{"id":9509,"date":"2024-04-30T06:00:23","date_gmt":"2024-04-30T10:00:23","guid":{"rendered":"https:\/\/elainefroese.com\/?p=9509"},"modified":"2024-05-14T05:40:32","modified_gmt":"2024-05-14T09:40:32","slug":"what-does-money-mean-to-you","status":"publish","type":"post","link":"https:\/\/elainefroese.com\/2024\/04\/30\/what-does-money-mean-to-you\/","title":{"rendered":"21: What Does Money Mean to You?"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/y_79Vbk7G2w?si=G_XAQlgioJL9qENs\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\"><div class=\"player_container player-9509\" ><div class=\"spp_player_textabove\"><b>  <\/b><\/div><div id=\"sm2-9509\" class=\"sm2-9509 playercontent sm2-bar-ui compact flat full-width full-width-player\"><div class=\"bd sm2-main-controls\">\r\n\t\t\t\t\t\t\t\t\t<div class=\"sm2-inline-element sm2-button-element\">\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"sm2-button-bd\" style=\"background: transparent url() repeat scroll 0% 0% \/ cover ;\">\r\n\t\t\t\t\t\t\t\t\t\t<div id=\"spp-player-background\"> <\/div>\r\n\t\t\t\t\t\t\t\t\t\t<a href=\"#play\" class=\"sm2-inline-button play-pause\"><\/a>\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"loader\" style=\"display:none;\"><\/div>\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"eq\">\r\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"bar bar-1\"><\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"bar bar-2\"><\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"bar bar-3\"><\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"bar bar-4\"><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<\/div><div class=\"sm2-inline-element sm2-inline-status progressbar\">\t\t\t\r\n\t\t\t\t\t\t\t\t\t<div class=\"sm2-button-bd\" style=\"\">\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"playerpitch0\" style=\"display:none;\">0.75x<\/div>\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"playerpitch1\">1x<\/div>\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"playerpitch2\" style=\"display:none;\">1.25x<\/div>\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"playerpitch3\" style=\"display:none;\">1.5x<\/div>\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"playerpitch4\" style=\"display:none;\">2x<\/div>\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t<div class=\"sm2-button-bd\" style=\"\">\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"secrewind\"><\/div>\r\n\t\t\t\t\t\t\t\t\t<\/div>\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t<div class=\"sm2-playlist\">\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"sm2-playlist-target\"><\/div>\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t<div class=\"sm2-progress\">\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"sm2-progress-bd\">\r\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"sm2-progress-track\">\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"sm2-progress-bar1\" style=\"display:none;\"><\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"sm2-progress-bar\"><\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"sm2-progress-ball\"><div class=\"icon-overlay\"><\/div><\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"sm2-row timestamp timetext\" style=\"display:none;\"><div class=\"sm2-inline-time timestamp\">0:00<\/div><div class=\"sm2-inline-duration timestamp\">...<\/div><\/div>\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t<div class=\"sm2-inline-element sm2-button-element sm2-volume\" style=\"1\">\r\n\t\t\t\t\t\t\t\t\t   <div class=\"sm2-button-bd\">\r\n\t\t\t\t\t\t\t\t\t\t<span class=\"sm2-inline-button sm2-volume-control volume-shade\"><\/span>\r\n\t\t\t\t\t\t\t\t\t\t<a href=\"#volume\" class=\"sm2-inline-button sm2-volume-control\" style=\"\"><\/a>\r\n\t\t\t\t\t\t\t\t\t   <\/div>\r\n\t\t\t\t\t\t\t\t  <\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<div class=\"bd sm2-playlist-drawer sm2-element\">\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t<div class=\"sm2-playlist-wrapper\">\r\n\t\t\t\t\t\t\t\t\t<ul class=\"sm2-playlist-bd\"><li><a href=\"https:\/\/traffic.libsyn.com\/56d782f0-8d4c-422c-bdaa-d2db59d90bab\/Ep_21_Audio_-_Elaine_.mp3\">21: What Does Money Mean to You?<\/a><\/li><\/ul>\r\n\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t<\/div><div class=\"sppbuttons\" style=\"\"><a class=\"button-itunes\" target=\"_blank\" style=\"\" href=\"https:\/\/podcasts.apple.com\/us\/podcast\/farm-family-harmony-podcast\/id1659119952?ls=1\">Apple Podcasts<\/a><a class=\"button-g-play\" target=\"_blank\" style=\"display:none !important;\" href=\"\">Google Podcasts<\/a><a class=\"button-embed\" rel=\"modal:open\"  id=\"button-embed\" style=\"display:none !important;\" href=\"#ex1\">Player Embed<\/a><a class=\"button-share\" data-target=\"btnshare\" style=\"\" href=\"#\">Share<\/a>\r\n\t\t\t\t<div id=\"btnshare\" class=\"webui-popover-content share-buttons\">\r\n\t\t\t\t\t\t<a href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/elainefroese.com\/2024\/04\/30\/what-does-money-mean-to-you\/\" title=\"Share on Facebook\" target=\"_blank\" class=\"facebook\"><i class=\"fa fa-facebook\"><\/i><\/a>\r\n\t\t\t\t\t\t<a href=\"https:\/\/twitter.com\/share?text=21%3A+What+Does+Money+Mean+to+You%3F -&url=https:\/\/elainefroese.com\/2024\/04\/30\/what-does-money-mean-to-you\/\" title=\"Share on Twitter\" target=\"_blank\" class=\"twitter\"><i class=\"fa fa-twitter\"><\/i><\/a>\r\n\t\t\t\t<\/div><a class=\"button-sppreview\" target=\"_blank\" style=\"display:none !important;\" href=\"http:\/\/getpodcast.reviews\/id\/1659119952\">Leave a Review<\/a><a class=\"button-spplisten\" style=\"display:none !important;\" target=\"_blank\" href=\"javascript:window.open('https:\/\/traffic.libsyn.com\/56d782f0-8d4c-422c-bdaa-d2db59d90bab\/Ep_21_Audio_-_Elaine_.mp3','','width=500,height=250')\">Listen in a New Window<\/a><a class=\"button-download\" target=\"_blank\" style=\"\" href=\"https:\/\/traffic.libsyn.com\/56d782f0-8d4c-422c-bdaa-d2db59d90bab\/Ep_21_Audio_-_Elaine_.mp3\">Download<\/a><a class=\"button-soundcloud\" target=\"_blank\" style=\"display:none !important;\" href=\"\">SoundCloud<\/a><a class=\"button-stitcher\" target=\"_blank\" style=\"display:none !important;\" href=\"\">Stitcher<\/a><a class=\"button-sppandroid\" target=\"_blank\" style=\"display:none !important;\" href=\"\">Subscribe on Android<\/a><a class=\"button-spprss\" target=\"_blank\" style=\"display:none !important;\" href=\"\">RSS Feed<\/a><a class=\"button-spotify\" target=\"_blank\" style=\"\" href=\"https:\/\/open.spotify.com\/show\/0UCkbGF76mrbbP8UJdjP3e\">Spotify<\/a><a class=\"spp-button-custom1\" target=\"_blank\" style=\"\" href=\"https:\/\/www.youtube.com\/playlist?list=PLiLbc86FzxuNJEtfbGkdnyb6w4P2X6beF\">YouTube<\/a><a class=\"spp-button-custom2\" target=\"_blank\" style=\"display:none !important;\" href=\"\"><\/a><a class=\"spp-button-custom3\" target=\"_blank\" style=\"display:none !important;\" href=\"\"><\/a><a class=\"spp-button-custom4\" target=\"_blank\" style=\"display:none !important;\" href=\"\"><\/a><a class=\"spp-button-custom5\" target=\"_blank\" style=\"display:none !important;\" href=\"\"><\/a><a class=\"spp-button-custom6\" target=\"_blank\" style=\"display:none !important;\" href=\"\"><\/a><\/div><\/div><\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this thought-provoking episode of the Farm Family Harmony Podcast, <\/span><b><i>What Does Money Mean to You?<\/i><\/b> <span style=\"font-weight: 400;\">Elaine and financial psychologist Dr. Moira Somers dive into the complexities of wealth and legacy within affluent families. They explore the intricate web of personal narratives surrounding money, emphasizing its profound impact on family dynamics and future planning. Throughout their discussion, they stress the importance of financial responsibility, literacy, and effective communication in managing family wealth and resolving conflicts. Together, they provide practical insights and guidance for navigating the intricate landscape of wealth, fostering sustainable wealth management, and leaving a meaningful legacy for future generations.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cIf you can show up peaceably, in regards to your relationship to money, you can often show up much more peaceably in regards to relationships in general.\u201d<\/span><\/i><\/p>\n<p><b>Timestamps:<\/b><\/p>\n<p><b><span>[4:18]<\/span>: <\/b><span style=\"font-weight: 400;\">Discuss the challenge of transferring wealth to the next generation, particularly for those who have experienced financial insecurity in the past.<\/span><\/p>\n<p><b><span>[11:54]<\/span>: <\/b><span style=\"font-weight: 400;\">Emphasize the importance of financial education and literacy, particularly for women, and encourage them to seek advice from trustworthy advisors.<\/span><\/p>\n<p><b><span>[22:51]<\/span>:<\/b><span style=\"font-weight: 400;\"> Discuss challenges in having difficult conversations with farm families about transferring wealth, including feelings of embarrassment and humiliation around not meeting expectations.<\/span><\/p>\n<p><b><span>[27:20]<\/span>: <\/b><span style=\"font-weight: 400;\">Acknowledge difficulty in equally distributing wealth within a family business, suggesting mechanisms for addressing this issue.<\/span><\/p>\n<p><b><span>[31:42]<\/span> <\/b><span style=\"font-weight: 400;\">Discuss the importance of sharing emotions and perspectives on money management in a family farm business.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Dr. Moira Somers is a psychologist, family wealth consultant, and executive coach. She specializes in the psychology of money. Moira addresses matters that range from the highly personal concerns of individuals and families all the way up to broader service, design, and structural issues affecting financial follow-through and equitable access to capital.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Visit her website for more information: <\/span><\/i><strong><em><a href=\"https:\/\/moneymindandmeaning.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/moneymindandmeaning.com\/<\/a><\/em><\/strong><\/p>\n<ul>\n<li><strong>Download Free Resources: <a href=\"http:\/\/elainefroese.com\/free-planning-resources\/\" target=\"_blank\" rel=\"noopener\">elainefroese.com\/free-planning-resources\/<\/a><\/strong><\/li>\n<li><strong>Book Elaine Froese to Speak at Your Next Event: <a href=\"http:\/\/elainefroese.com\/speaking\" target=\"_blank\" rel=\"noopener\">elainefroese.com\/speaking<\/a><\/strong><\/li>\n<li><strong>Get a Farm Transition coach: <a href=\"http:\/\/elainefroese.com\/coaching\" target=\"_blank\" rel=\"noopener\">elainefroese.com\/coaching<\/a><\/strong><\/li>\n<li><strong>Shop Elaine\u2019s Bookstore: <a href=\"http:\/\/elainefroese.com\/shop\/#books\" target=\"_blank\" rel=\"noopener\">elainefroese.com\/shop\/#books<\/a><\/strong><\/li>\n<li><span data-sheets-root=\"1\" data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;In this episode of the Farm Family Harmony Podcast, Elaine welcomes special guest Shelby Watson-Hampton, a fourth-generation farmer, marketing specialist, and author of \\&quot;Grace, Grit, and Lipstick.\\&quot; Join the conversation as they discuss the challenges and triumphs of farm life, emphasizing effective communication, work-life balance, and the power of mentorship. Gain insights, practical tips, and inspiration for navigating your journey with grace and confidence. Tune in for a celebration of the unique stories and contributions of women in agriculture.\\r\\n\\r\\nDownload for free here: elainefroese.com\/free-planning-resources\/ \\r\\n\\r\\nBook Elaine Froese to Speak at Your Next Event: elainefroese.com\/speaking\\r\\n\\r\\nGet a Farm Transition coach: elainefroese.com\/coaching\\r\\n\\r\\nShop Elaine\u2019s Bookstore: elainefroese.com\/shop\/#books. \\r\\n\\r\\nOur founding Members launch is now past, and if you\u2019d like to be on the waitlist to join our Farm Family Transition Membership, please sign up for the waitlist to join us in February: elainefroese.com\/membership&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:33555265,&quot;3&quot;:{&quot;1&quot;:0},&quot;9&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;28&quot;:1}\"><strong>Order Words That Change Minds Here:<\/strong><\/span>\u00a0<strong><a href=\"https:\/\/amzn.to\/3RQUVKb\" target=\"_blank\" rel=\"noopener\">https:\/\/amzn.to\/3RQUVKb<\/a><\/strong><\/li>\n<\/ul>\n<p><strong>Join the waitlist for our Farm Family Transition Membership. Doors next open in October. <a class=\"waffle-rich-text-link\" href=\"https:\/\/elainefroese.com\/membership\/\" target=\"_blank\" rel=\"noopener\">elainefroese.com\/membership<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Explore the complexities of wealth and legacy in affluent families with special guest Dr. Moira Somers, a financial psychologist. Dive into personal narratives, financial responsibility, and effective communication for sustainable wealth management.<\/p>\n","protected":false},"author":2,"featured_media":9511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1473],"tags":[1840,1843,1842,1841,1844,887,1839,1802,548,1838],"class_list":["post-9509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-farm-family-harmony-podcast","tag-difficult-conversations-in-family-businesses","tag-dr-moira-somers","tag-emotions-in-money-management","tag-equitable-distribution-of-wealth","tag-family-wealth-consultant","tag-farm-family-dynamics","tag-financial-education-for-women","tag-financial-literacy","tag-legacy-planning","tag-wealth-transfer-challenges"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>21: What Does Money Mean to You?<\/title>\n<meta name=\"description\" content=\"What does money mean to you? 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