64. Managing Financial Regret with Aja Evans
Manage episode 353050538 series 3439383
According to a recent survey conducted by Bankrate dot com, Americans’ biggest financial regret is not saving enough for emergencies. In fact, 20% of respondents gave this answer - even topping the reigning top response related to saving too little for retirement. And when broken down further, older millennials (36 percent) were more than twice as likely than baby boomers (14 percent) to say they regret not having a strong enough emergency fund. And when asked what they intend to do with their money going forward, 26% of respondents said they will save more for emergencies, while another 21% said they will spend less.
Of course, this poll was administered in the shadow of the Covid-19 pandemic and all of the financial disruption that has come along with it. But it got my attention that when asked about financial regrets, the answer had nothing to do with saving for the long term. It was about the here and now.
In this episode, Malcolm sits down with Aja Evans, a Licensed Mental Health Counselor who specializes in financial therapy, to discuss the concept of financial regret, how to recognize it when you feel it, and how to move past it once you do. Aja and Malcolm share some of their own personal stories, and Aja remembers the very moment she realized she wanted to work with people to take control of their emotions around money.
Aja Evans discusses:
- Why it is so difficult for us to talk about money in an open and honest setting with friends and family
- The importance of focusing on your own financial situation rather than comparing yourself to others
- How to go a few layers deep and identify the true reason for the feelings we have about our money
- Some exercises she recommends to clients to help them identify them moments when they feel anxious about money
Connect with Aja Evans:
About the Guest:
Aja Evans is a Licensed Mental Health Counselor who specializes in financial therapy. She likes to say that she is on a mission to get more individuals engaged in living their best life, while attuning to their thoughts, feelings, and behaviors around money. In January 2015, she launched Aja Evans Counseling, a New York-based financial therapy practice where she supports clients to begin working towards a better version of themselves. In addition to her work as a financial therapist, Aja is a speaker, writer, and fintech consultant, focusing on the intersection of mental health and money. She believes that whether you are struggling with anxiety, self-esteem, relationships, or regret, gaining control of your finances will help you live the life you want.
Mentioned in this episode:
Capital Area Tax Consultants - www.capgllc.com
Capital Area Tax Consultants - www.capgllc.com
90 odcinków