What is Financial Trauma? Managing Scarcity Mindset and Overspending

On the list of the things we're not supposed to talk about, money is at the top. But money plays a BIG role in our lives-- whether we have it or not-- so let's TOC about it.
When we grow up low-income and struggle with food and shelter insecurities, one of two things can happen for us when we grow up: overcompensating in our finances, or overspending. This is financial trauma. In today's episode, we talk about what it looks like day-to-day and how to help ourselves manage it.
Always cheering for you,
Deniss
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**Content on this channel is not intended to be a substitute for professional medical/clinical advice, diagnosis, and/or treatment. Information shared is for educational purposes only. It is not therapy. Never disregard professional medical/ clinical advice or delay seeking it because of something you have read or seen on this channel. If you think you may need emergency medical assistance please call your doctor, go to the emergency room, and/or call 911 immediately. If you are a current or past client, you are free to subscribe. Please note that I will not engage with you via messages, comments due to ethical boundaries. You are welcome to leave comments but keep in mind that if you choose to do so, I am unable to protect your confidentiality on this platform.
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Пікірлер: 30

  • @yolandaingram7378
    @yolandaingram7378 Жыл бұрын

    I am not afraid to look at my accounts. In fact, I can’t stop looking. It’s an unhealthy obsession.

  • @isaachwjoseph
    @isaachwjoseph Жыл бұрын

    Scarcity mindset is the belief that there is not enough of something to go around. This could be money, love, opportunities, or anything else. People who have a scarcity mindset believe that they have to compete with others for these limited resources. This belief can lead to negative thinking, anxiety, and depression. People with a scarcity mindset may also: -Always feel like they are behind or not good enough -Be envious of others -Feel like they need to “hustle” all the time -Never feel like they have enough -Constantly compare themselves to others

  • @Meowverick

    @Meowverick

    2 ай бұрын

    Overgeneralization. Just bc someone experiences scarcity mindset doesn't mean they're more likely to envy others, for example. In fact, if they will envy, it's not a direct result of scarcity mindset...scarcity mindset is just a trigger for an envious psychological foundation that was already there. It's like saying "pregnant women may pee" - the woman pees either way, womb pressing on the bladder or not. Likewise, scarcity mindset is not the cause of the envy and it's already there with or without scarcity mindset; unless it's not, in which case, scarcity mindset doesn't induce it. The rest of that list is the same way. It's a heuristic.

  • @domainmailbox3850
    @domainmailbox38502 жыл бұрын

    Yes, it is SCAR-CITY. I've been dealing with these wounds all of my adult life which is about 40 yrs.👍🏽

  • @TherapyExplained

    @TherapyExplained

    2 жыл бұрын

    I'm so sorry to hear you've carried this for so long, and I hope that these videos will help you get some education and support in starting to heal it.

  • @AdrianSalomo
    @AdrianSalomo Жыл бұрын

    Thank you! I didn't know that being anxious about looking at one's bank statements was connected to something deeper.

  • @TherapyExplained

    @TherapyExplained

    Жыл бұрын

    You're so welcome. I hope the video was helpful in better understanding yourself!

  • @myshavikes6263
    @myshavikes62639 ай бұрын

    I defintely still am in a low income home, but doing better than when I was younger. I have such a scarcity mindset. I saved up a couple thousand specifically for some new things during a move. When I was spending the money that I saved up, for that purpose. I felt bad about it. I have really had to look back, with the help of my therapist, and be like "THATS LITERALLY WHAT THE MONEY IS FOR!" I am defintely trying to stop letting my scarcity hender me from getting/doing things that bring me joy.

  • @tomatochemist
    @tomatochemist2 жыл бұрын

    I do both, my family was financially bulimic. Saving up and paying off debt, then running it up again. It’s a hard cycle to break. I started contributing to an Sep-IRA this year as a self employed person, and think of that as money I can’t touch for the long term.

  • @TherapyExplained

    @TherapyExplained

    2 жыл бұрын

    Healing this means allowing ourselves to find what feels the most comfortable for us. Thank you for sharing your experience!

  • @keke9670

    @keke9670

    Жыл бұрын

    I, just a few hours ago, realized that my financial situation is also bulimic. I had an actual eating disorder for 10 years and I realized today that the behavior transferred over to my money. So relevant. Thanks for sharing!

  • @jds0981
    @jds09814 ай бұрын

    "What is mentionable is manageable", thank you for this!

  • @bigheadeddog5789
    @bigheadeddog57899 ай бұрын

    0:00-0:18- Preview 0:18-1:08- Introduction 1:09-2:05- What is Financial trauma 2:06-4:06- Scarcity Mindset 4:07-5:58- Over-Spending 5:59-8:52- How to manage it 8:53-10:03- Reviewing 10:03-10:46 Social media handles etc.

  • @nancyxxbear
    @nancyxxbear7 ай бұрын

    You speak my hearts language ❤️🙏🏽 I’m so so happy you’re a therapist and are sharing your knowledge. I cried bc this is the first time I hear someone share what it feels like to have this relationship with money as a poc and I’m so thankful I found your channel/ thank you ❤

  • @janicesmith56
    @janicesmith563 жыл бұрын

    Can we have a video on people who have a scarcity mindset with money because they loss money in the past and it scared this happens again?

  • @TherapyExplained

    @TherapyExplained

    3 жыл бұрын

    I love this idea. Yes, absolutely! I'll add it to my list. Keep an eye for it! ☺️

  • @janicesmith56

    @janicesmith56

    3 жыл бұрын

    @@TherapyExplained Thank you! I will turn on notifications.

  • @elevatedbyelle

    @elevatedbyelle

    2 жыл бұрын

    I'm going through this and I have OCD

  • @jasminel.9426
    @jasminel.94262 жыл бұрын

    This is a great video i definitely would say i have a scarcity mindset and that mostly being bc my parents are often over spenders who even now are constantly in debt. Its been hard trying to find a balance i often would just avoid spending at all and then when i do have money it mostly all goes to bills. I will definitely try some of these tips! Thank you for this, a lot of us (especially with inflation being so high) are just trying to find a way that works!

  • @TherapyExplained

    @TherapyExplained

    2 жыл бұрын

    Thank you so much for your kind comment and I hope the tips help! . Thank you for sharing your experience. It does also help to know we are not alone and I hope someone can also find strength from your story.

  • @diariodeunartista
    @diariodeunartista Жыл бұрын

    Thank you for your video! it helped me understand and validate my experience. As a venezuelan woman I have been though a lot with my family financially; I've moved to 4 different countries and I'm mentally and physically exhausted, with no family around , althought I am very priviliged I sometimes don't validate my own experiences. Now I'm researching as much as possible, healing my relationship with money and learning about myself so I can help other venezuelans in my community.

  • @TherapyExplained

    @TherapyExplained

    Жыл бұрын

    You are si welcome and thank you for your story. I'm happy yo hear you've started this journey and that I got to be a small part of it. Sending you good vibes ✨️

  • @klerain5774
    @klerain57746 ай бұрын

    This actually helped me which means I can work on it. I get severe anxiety looking at my spending and openings letters that come in the mail

  • @naaaameeeee
    @naaaameeeee Жыл бұрын

    Thank you so much for this video. ❤ definitely subscribed and I look forward to your future content ❤

  • @TherapyExplained

    @TherapyExplained

    Жыл бұрын

    Thank you so much for watching! I hope you find the future videos helpful ❤️

  • @katherine_art05
    @katherine_art05 Жыл бұрын

    It is strange. In my case I had the best education, I always had everything that I wanted and needed. Holidays, beautiful clothes but I have a huge fear with money. I had some money issuess in my past. I've been doing a lot of job to heal but it has been not very easy to overcome my past. Guilt and shame have been within me. Especially because my father has had to help me. In the case of my mom and dad their families had had difficult financial situation.

  • @TherapyExplained

    @TherapyExplained

    Жыл бұрын

    Thank you for sharing your experience, it's so important to acknowledge how each of our individual experiences sometimes lead to the same symptoms. This is why individual treatment is so important. Because it is tailored to you and your needs.

  • @Banana-sb1hi
    @Banana-sb1hi6 күн бұрын

    For people of color, does white and biege people with light Colorful eyes count or are you a racist as most people who use the term of colour?

  • @ranikster9955
    @ranikster9955Ай бұрын

    Thank you so much ☺️ I can see now that I buy things I was not allowed to have when I was younger such as expensive foods, phones 📱 or expensive shampoo 🧴 and so I overspent for many years

  • @yolandaingram7378
    @yolandaingram7378 Жыл бұрын

    I am not afraid to look at my accounts. In fact, I can’t stop looking. It’s an unhealthy obsession.