2006: Inside Financial Therapy: How to Heal Your Relationship with Money

**Farnoosh Torabi** (0:00)
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**SPEAKER_2** (0:38)
You're listening to So Money with award-winning money guru Farnoosh Torabi. Each day, get a 30-minute dose of financial inspiration from the world's top business minds, authors, influencers, and from Farnoosh yourself.
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**Bobbi Rebell** (1:04)
People will come to me and they will say, I'm so embarrassed I made this mistake. Or they'll say, I'm so ashamed I did this. But when you get down to it and again, you let them keep talking and do your exquisite listening as we say, it comes out that in fact, it wasn't a choice. It was something that happened to them. So what I often have people do and even write this down, is make a column of things that were out of your control and things that are in your control. And that's a complicated thing in our society. And I don't want to get into a whole conversation about what economic structure is best. I do believe in capitalism with some social safety nets. But part of what's driving a lot of anxiety, financial anxiety in our broader society these days, is that there are systemic things that happen to people that they cannot control. And that can be incredibly frustrating.

**Farnoosh Torabi** (1:52)
Welcome to So Money, everyone. I'm Farnoosh Torabi. Our guest today is someone I've known and admired for a long time, Bobbi Rebell. She is a certified financial planner, founder of Financial Wellness Strategies and author of Launching Financial Grownups, Live Your Richest Life by Helping Your Almost Adult Kids Become Everyday Money Smart. She's also the author of How to Be a Financial Grownup. And Bobbi was previously a global business news anchor and personal finance columnist at Thomson Reuters. She's held positions at CNBC, CNN, PBS. And so you can tell she's spent decades translating money into plain English for millions. But today we're talking about Bobbi's latest chapter. She recently became a certified financial therapist, a credential that sits at the intersection of money and mindset and one she worked hard for the long way, no shortcuts. We're going to dig deep into why she pursued it, what financial therapy actually is, and how understanding our money psychology, from childhood money memories to the algorithms shaping our spending, can change how we feel about our financial choices, even the ones we didn't fully choose. Here's Bobbi Rebell.
Florida looks good on you.

**Bobbi Rebell** (3:07)
I love Florida. Florida's been good.

**Farnoosh Torabi** (3:10)
Yeah.

**Bobbi Rebell** (3:11)
I wish I came earlier. I still visit New York a lot, but it's pretty, I mean, I got palm trees outside my window, Farnoosh. What could be better? Palm trees and a swimming pool.

**Farnoosh Torabi** (3:20)
Bobbi Rebell, welcome to So Money, making me jealous before we even start with the first question, but it's so good to see you.

**Bobbi Rebell** (3:27)
Good to see you too. Let's remind everybody, you're coming from beautiful Montclair, New Jersey, hot real estate market where it's also an amazing place to live.

**Farnoosh Torabi** (3:36)
Well, fun fact, a home in our neighborhood that is a mansion that is often featured on TV. I think it was on the Netflix movie, in the Netflix movie with Jennifer Lopez. Constantly being scouted for the next film, the next commercial. It just sold for $8.1 million.
I know. I don't think I've ever seen in person an $8.1 million home in my life. We don't know who bought it. I'm hoping it's a Nick, a basketball player or at that level, who could it be? It's not going to be a doctor or a podcaster for that matter. It's going to be maybe someone famous. That's what I'm hoping.

**Bobbi Rebell** (4:14)
Maybe someone famous. Maybe. You're going to have to investigate and get to the bottom of that, because I know you have a very popular local podcast. We're on top of that. We'll get to the bottom of it.