Lauren Cobello
Lauren Cobello, Dr. Thomas Richardson
Dr. Thomas Richardson: How BiPolar affects our spending, how to know if your overspending is associated with Mental Health issues
Dr. Thomas Richardson: How BiPolar affects our spending, how to know if your overspending is associated with Mental Health issues
Dr. Thomas Richardson: How BiPolar affects our spending, how to know if your overspending is associated with Mental Health issues
Monday 17th January 2022
Learn how bipolar disorder impacts spending habits with Dr. Thomas Richardson on Hard Money Talks. Get practical tips for managing impulsive spending.
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51 minutes
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About this podcast
Author:
Lauren Cobello
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Categories:
Financial Health in Recovery
Navigating Intimate Relationships
Healing Relationships
Sobriety Toolkit
Mindfulness & Emotional Wellbeing
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Episodes:
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Get the buttons here!Bipolar and Your Wallet: Insights from Dr. Thomas Richardson
I did a meta-analysis, which is where you pull together all the research. Or, looking at it the other way, if you've got a mental health problem, you're more than three times likely to be in debt.
Ever wondered if your spending habits might be tied to your mental health? In this episode of Hard Money Talks, Lauren Greutman sits down with Dr. Thomas Richardson, a top researcher and Clinical Psychologist, to explore the fascinating link between bipolar disorder and impulsive spending. Dr. Richardson, who not only studies this connection but also lives with bipolar disorder himself, offers a unique and deeply personal perspective on the topic.
The conversation dives into how mental health issues can lead to financial difficulties, with Dr. Richardson revealing that individuals with mental health problems are over three times more likely to find themselves in debt. He shares findings from his extensive research, including a meta-analysis that highlights the strong connection between bipolar disorder and financial struggles. But it’s not just about the numbers; Dr.
Richardson also touches on the emotional aspects, such as the excessive generosity often exhibited by those with bipolar disorder, which can lead to impulsive spending. Lauren and Dr. Richardson discuss practical tools and strategies to manage these spending habits. From gambling blocks to browser extensions that freeze your shopping cart for a set time, they offer actionable advice for anyone grappling with impulsive spending. The episode emphasizes the importance of recognizing warning signs and seeking professional help when needed.
This episode is a treasure trove of information and practical tips, making it a must-listen for anyone interested in understanding the psychological roots of their financial behaviors. Whether you’re dealing with bipolar disorder yourself or know someone who is, this conversation provides valuable insights into managing finances more effectively.