Exploring The Transforming Power of Financial Psychology with Dr. Alex Melkumian

Today, Ed is joined by Dr. Alex Melkumian, a Licensed Marriage and Family Therapist with 15 years of experience under his belt. He is the founder of Financial Psychology Center in Los Angeles, California, and the author of Financial Psychology: Restoring Financial Wellness in a Post-COVID Economy.

Listen in as Dr. Melkumian breaks down the cause of financial stress and how to overcome such stress in a post-COVID world, particularly for those who make their living in the gig economy. He speaks on how feelings of shame and deprivation serve as stumbling blocks on the way to financial wellness.

Dr. Melkumian discusses how we can troubleshoot unproductive money-related behaviors and how to use financial stress as a source of valuable information to help us nurture healthier behaviors going forward.

Key Topics:

• Financial stress and the gig economy (01:33)
• Thinking of how we handle money in the same way we handle our diet (08:16)
• “What is enough?” (11:45)
• The factors which impact our financial behavior (19:19)
• Reducing financial stress via emotional granularity (25:15)

Resources:

• Learn more about Dr. Alex Melkumian at www.drmelkumian.com
• Financial Psychology: Restoring Financial Wellness in a Post-COVID Economy (book)

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