Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/contact-us?utm_source=content&utm_medium=youtube&utm_campaign=rationalreminder_yt What if the key to financial success isn’t just a better budget, but a better understanding of your relationship with money? In this episode of the Rational Reminder Podcast, Ben and Dan sit down with Jessica Moorhouse to delve into the ins and outs of personal finance. Jessica is a money expert, Accredited Financial Counsellor Canada®, speaker, and bestselling author of Everything but Money. She is also the host of the More Money Podcast, one of Canada’s leading personal finance shows. During today’s conversation, Jessica unpacks the difference between a financial planner and a counsellor and why empathy is the missing piece in personal finance. Find out how different emotions and early memories of money can influence our perspective on personal finance, hear why understanding your relationship with money is so important, and learn about common financial behaviours to avoid. Jessica also delves into the value of understanding past traumas, the power of intergenerational money experiences, and whether mental health or a financial foundation is more important. Tune in now! Timestamps: 0:00:00 Intro 0:03:56 Describing the difference between a financial counsellor and a financial planner 0:08:40 How much of Jessica's work is financial planning vs. financial counselling 0:11:30 The missing puzzle piece in the personal finance space 0:18:04 How important relative financial standing is to the relationship people have with money 0:20:52 How recognizing, or failing to recognize, one's privilege is related to how one view's their own financial position 0:26:44 The difference between rational and irrational money guilt 0:30:36 The difference between jealousy and envy, and how they affect our relationship with money 0:36:49 Going through the First Money Memories exercise 0:43:46 How someone understanding their own money story helps them make better financial decisions 0:48:55 Some of the most harmful (toxic) money behaviors that Jessica sees 0:54:04 Jessica's thoughts on trauma being used as an excuse for bad behaviour 0:59:14 The point it becomes inappropriate to ask personal questions in an advisor-client relationship 1:01:39 What Jessica coaches people to focus on first - mental health, or building a solid financial foundation 1:07:19 Some of the best ways to spend money in a way that increases happiness 1:12:12 How people can approach re-writing their own money stories 1:14:46 Jessica defines success in her life Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato — https://canadiancouchpotato.com/ Jessica Moorhouse — https://jessicamoorhouse.com/ Jessica Moorhouse on LinkedIn — https://www.linkedin.com/in/jessicaimoorhouse/ Jessica Moorhouse on YouTube — https://www.youtube.com/c/jessicamoorhouse1 Jessica Moorhouse on TikTok — https://www.tiktok.com/@jessicaimoorhouse Jessica Moorhouse on Facebook — https://www.facebook.com/jessicaimoorhouse Jessica Moorhouse on Instagram — https://www.instagram.com/jessicaimoorhouse/ More Money Podcast — https://podcasts.apple.com/za/podcast/more-money-podcast/id996219697 Everything but Money — https://www.amazon.com/Everything-but-Money-Barriers-Financial/dp/1443472174