But For Real Episode 23: Bougie, Broke, and on a Budget - The Psychology of Money (Part 1)

Podcast
Written By Colleen Conklin

Today’s episode is allllll about MONEY HUNNY – how we are influenced to think about the construct of money, financial wellbeing, and balancing all of this in the modern landscape of capitalism and consumerism.

This episode covers:

Tea & Crumpets

Recently, with the oppressive Nashville heat, Emerson has been loving stretching in the pool. The water leads to lighter impact on joints, and stretching is an important but often forgot self-care practice.

Valerie is currently loving Courtney Carver of Be More With Less. She’s in an era of figuring out how she can do all the things she wants to do while also simplifying and doing less.

Step Into My Office: Money Boundaries with Friends

A listener wrote in about how she adores her friends, however, it feels like there’s always another expensive group dinner, bougie birthday brunch, or multi day bachelorette weekend. When she tries to offer lower cost suggestions, either gets ignored or it’s met with “you deserve to treat yourself!”. Emerson and Valerie give some communication tips and offer ideas for prioritizing what events to join and which ones to consider skipping on.

The DSM: The Psychology of Money (Part 1)

Emerson starts the segment with diving into Dr. Brad Klontz’s Money Script Inventory, which consists of four scripts that determine how individuals carry beliefs about money. She also explores family of origin dynamics and emotional money legacies, such as hiding packages or wedding/graduation/milestone money that comes not as a gift but with conditions.

Then, Valerie shares a bit about the scarcity vs. abundance mindset. Having a scarcity mindset is when you consistently feel there is not enough of a certain resource, such as money, time, romantic relationships, etc. Many factors can contribute to developing this including, underearning, intergenerational poverty, and other financial trauma.

Emerson explores the impact of capitalism, self-worth, and hustle culture––especially how financial worth gets tied up with personal worth. Valerie looks at this further, exploring financial trauma and nervous system responses.

Emerson closes out the segment with some practical tips including:

  • Redefining what wealth means to you

  • Engaging in grounding practices before doing the monthly budget instead of acting in defensiveness or shame

  • Practicing some values clarification around budget setting.

Now That’s What I Call…OKAAAAY

Val’s pick for the week was Look At Me Now by Karmin (now Qveen Herby aka Amy Noonan). It was a viral early YouTube hit, and it’s still a great summer listen!

Emerson’s pick for the week was 7 rings by Ariana Grande. This track is pure college nostalgia for Em, always blasting it in her 2004 Volkswagen Beetle.

Wait…What? Delulu is the solulu

This term refers to how sometimes being a little “delusional” can be the “solution” to your problems. However, especially with money, this can be a slippery slope…you’ll have to listen to the episode to hear Emerson and Valerie’s thoughts!

Fire Dumpster Phoenix

Val’s find for this week is The Butt Family, H-E-B, and the H.E. Butt Foundation announcing a $5 million donation for Texas flood recovery efforts.

Emerson’s find for this week is about a crow who visits his Danish chosen family often after they rehabilitated him. 🥹

If you want to learn more about any (or all) of these topics, click the podcast player at the top of this post or the YouTube video down below to listen to the full episode and dive in with us.

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DISCLAIMER: But For Real Podcast is not a substitute for individualized mental health treatment or healthcare. This podcast is solely for entertainment and educational purposes. If you are in crisis, please utilize crisis support services, such as the Crisis Text Line (Text START to 741741 in the US) or the 988 Suicide & Crisis Lifeline: (Call 988 in the US), or visit www.findahelpline.com for international resources.

Colleen Conklin
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