense?
- Does the child need to start at 2?
- Is the Nanny still needed?
- What are you willing to change to achieve this?
- Can you afford preschool, even if you want it?
Communicating with her partner
Money is a topic they steer clear of to avoid conflict. Each manages their own finances which worked out well before kids, but now is putting a strain on their relationship.
- What is their total household income?
- Are each paying their “fair share” of children expenses?
- Is each parent putting away the monthly college funds they agreed to?
- How will the partner’s poor credit affect future large purchases?
Lifestyle Perception
Living in NYC with two successful careers, her perception is that they should be living the high life of fancy dinners, unlimited ubers, summers in the Hamptons, spa and golf days with nannies.
- Will going out less, reduce their social network?
- How to address feelings of FOMO?
- What if we keep up a lifestyle we can’t afford, but enjoy - will we end up in debt?
Step 2: Identify Actions to Reduce Stress and Build Goals
Providing For Family
- Tiffany to review current budget
- 50% for needs, 30% for wants, 20% savings
- Identify what she can afford for childcare
- Assess split of expenses with partner
- Investigate if you start at 3, what the downside?
- Research a solution that limits the nanny hours (does the school have before/aftercare?)
Communicating with her partner
- Set up a meeting (time, place) ahead of time to discuss finances with a clear goal for the meeting.
- Create a code word for when things get overwhelming in the meeting.
- Identify what is working well
- Identify where each of you can use more support
- Select 3 tasks to work on for each of you before the next meeting.
- Set a time, place for the next meeting
Lifestyle Perception
- List what is important to you (deal breakers - gym membership? Eating out once a week?)
- List what doesn’t bother you (flying commercial? Taking the subway?)
- To reduce the stress of FOMO, set a financial goal for your family for a vacation or treat so you know each time you are “going without” it has a bigger reason.
Step 3: Set Goals Based Recommendation
- Establish an updated budget jointly and separately
- Live on the updated budget that includes the increase of spend for the kids
- Communicate once a month with a trusted partner (spouse or Financial Therapist) on a check on expense and emotions.
- Identify areas and actions to increase credit scores
- Share annual college saving accounts statements
- Create a family financial goal such as a downpayment for a house and track it.
Results:
Focus on the family shifted the financial spend and goals for Tiffany. After four sessions Tiffany was able to clearly assess her current situation, release the anxiety of “not having enough in the bank account” by taking specific actions. Tiffany has an updated budget, identified new goals including preschool (starting at 3), a full-time nanny, and shared kid expenses. Tiffany and David started setting up quarterly check-in meetings to ensure they were both working towards the same family goals by doing so has also led to higher credit scores. The FOMO of luxury dinners and travel didn’t emotionally hurt as much now that she set up a “down payment bank account” for the new home they wanted to have by 2022.
DISCLAIMER: The information provided here is intended to be educational and should not be considered or construed as legal, accounting (tax), or financial planning advice. The strategies described may not be suitable for all individuals. Examples are provided for illustrative purposes only, and no representation is made that a person acting on these examples will achieve the results shown.
- Career woman
- Based in NYC
- 2 kids, 1 husband