280. How to Stop Making Emotional Financial Decisions with Dr. Nick
· 55 min · Episode 280
Episode 280. How to Stop Making Emotional Financial Decisions with Dr. Nick
If you've ever thought, "I know what I'm supposed to be doing with my money, so why can't I just do it?"–– this episode is going to change everything.
I'm sitting down with Dr. Nick, a licensed neuropsychologist and executive cognition specialist, to unpack the brain science behind why smart, capable women still make emotional financial decisions. We're going into the dopamine deficit that makes long-term financial goals feel impossible to start, the norepinephrine surge that only kicks in when things become an emergency, and why "I'm bad with money" is a story your brain makes up — not a fact about who you are.
Dr. Nick breaks down how emotional dysregulation silently drives impulse spending, financial avoidance, and the boom-bust cycle so many of us know too well, and more importantly, how to build systems, practice self-compassion, and rewire your brain's relationship with money, one small win at a time.
Dr. Nick’s links:
Website: https://www.drnicolemurray.com/
Visit https://herfirst100k.com/ffpod to stay up to date and find any resources mentioned on our show.
If you're feeling stressed about money, we've created a money plan to help you, no matter where you're getting started. Taking a quick 2-minute quiz to get your money plan at https://herfirst100k.com/ffpod
In this episode:
00:00 How Emotional Decisions Shape Your Finances
01:47 Why Knowing Isn't Enough: The Brain Science
02:56 The Role of Dopamine in Financial Decisions
05:11 How to Create Urgency Before a Crisis
07:52 "I'm Just Bad With Money" — Debunked
10:15 What Is Emotional Regulation (And Why It Matters)
14:52 The Intensity Gauge: Rating Your Emotions
15:02 Managing the "Always at an 8" vs. Numb Baseline
17:29 Making Financial Decisions at a 5, 6, or 7
19:19 Replacing Mindless Spending With Systems
29:54 Willpower Is a Myth — Here's What Actually Works
32:11 The Case for Self-Compassion Over Willpower
35:43 The Boom-Bust Cycle of Financial Motivation
39:28 How Emotional Regulation Changes With Age
42:24 Preparing for Life's Transitions
49:00 Rebuilding Trust With Yourself and Your Money
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