In this episode, we explore a topic that often feels difficult: money and trauma.
Our guest,
, a specialist in trauma-sensitive financial resilience and well-being, offers her perspective on how upbringing, culture, and society shape our relationship with money.Whether you're a freelancer, small business owner, or anyone who's felt the emotional strain of money, this conversation will be insightful.
We discuss the connection between money, mental health, and trauma and reveal why many, especially from underrepresented groups, find it hard to address financial struggles.
Jaskiran shares how her experiences as a woman of colour and a former fintech founder shaped her understanding of financial resilience.
We also explore the pressure to 'keep up appearances', how early experiences with money affect adult financial habits, and what practical steps we can take to build healthier financial relationships.
Whether you're keen to understand money habits and the emotional toll of startup culture or want tips on discussing finances more easily, this episode offers valuable guidance.
Finance Therapy Circles – Join Jaskiran’s free monthly virtual event to explore your relationship with money in a safe, supportive environment. More here.
Timeline Summary:
[00:00] – Emily introduces the next three-month cohort to help community builders develop their audience and management skills.
[00:29] – Bernie opens the conversation, outlining the episode’s focus on money and trauma, setting up an insightful discussion with Jaskiran Manga.
[01:36] – Jaskiran describes her work as a trauma-sensitive financial resilience expert and explains how identity and life experiences shape economic behaviour.
[02:46] – Jaskiran explains how our money habits form by age seven, setting the tone for the discussion.
[05:37] – The concept of "money scripts" is introduced, explaining how they influence spending habits and career choices.
[12:02] – Jaskiran shares her experience as a fintech founder and the difficulties marginalised communities face in accessing venture capital.
[17:29] – Bernie and Jaskiran discuss the advantages of bootstrapping and why it may be a more sustainable option for some entrepreneurs.
[21:41] – The emotional ties to money are examined, with Jaskiran offering freelancers and small business owners advice on how to address them.
[34:40] – The discussion critiques the link between freelancing, financial pressure, and the ongoing pursuit of stability.
[37:51] – Jaskiran highlights the importance of talking openly about money and mental health, stressing that those who discuss it often cope better.
Detailed Episode Breakdown:
Money: More Than Just Numbers
Bernie and Jaskiran start by exploring how money is not just about figures.
For many, it is tied to emotions such as fear, shame, and anxiety, often linked to early experiences.
Jaskiran explains that by age seven, our attitudes towards money are already forming, shaping how we handle it for the rest of our lives.
Understanding Money Scripts
Jaskiran introduces the concept of money scripts, which are core beliefs about money, such as "money avoidance," "money worship," "money status," and "money vigilance."
These scripts influence spending, saving, and thinking about financial success. She provides insights on becoming more aware of these patterns.
Societal Pressure and Financial Trauma
The conversation touches on how societal expectations and comparisons, often driven by social media, can cause financial trauma.
Jaskiran discusses how venture capital funding impacts founders from marginalised groups and advises on building financial resilience without falling into the funding trap.
Freelancers and Financial Pressures
Bernie and Jaskiran examine freelancers' challenges, such as delayed payments and underpayment from larger companies, which lead to financial stress.
They offer freelancers helpful tips on advocating for themselves and setting healthier financial boundaries.
Money, Mental Health, and Suicidal Thoughts
As the discussion continues, the focus shifts to the link between financial stress and mental health.
Jaskiran talks about how financial insecurity, particularly among freelancers and small business owners, can lead to anxiety, isolation, and even suicidal thoughts.
This part of the conversation encourages openness around financial challenges and mental health.
Managing Stress Through Nervous System Regulation
Jaskiran shares techniques for managing the emotional triggers related to money, such as mindfulness and breathing exercises.
She explains how understanding the physical signs of financial stress can lead to more thoughtful conversations and decisions about money.
Links & Resources:
- on Substack
Jaskiran’s Finance Therapy publication on Substack.
Article: Broke, not broken - World Suicide Prevention Day Edition
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Exploring Money Trauma and Financial Resilience with Jaskiran Mangat