Three Ways You Can Create a Healthy Relationship With Money

Understanding the why of your decisions, balancing needs vs wishes and looking at money as a resource rather than something to be accumulated can reshape your money beliefs.

A young couple at a table look at paperwork and a calculator
(Image credit: Getty Images)

Buying a house, planning a big vacation, picking your retirement date … Most of us don't take these major financial decisions lightly. We build our lives one financial choice at a time, carefully considering the dollars and cents.

But most people don't realize that the bottom line isn't the end of the story. Humans are emotional creatures, and even the most "rational" of us can seem to act "irrationally" when it comes to money decisions. That's where understanding financial psychology comes in. Recognizing the psychological factors that influence our financial choices helps us make more considered decisions, especially during stressful times.

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Cohen Taylor, LMFT
Behavioral Wealth Specialist, Wealth Enhancement Group

As a Behavioral Wealth Specialist, Cohen helps clients address the qualitative aspects of wealth management by providing a framework for understanding the emotional and behavioral components of their financial decisions. Her professional acumen as a Licensed Marriage and Family Therapist paired with her experience as a coach allows Cohen to be an effective thought partner as clients navigate the interpersonal and intrapersonal dynamics of wealth and life transitions.