Episode 31: What's Your Financial Identity? Finding Your Financial Self

Our Guest for this Episode:

Visit Tom Shephard's Website

Summary

In this episode of the Better Than Bitter podcast, host Tania Leichliter speaks with financial expert Tom Shepard about the concept of financial identity and how it impacts relationships, particularly during divorce. They explore the idea of financial nature, which refers to the innate predispositions individuals have towards money management and financial decision-making. Tom introduces a system that categorizes people into seven financial natures, helping listeners understand their own financial behaviors and how to navigate financial discussions with partners and co-parents. The conversation emphasizes the importance of recognizing these differences to foster healthier relationships and amicable resolutions during and after divorce.

Takeaways

• Understanding your financial identity is crucial for healthy relationships.
• Financial nature can be innate or learned, impacting how we manage money.
• There are seven financial natures: spender, saver, investor, lever, giver, and earner.
• Recognizing financial differences can help prevent conflicts in relationships.
• Investing in emotional processing can save money in legal fees during divorce.
• Communication about financial values is essential for co-parenting success.
• Using assessments can help individuals understand their financial behaviors better.
• Financial discussions should be approached with empathy and openness.
• Understanding motivations behind financial decisions can improve relationship dynamics.
• It takes a community to support individuals in their financial journeys.

Titles

Discovering Your Financial Identity

The Role of Financial Nature in Relationships

Sound Bites

"What's your financial identity?"

"Divorce doesn't have to be bitter."

"It's about how we value money."

Chapters

00:00 Understanding Financial Identity

03:45 The Genetic Nature of Money

06:14 Exploring Financial Patterns

10:01 The Seven Financial Natures

13:23 Leveraging Money for Better Relationships

15:54 Investing in Emotional Health During Divorce

18:43 The Importance of Understanding Financial Differences

24:44 Cultural Perspectives on Money

26:38 Case Study: Navigating Financial Disagreements

31:00 Understanding Motivations in Relationships

33:53 Navigating Differences in Relationship Dynamics

37:38 The Importance of Intent in Financial Decisions

41:42 Pursuing Happiness Through Different Lenses

45:17 The Role of Open-Mindedness in Relationships

52:22 Key Takeaways for Building Healthy Relationships

57:54 Introduction to Amicable Divorce

59:23 Resources for Support and Growth

Keywords

financial identity, financial nature, divorce, money management, financial relationships, co-parenting, financial assessment, financial planning, emotional divorce, amicable divorce

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