Mike asked, “Do you feel comfortable talking about money? Was it something your family discussed while growing up, or was it considered inappropriate?” He mentioned that early life experiences with money could shape one’s future. They were joined by licensed psychotherapist Joyce Marter, author of The Financial Mindset Fix: A Mental Fitness Program for an Abundant Life. Joyce explained that not discussing money increases shame and silence. She pointed out that people spend 25% of their time worrying about money. When it’s not discussed, individuals suffer in silence, dealing with shame, stigma, and the fear of being judged, whether for having too little or too much. Joyce compared it to mental health issues—when we talk about them, we feel better and receive support, normalization, and information that helps us move forward.
The discussion continued with the idea that talking about money is crucial for mental well-being. Joyce shared a list of ways to improve financial mindset, starting with the importance of separating self-worth from money. She emphasized that self-worth is internal, tied to the heart, soul, and inner self, and that everyone is worthy of a good life. When self-worth is attached to appearance, money, or debt, it can lead to poor self-esteem. Joyce highlighted that love is the true currency of life, and money should be viewed for what it is.
Next, they discussed the danger of comparing oneself to others financially. Joyce warned against comparing one’s “insides” to others’ “outsides,” as it often leads to feelings of inadequacy. She noted that everyone has issues with money, and what we see on the surface may not reflect reality. Joyce stressed the importance of focusing on oneself and taking responsibility for one’s financial life instead of exhausting oneself by comparing to others.
The conversation then moved to the importance of talking openly and honestly about money. Joyce also encouraged improving financial literacy and empowerment. Financial literacy involves understanding financial statements, budgeting, saving, investing, and debt management. She suggested taking online courses, listening to money podcasts like “Stacking Benjamins,” reading financial books, and utilizing resources like the Consumer Credit Counseling Service, which offers free financial literacy courses. Joyce emphasized that discussing finances in partnerships and families is crucial, as avoiding these conversations can lead to marital and relationship problems, even divorce.
Joyce then mentioned her upcoming seminars and how people can sign up for them. She shared that she has a new digital e-course available on her website, joycemarter.com. The course includes five modules that accompany her book, which is available on Amazon and Audible. Joyce expressed her desire to help people improve both their mental and financial fitness.
Sophia thanked Joyce for the conversation, noting that it was always a pleasure to talk to her. They then transitioned to Barista, with Bryce agreeing that everyone could use a little help when it comes to financial mindset.
