How to Make Smart Financial Decisions in Stressful Times, According to a Financial Therapist
When economic headlines, global unrest, or personal stressors pile up, financial planning can feel overwhelming. But according to Rick Kahler, President of the Kahler Financial Group and a certified financial therapist, the key to better financial decisions often starts with understanding your emotions.
“Money is something that we deal with 24/7,” says Kahler. “Ninety percent of all financial decisions are made emotionally.” That emotional connection to money can be influenced by everything from childhood experiences to current events—and those subconscious drivers can lead to poor decisions when stress is high.
Kahler encourages people to reflect on their internal stories and triggers—even those unrelated to money. “The more stressed we are, the more triggered we are. The higher the chance of a poor financial decision playing out,” he says.
Whether you’re buying a home, changing careers, or considering a family expansion, Kahler recommends pausing before taking action. Recognizing your emotional state can help prevent rash choices. “If I feel a lot of fear right now—maybe it’s about what’s going on in the world—that’s a good time to take a pause and assess what’s really going on,” he advises.
In today’s fast-paced world, where financial decisions come quickly and stress can run high, slowing down and checking in with your emotional well-being might be just what your wallet needs.
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