In her new book, "Everything but Money: The Hidden Barriers Between You and Financial Freedom," personal finance expert Jessica Moorhouse delves into the emotional and psychological factors that prevent individuals from achieving financial stability. Through a series of interviews and insights, Moorhouse explores why many people struggle with money despite knowing the right steps to take. Her work highlights the importance of addressing internal and external barriers such as trauma, attachment styles, and societal pressures.

Exploring the Emotional Roots of Financial Struggles

Moorhouse's journey into personal finance began in 2011 when she started her blog to learn how to manage student loans during the Great Recession. Over the years, she transitioned from marketing to founding her own financial education company. In this segment, we examine the emotional roots that influence financial behaviors. Moorhouse emphasizes that the challenges people face with money often stem from deeper issues unrelated to financial literacy or income levels.

Many individuals experience shame associated with their financial situations, which can be incredibly destructive. This feeling of inadequacy can freeze people in place, preventing them from making progress. Moorhouse's book helps readers identify the origins of their financial shame, enabling them to detach these feelings from their monetary decisions. She stresses that self-worth should not be defined by financial success alone. Instead, individuals must recognize that they are more than their bank accounts. By acknowledging this, readers can begin to build healthier relationships with money, free from the burden of unnecessary guilt.

Addressing External Pressures and Trauma

Beyond internal struggles, Moorhouse also addresses external pressures like FOMO (Fear of Missing Out) and financial trauma. While FOMO is commonly cited as a reason for overspending, Moorhouse suggests that it's often a symptom of deeper emotional needs. People may use spending as a way to cope with unresolved issues or seek validation. Understanding these underlying causes can help individuals develop healthier coping mechanisms.

Financial trauma, caused by events such as layoffs or evictions, can have lasting psychological impacts. Even witnessing parental financial struggles during childhood can leave lasting scars. Moorhouse explains that while increasing income or reducing expenses can address the financial aspects, true healing requires therapy. Only by processing these traumas can individuals move past them and achieve genuine financial freedom. Additionally, she notes that discussing money remains a taboo subject for many, despite the growing number of personal finance voices online. Her book aims to reach those who might feel intimidated by traditional financial advice, offering a compassionate approach to building better money habits.