Replay: Money Talks with Amanda Clayman

Financial Therapy

Amanda Clayman introduces the concept of financial therapy, highlighting its focus on the cognitive, emotional, and behavioral aspects of money management. Unlike traditional financial advisors, she emphasizes guiding individuals through their personal relationship with money rather than offering specific financial advice 1. Amanda's journey into financial therapy was sparked by her own financial struggles, which led her to recognize the need for a more holistic approach to money management 1. She shares, "I got myself into a lot of debt... I couldn't do any of the things that I wanted to do to change my financial life until I really changed the foundation of how I related to and understood money."

   

Addressing Trauma

Amanda discusses the importance of addressing financial trauma, which often manifests as a feeling problem rather than a thinking problem 2. She explains that trauma is stored in the body and can be addressed through therapies like EMDR, which help release the emotional hold of past experiences 2. Amanda notes, "We dismiss the idea that experiencing money as a trauma is a pretty significant injury that we can carry with us for the rest of our lives."

   

Relationships & Anxiety

In relationships, Amanda advises against trying to be right about money, instead encouraging partners to view finances as a tool for compromise 3. She suggests reframing financial discussions to focus on co-giving, where both partners contribute to shared financial goals 3. Amanda highlights, "If we stop saying, like, savings is good and spending is bad... there's tremendous opportunity for us to say, I need to save x, you want to spend y. How can we negotiate with each other?"