Description

We're diving deep into the fascinating world of money management today, and the big takeaway is all about recognizing your "money monsters." These clever little critters are those unconscious patterns and fears that shape how we handle our finances—think of them as the gremlins of your budget! Our guest, Doug Lenham, a former Marine turned Benedictine monk and now a successful money manager, shares his unique journey and insights on how our childhood experiences can create these monsters. He uses the Enneagram personality system to help us identify our financial behaviors, whether we're earners, savers, or, dare I say, "blingers!" Plus, we tackle some practical advice for those of us in the sandwich generation juggling kids and aging parents—hint: remember to pay yourself first! So grab your headphones, and let’s get ready to tackle those money monsters together!

Takeaways:

• This podcast episode dives into financial habits, focusing on how to talk about money in a way that feels natural and enjoyable.
• Doug Lenham, a former Marine and monk, shares powerful insights about transforming your relationship with money after facing bankruptcy.
• Understanding your 'money monsters' through the Enneagram helps identify childhood trauma that affects financial behaviors.
• The episode emphasizes the importance of being financially literate and taking responsibility for your own financial future, no one cares more than you!
• For the sandwich generation, it's crucial to set boundaries and prioritize your own financial health while caring for others.
• Teaching kids about money early, like giving allowances, can help them understand saving and long-term growth through smart investing.

💬 Question of the Day: What money traumas have you faced, and how have they influenced your financial decisions? Share your thoughts in the comments!

🔗 Connect with Doug Lynam:

Website: https://www.douglynam.com/

⚠️ DISCLAIMER:

This content is for educational purposes only and is not financial advice. Always consult a licensed financial professional when needed.

#AboutThatWallet #MoneyTrauma #FinancialLiteracy #Enneagram #SelfCare

Episode 306 (bonus)