What are financial wounds?
Early in my career, I started calling the emotion around money that I was witnessing financial scar tissue. In our bodies, scar tissue is what remains after a wound has healed. The same is true of financial wounds. What are financial wounds? They come in many forms. For you, they may be memories of your parents arguing over bills, your experience of losing a job, getting divorced, experiencing bankruptcy, living through a recession, going hungry or being told, “Sorry, we don’t have enough money.” These invisible wounds, whether you acknowledge them or not, come to define your money thoughts, creating the behavioral patterns that keep you from attaining your goals. Real work toward financial happiness can only occur when your money wounds and their resulting behaviors are addressed.
Financial behavior patterns describe what we do with our money on an unconscious level. They explain, from an emotional perspective, why and how we make financial decisions. Traditional finance assumes that we are always rational and seek to maximize our wealth at every opportunity. However, behavioral finance recognizes that we may often act irrationally as the result of psychological biases, emotions, and cognitive errors.
SHANNON RYAN, CFP®Hi, I’m Shannon Ryan. As a Certified Financial Planner (CFP®) with three decades of experience, I’ve had the privilege of helping individuals and businesses build financial confidence. Over the years, I’ve discovered that even the most successful people often struggle with understanding the "why" behind their financial decisions. This isn’t surprising—most of us aren’t taught about the behavioral and emotional aspects of money.
Our financial habits are often inherited, influenced by our upbringing, societal pressures, and cognitive biases. Yet, many of us still rely on trial and error when it comes to managing money. I believe financial behavior is a crucial life skill, one that can transform not just your bank account but your overall well-being.
I’m excited to guide you on this journey of understanding your financial psychology, so you can make more informed, confident decisions about your wealth and future.
“Most people talking about money today in the media have never sat across from a real person and helped them make good decisions with their money in the midst of their busy, chaotic life. I do, every day. My goal is to empower people make informed confident decisions about their money, even when life is messy and emotional.”
– Shannon Ryan, CFP®
Many people delay addressing their financial behaviors because they don’t know where to start. Understanding the emotional and psychological factors behind your financial decisions can feel overwhelming without the right guidance. These resources help you navigate this journey, all designed to provide insights into your financial mindset.
Shannon is a veteran of the financial services industry and a highly in-demand public speaker for Corporate events and as a financial expert for Print, Web, TV and Radio. Known for her engaging style, Shannon delivers immense value to your readers, viewers or listeners by making finance personable, understandable and entertaining.
