Jun 25, 2022

NGPF Podcast: Chantel Chapman on addressing financial trauma

How does trauma impact the money decisions we make? Tune in to the NGPF podcast with Chantel Chapman to find out! 
 
Today on the podcast, Yanely discusses financial trauma with Chantel Chapman, co-founder of The Trauma of Money and founder of What The Finances. Chantel shares her life experiences as a mortgage broker and financial literacy consultant and how they led to her focus on helping people overcome their financial traumas. Chantel discusses the framework she uses in her work and the steps in the process that help people understand their relationship to money and how to improve it. Enjoy! 
 

 

Details:

  • 0:00~1:35 Introduction
  • 1:35~5:55 Career history as a mortgage broker
  • 5:55~10:13 How growing up in poverty inspired her interest in financial education and understanding financial trauma
  • 10:13~13:05 Challenges of being an entrepreneur
  • 13:05~18:15 Example mindfulness exercise to alleviate financial anxiety
  • 18:15~21:14 What is the “trauma of money”?
  • 21:14~22:19 How did the Trauma of Money’s definition influence its framework/program?
  • 22:19~23:13 What traumas impact one’s relationship with money?
  • 23:13~25:42 Societal financial trauma
  • 25:42~27:39 “Laws of Nature”: There are multiple worldviews of what wealth means 
  • 27:39~29:58 How does the trauma of money impact financial literacy? 
  • 29:58~35:58 Why is financial literacy the final layer in Trauma of Money’s framework?
  • 35:58~39:24 Phase one of Trauma of Money’s framework
  • 39:24~41:47 Mindfulness impacting Trauma of Money’s framework
  • 41:47~43:00 Animals helping regulate the nervous system
  • 43:00~45:48 “State of scarcity” and how it impacts financial decisions
  • 45:48~50:00 Shame, how it affects financial decisions, and how the framework address this
  • 50:00~51:57 Conclusion

Resources:

Quote:

  • “We asked this question: like what actually impacts our relationship with money? And this is the model that we teach from. So in our program… we go through these different layers. The first one is generational or intergenerational trauma…The next is relational trauma. So this is trauma that happens in relation to you and someone else within your lifetime. The third layer is societal trauma, and this is a huge one, and this trauma is a result of the dominant culture that we live in.”

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Interested in the psychology of money decisions. Here's another podcast you might enjoy with Daniel Crosby

 

About the Authors

Ren Makino

Ren started interning at NGPF in 2014, and worked part-time through high school and college. With his knowledge growing alongside NGPF, he joined the team to work full-time after graduating from college in 2020. He is also the producer of the NGPF podcast. During his free time, he likes to try out coffees from different roasters across the world.

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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