Navigating Money and Relationships: Insights from a Licensed Clinical Social Worker
About the Guest(s):
Sheila Nissim is a licensed clinical social worker with extensive experience in psychotherapy. She works with individuals of all ages, helping them navigate various emotional and relational issues. Sheila has a particular interest in the intersection of money and relationships, and she helps clients explore their beliefs, anxieties, and experiences related to money. Through her work, she aims to empower individuals to develop a healthier and more positive relationship with money.
Episode Summary:
In this episode of Money Roots, host Kate Welker is joined by Sheila Nissim, a licensed clinical social worker, to discuss the complex relationship between money and relationships. They delve into the psychological aspects of money and how our upbringing and experiences shape our beliefs and behaviors around finances. The conversation highlights the importance of open communication, understanding each other's perspectives, and finding common ground when it comes to managing money as a couple. Sheila emphasizes the need for patience, compassion, and self-reflection in order to navigate the challenges that arise in money-related discussions.
Key Takeaways:
Money is a loaded topic that can evoke various emotions and anxieties in individuals. Understanding our own money stories and beliefs is crucial for developing a healthier relationship with money.
Each person in a relationship may have different experiences and perspectives when it comes to money. It is important to acknowledge and respect these differences, and engage in open and non-judgmental communication.
Combining finances in a relationship can be a significant step. Couples should have conversations about their expectations, fears, and goals related to money. Starting with small steps and gradually building trust and understanding can help navigate this process.
Autonomy and individual financial independence can coexist with shared finances. Couples can consider designating separate accounts for personal expenses while maintaining joint accounts for shared expenses.
Patience, compassion, and self-reflection are essential in money-related discussions. It is important to create a safe space for open dialogue, take breaks when needed, and approach the conversation with a willingness to understand and compromise.
Notable Quotes:
"Understanding what's so upsetting about money is important. It's not only about the money itself; it symbolizes deeper emotions and needs." - Sheila Nissim
"Having separate accounts doesn't mean hiding money; it can be about autonomy and individual needs within a shared financial framework." - Sheila Nissim
To listen to the full episode and gain valuable insights into navigating money and relationships, tune in to the Money Roots podcast. Stay tuned for more engaging discussions on personal finance and emotional well-being.
This episode is brought to you by Rooted Planning Group. Rooted Planning Group is a fee-only financial planning firm that specializes in working with women in their 30s and 40s who want to take control of their finances and plan for the future. Whether you're just starting out or you're looking to make a big change, Rooted Planning Group can help.
Visit www.rootedpg.com to learn more.