Ways to Combat and Reduce Money Shame

Join our #CreditChat on Periscope, YouTube Live, Twitter, and Snapchat every Wednesday at 3 p.m ET. This week we discussed how to combat and reduce debt shame.

The panel included: Dr. Sean Stein Smith: CPA, CGMA, Assistant Professor at Lehman College (CUNY), columnist, and member of the AICPA Financial Literacy Commission; Joining our Twitter panel is Elaina Johannessen: Program Director at LSS Financial CounselingShannon McNay: Writer for Student Loan Hero; Rod Griffin: Director of Public Education at Experian; and Christina Roman: Social Media Specialist at Experian.

We also featured financial tips all week on Snapchat.

Questions We Discussed:

  • Q1: What is debt shame and where does it come from?
  • Q2: How is debt shame destructive?
  • Q3: Debt is not the only financial issue that causes shame. What other money issues can shame attach itself to?
  • Q4: What are some common internal scripts that perpetuate money shame?
  • Q5: How do we identify our money shame triggers, i.e. FOMO?
  • Q6: How do we begin to improve our relationship with money?
  • Q7: This is not a quick fix. How can we track our progress while combating money shame?
  • Q8: How do you approach a spouse or sig. other who is showing signs of money shame?
  • Q9: What resources are available for someone combating money shame?
  • Q10: What final tip do you have for someone living with money shame?

Resources:

How Reliving Past Money Mistakes Hurts Your Financial Future via Wisebread
How to Stop Hating Yourself About Money and Actually Make Positive Changes via Wisebread

If you’ve never heard about #CreditChat, here is a brief overview:

Relevant chats on YouTube: