Psychology of Money with George Grombacher Podcast #66

In this podcast episode, George Grombacher, a seasoned finance professional, joins psychiatrists Fara and Grant to explore the psychological dimensions of financial behavior. They discuss how childhood experiences and observed behaviors from adults shape our financial habits, whether we lean towards saving or spending. Grombacher emphasizes the need to confront limiting beliefs about money, drawing parallels between people's discomfort with finances and math. The conversation touches on the impact of trauma on self-care, including financial health, and the importance of designing a life aligned with personal values. Grombacher's journey from a corporate environment to a more creative financial advisory role illustrates the transformative power of addressing one's relationship with money.

Key Takeaways

• Childhood experiences and observed financial habits shape our approach to money and views on success and relationships.

• "Doorknob comments" can reveal deep-seated feelings and attitudes towards money.

• Emotional barriers and negative beliefs about money can hinder financial success.

• Overcoming financial challenges can improve self-confidence and discipline, impacting overall well-being.

• Financial self-care is crucial, especially for those with past traumas

• Money management is about achieving a balance in life, not just in finances

In This Episode:

• [[01:03] Introduction to George Grombacher

• [02:10] George’s  background and philosophy

• [04:37] Negative beliefs about money

• [05:40] George’s  career journey

• [07:40] Connection and collaboration

• [09:21] Financial challenges and seeking help

• [12:39] Common financial mistakes and debt

• [16:14] Designing the life you want

• [17:48] Wealth accumulation and financial mindset

• [21:10] Balancing present enjoyment and future planning

• [22:37] The evolution of money personalities

• [25:47] Intergenerational transmission of trauma

• [27:09] Understanding limiting beliefs

• [28:55] Impact of childhood experiences on financial habits

• [32:20] Psychological aspects of financial decision-making

• [35:03] Positive spillover effect of financial empowerment

• [37:12] Seeking mental health support for financial well-being

• [38:22] Financial success and personal responsibility

Resources and Links

Doorknob Comments

• https://www.doorknobcomments.com/

George Grombacher

• https://www.linkedin.com/in/georgegrombacher/

• https://moneyalignmentacademy.com/about-us/

Dr. Fara White

• https://www.farawhitemd.com/

Dr. Grant Brenner

• https://www.granthbrennermd.com/

• https://www.linkedin.com/in/grant-h-brenner-md-dfapa/

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