Podcast Summary: The Stacking Benjamins Show – "Is Your Brain Blocking Your Financial Goals? (with Jessica Morehouse)" SB1636

Release Date: January 27, 2025

In this insightful episode of The Stacking Benjamins Show, hosts Joe Saul-Sehy and OG delve deep into the psychological barriers that hinder financial success with their guest, Jessica Morehouse, host of the More Money podcast and author of the book Everything But Money. Recognized for making financial literacy engaging, this episode unpacks the intricate relationship between our emotions, mindset, and financial behaviors.

1. Introduction of Jessica Morehouse

The episode welcomes Jessica Morehouse, who shares her personal journey and the inspiration behind her book. Jessica emphasizes the importance of understanding the emotional facets of money management, stating:

"When you put a name on your emotion, it gives it power and helps you address underlying issues."
— Jessica Morehouse (10:24)

2. The Link Between Mindset and Financial Behavior

Jessica discusses how financial challenges often stem from deeper psychological issues rather than just numbers and budgets. She highlights that:

"It's not about the dollars and cents; it's about what's going on in your mind and emotions."
— Jessica Morehouse (12:17)

3. Emotional Barriers: Shame, Guilt, and Anxiety

A significant portion of the conversation revolves around emotions like shame, guilt, envy, and despair, and how they affect our financial decisions. Jessica explains:

"Feelings like shame and guilt are not inherently bad; they're signals that can guide positive change."
— Jessica Morehouse (35:28)

4. Identifying and Labeling Emotions

Jessica introduces the concept of labeling emotions related to money as a foundational step toward overcoming financial obstacles. She shares:

"Labeling how you feel about money makes the emotion real and actionable."
— Jessica Morehouse (24:38)

5. Money Origin Stories and Their Impact

Exploring "money origin stories," Jessica illustrates how early experiences shape our financial behaviors. She recounts her own memory:

"At four years old, stealing a blue gumball made me feel ashamed not just of myself, but of my family's image."
— Jessica Morehouse (26:39)

6. Strategies for Overcoming Mental Blocks

Transitioning from identification to action, Jessica outlines strategies to dismantle these psychological barriers:

• Self-Awareness: Understanding personal money narratives.
• Therapy and Counseling: Seeking professional help to unravel deep-seated issues.
• Positive Reinforcement: Moving away from negative self-talk to empowering affirmations.

She advises:

"We need to replace victimization with understanding and seek answers to why we behave the way we do with money."
— Jessica Morehouse (33:09)

7. The Importance of Self-Care in Financial Health

Both hosts and Jessica emphasize the necessity of self-care in achieving financial well-being. Jessica connects physical health with financial success:

"Taking care of yourself enables you to make better financial decisions and fosters a healthier relationship with money."
— Jessica Morehouse (23:44)

8. Gamification for Achieving Financial Goals

The conversation shifts to practical applications, where Jessica discusses gamifying financial goals to enhance motivation and accountability. Joe and Doug contribute by sharing personal anecdotes about setting and achieving small, manageable financial challenges.

"Turning financial habits into games makes the process more engaging and increases the likelihood of success."
— Joe Saul-Sehy (45:15)

9. Conclusion and Key Takeaways

As the episode wraps up, Jessica underscores the essence of her book, Everything But Money, focusing on identifying and overcoming the non-financial barriers to financial freedom. She encourages listeners to:

• Reflect on Emotional Relationships with Money: Understanding feelings and their origins.
• Engage in Community and Support Systems: Building a network that fosters financial growth.
• Adopt Positive Financial Habits: Implementing strategies that align with personal values and emotional well-being.

"Financial freedom isn't just about having more money; it's about freeing yourself from the emotional chains that hold you back."
— Jessica Morehouse (37:28)

Notable Quotes:

• "If you label something, when you give it words, it makes it more real."
  — Jessica Morehouse (24:38)

• "We need positive motivation. It's not about victimizing yourself; it's about finding solutions."
  — Jessica Morehouse (33:33)

• "Gamifying your financial goals can transform daunting tasks into enjoyable challenges."
  — Joe Saul-Sehy (45:15)

Final Thoughts:

This episode is a must-listen for anyone looking to deepen their understanding of the psychological aspects of financial management. Jessica Morehouse provides a compelling narrative that bridges the gap between emotional well-being and financial success, offering actionable insights and strategies to help listeners achieve their financial goals by addressing the root causes of their money-related behaviors.

For more resources and to join the discussion, visit StackingBenjamins.com and engage with the community through their Facebook group, "The Basement."