Hi pal,
For years, I believed that earning more money would eliminate a lot of my problems. Of course, making enough does make some problems go away - I was able to save for an emergency, start saving for retirement, and I could spend my money on frivolous things that would make my life joyful. However, When I started to earn more, one thing I wasn’t expecting was that I’d still have irrational anxieties about money. Silly, I know - but now and again, I worry that I’m not doing the right thing, making enough, or that one spending decision will financially ruin my life.
In a universe of uncertainty, money can be a world of comfort. But it isn’t safety. I’ve realized that for a long time, I’ve conflated the two.
This week, I spoke with financial therapist Lindsay Bryan-Podvin about why we have financial anxiety, what amount is healthy, and what tools can help ease our worries.
Your friend in finance,
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1.😕 Overcoming Financial Anxiety (Weird Finance) In this episode of Weird Finance, Paco talks to Lindsay Bryan-Podvin about her journey in becoming a financial therapist, healthy and unhealthy ways of dealing with financial anxiety, the four money personas, and how to know when it’s time to seek financial therapy. This episode also features a segment called Ask Paco Anything. Thank you to our anonymous caller for their question about joint finances.
2. 🔊 How to tap the WGA strike funds and other financial aid during the writers' strike (LA Times)
3. 🎁 A golden age of consumer convenience is passing (Financial Times)
4. 🤓 A bookkeeping thing - How to Catch Up On Your Bookkeeping (HYG Original) How good would you feel if you caught up? Not necessarily saying it would feel great while you caught up, but you could get there. Here's how. 🤓
5. 💲 The nonstop scam economy is costing us more than just money (The Washington Post) Relentless waves of sophisticated phone and online scams are impacting people’s mental health
6. 💭 The Nothingness of Money (More to That) “The claim that “rich people need nothing” is not a literal one, but it points to how the pursuit of money is the unifying struggle of the modern era. We can opt out of the stories of religion or politics, but we cannot opt out of the story of money.”
7. 🍴 I Manage a Restaurant. Tipping Has Never Been More Volatile. (Grub Street) “At least once a night and often more, I am put in a position where I have to speak to a guest who has decided to undertip. This wasn’t happening three years ago. It can be a very awkward thing to risk ruining somebody’s night, but part of my role is to have conversations with those guests to find out what happened. Hopefully, the conversations help, and if they don’t, we could end up losing a return customer, but my feeling is it’s not a huge problem to lose a customer who doesn’t want to hold up their end of the social contract of dining out. As a manager, I don’t receive any part of our restaurant’s tips, but I am always going to be an advocate for my staff.”
8. 💗 ‘Friending Bias’ (New York Times) “There seem to be three main mechanisms by which cross-class friendships can increase a person’s chances of escaping poverty. […] The first is raised ambition: Social familiarity can give people a clearer sense of what’s possible. The second is basic information, such as how to apply to college and for financial aid. The third is networking, such as getting a recommendation for an internship.”
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If you have a question you’d like me to answer on the Weird Finance podcast, you can leave me a voicemail at 833-ASK-PACO. You can also email me your question by replying to this email or emailing us at weirdfinancepod@gmail.com.
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Thanks for being part of the crew and reading this far. Peace. |
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