50: Cultural Finance: Kinga Mnich Shares Her Emotional Relationship with Money
Kinga Mnich is a social psychologist who has lived on three continents whose first money memories were related to growing up in a refugee household. In this podcast, she shares the cultural finance differences based in various locations, how her relationship with money has changed over time, and why she believes higher education should be free.
Cultural Finance
Our relationship with money, while being highly personal, is strongly influenced by our cultures. The way we relate to money is impacted by what our culture says we should—or shouldn’t—be spending our money on or saving our money for.
Takeaways on Cultural Finance & Emotions and Money
Culture of Values Kinga’s family valued travel and education and spend accordingly. In the U.S., there’s a culture of prioritizing consumerism whereas in Europe, there’s a higher priority on education. Consider your personal values and what makes the most sense for you to spend money on.
Looks are Deceiving We often assume that the things people have are a reflection of their financial abilities. But as Kinga pointed out with her car that’s beyond 200k miles. I mentioned in the pod a difference between Germans and Americans and found a stat to back it up: Germany has some of the lowest rates of homeownership; 43% compared to 68% in the United States.
Financial Guidance What’s a credit score, why it’s important, understand the “why” before purchasing something on a whim. Get help if you aren’t sure what your relationship with money is.
More about Dr. Kinga Mnich
Kinga is an impact coach for multi-passionate women, specialized in positive-psychology and emotions. With over 10 years of experience in coaching and a Ph.D. in social psychology, she is helping women to avoid overwhelm, get unstuck and create the right building blocks for a successful business. Her curiosity for cultures has brought her to over 40 countries. As a business professional and academic, she researches the benefits of practices of emotions in leadership, entrepreneurship, and group dynamics. She made her mission to help people transform their life and business through understanding emotions and the practice of it, as well as using positive psychology to create a growth mindset. Kinga runs the “Focus to Finish” 90-day incubator to help multi-passionate entrepreneurs get out of their own way! You can find Kinga on her website or Instagram @kinga.mnich