Seventy-two percent of Americans confess that they are always or sometimes stressed about money, yet 68% of them do not have a written monthly spending plan. Why don’t more people utilize a budget if they are so anxious about their finances? Christine Luken, the Financial Lifeguard, knows the answer: money management isn’t just about math; it’s about emotion.
The emotional, mental, and relational aspects of money are largely ignored in many personal finance books and courses. If they’re mentioned at all, constructive solutions for handling these emotional money issues are rarely offered.
“If money is emotional, then why do we persist in trying to manage our personal finances logically? We already know what it takes to become financially healthy: spend less than we make, pay down our debt, and save more money. Yet many people have adopted the practice of ignoring money problems until they are barreling down on them like a tidal wave, as I once did,” says Christine.
Christine Luken knows what it feels like to be drowning financially.
Sixteen years ago, she hit financial rock bottom: owing three payday lenders money, behind on all of her bills, and dodging collector calls—despite having a degree in Accounting.
How did this happen to a smart young woman who made the National Honor Society? It’s because, she says, she was making emotional decisions with her personal finances, not logical ones. She allowed her heart to hijack her wallet.
For seven years, she dated and then eventually became engaged to a man who was irresponsible with his money. Unfortunately, many of his bad money habits rubbed off on her. She bailed her fiancé out of his financial messes (and out of jail) on numerous occasions. By the time she’d had enough, her bank account was in the red and her credit was ruined.
Once she recovered both emotionally and financially from her experience after breaking off the engagement, Christine Luken decided to help rescue others out of their emotional money messes and teach them a new way to manage money.
Today, as a Certified Financial Coach and member of the Financial Therapy Association, she blends practical financial advice with tactics proven to diffuse emotional money hot buttons for individuals, couples, and small business owners.
In her new book, Money is Emotional: Prevent Your Heart from Hijacking Your Wallet, Luken explains her “Mindful Money Management” approach to personal finance. It is unique in that it short circuits negative emotions and harnesses the power of positive emotions to propel people towards their Preferred Financial Destination.
The Mindful Money Management approach doesn’t require people to eat beans and rice or to spend hours updating budget spreadsheets. Christine wrote this book, chock-full of stories, illustrations, and practical exercises, for her clients who hate math and are intimidated by money management.
Yes, money is emotional, but people can prevent their hearts from hijacking their wallets by following her advice. She’s even developed a free downloadable workbook for her readers to implement the Mindful Money Management tactics. The book launches today and is for sale on Amazon.com.
For more information regarding the Money is Emotional book, go to www.MoneyIsEmotional.com or www.ChristineLuken.com
Luken graduated from Northern Kentucky University with a Bachelor’s degree in Accounting, with minors in Business Administration and Psychology. Christine worked for 13 years as the Vice President of HR & Accounting in the manufacturing sector before starting her own company, 7 Pillars, LLC in 2010.
Christine lives in the Greater Cincinnati area with her husband, Nick, and two cats, Peanut and Little Tiny.
