Episode #29
20/20 Money Episode 29 – The Emotional Connection to Cash
May 27, 2019
In today’s episode, I share three different events that have transpired over the last couple of weeks that have gotten me to think about the emotional connection we have to cash, specifically cash that is on hand in an “emergency fund.” I share two personal stories that have brought this to light over the past couple of weeks along with an example from a (not named, of course) client conversation.
I then talk about the two psychological biases that cause us to have the emotional connection to cash and discuss examples of them and how they play a role not only in our relationship to cash, but most everything in life. I then wrap up the conversation with different ways you can internalize and work past the initial fear and pain of parting ways with cash.
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