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Identifying and healing your money wounds with Karen Eley

In both personal and professional spheres, “Money Wounds” presents as an inescapable encounter. The pursuit of financial stability and success often comes with its fair share of challenges and setbacks that tend to trigger our dormant money wounds. Whether big or small, these wounds can manifest in various ways, causing us to feel shame about money, perceive it as psychologically unsafe, avoid financial discussions, and struggle to act rationally in money-related situations. Most of our money wounds, emotions, energies, and behaviour patterns are shaped during our formative years, and addressing and working through them often involves going back to the past.

In this episode, Karen Eley, an ex-financial advisor turned coach, shares more about money wounds, money and identity, and how to build a positive money mindset, rituals, habits, and behaviours. Whether you want to get better at your numbers game, money management, budgeting, or saving, creating a safe space internally and externally to speak about money and work on your money wounds will help you transform your relationship with money.

Tune in!

Episode Highlights:

[00:01] Episode intro and what’s in for you today

[02:41] A bit about Karen and what she does as a money coach

[05:14] Money wounds and how they present themselves in our financial path

[09:37] Practical example of little ts money wounds and how they impact our behavior

[13:20] How the money wounds are created, and patterns are reinforced in children

[14:53] How to support and encourage people to start healing money wound

[18:30] What to do to uncover and heal money when your memory is blurry

[22:08] Self-awareness and three pillars to help you overcome money wound

[26:46] How to approach your money mindset work with consistency

[29:12] How stressful events can trigger dormant wounds and how to create a better outcome

[30:53] How money gets intertwined with our identity and self-worth

[35:19] The role of financial psychology in financial and emotional literacy

[43:39] Little things you can do to build new money rituals, habits, and behaviors

[47:36] How to reach out and connect with Karen

Standout Quotes:

“As children we are not different as humans to any other animal species, we are born and we know in order to survive we need to model what our parents do and take on those habits on ourselves.”- Karen [15:36]

“Creating a safe space for money to be talked about is significant for a lot of people’s experience.’- Emma [20:134]

“If you don’t want to feel guilty about money anymore, you need to think about what you want to feel instead and train your body to feel that, this is like a muscle that you need to develop and work on.” – Karen [23:20]

“The way we are and how we feel about money is a mirror reflection of how we truly feel deep down about ourselves; money is like a mirror that reflects what we truly believe deep down about ourselves. ”- Karen [31:00]

“Don’t let the simplicity of the process diminish the effectiveness of what the outcome and the results are. ”- Karen [47:10]

Resources Mentioned

Atomic Habits James Clear: Connected

Karen Eley

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Instagram: @the.brokegeneration


Blog: The Broke Generation | Destination for Hot Mess Millennials

Disclaimer: Information contained in this podcast is for entertainment purposes only and should not be considered financial advice, nor used to make a financial or investment decision. Please seek professional advice for information tailored to your own circumstances.

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Episode Transcript

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