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Do you feel stressed when thinking about money? You’re not alone. Many people struggle with their finances, but few talk about the emotional side of money. This is where financial therapy comes in – and Rachel Duncan is adding a creative twist.
“Money just is emotional. It’s actually the first line on my website. It just is emotional. So let’s work with it instead of pushing it down,” says Rachel Duncan, co-founder of the Money Healing Club.
As both a financial therapist and art therapist, Rachel helps people heal their relationship with money through creative exercises. This unique approach makes money less scary and more approachable for everyone, especially those who’ve felt left out by traditional financial services.
Why Traditional Financial Advice Often Fails
The financial industry has a problem. For decades, it has focused mainly on investment returns and retirement numbers rather than how people actually feel about money.
Rachel points out this major flaw in our financial system: “Our industry has done a really, really, really, really, really, really shitty job since the creation of it of meeting people where they’re at and connecting their passions, their joys, their experiences to how they can learn money.”
This lack of connection leaves many people feeling:
- Overwhelmed by financial jargon
- Ashamed of their money habits
- Excluded from financial conversations
- Unsure where to start their financial journey
For creative and neurodivergent individuals, traditional financial advice can feel especially alienating. Rachel works with many clients who have been labeled as “irresponsible with money” their whole lives, when they simply need different approaches to financial wellness.
The Problem with “Abundance” and Why It’s Not Helping You
When discussing financial concepts that need rethinking, Rachel doesn’t hold back about her dislike for vague terms like “abundance.”
“My pet peeve is the word abundance,” Rachel explains. “It’s not that I don’t agree with abundance. It’s great. But what are we saying? What are you saying when I just wanna manifest abundance?”
Rachel believes this popular term lacks specificity and often masks deeper issues:
- It’s not specific about income goals
- It can avoid necessary financial planning
- It creates a fantasy that more money means less money management
The reality? “The more wealth we gain, actually the more time you have to spend with it,” Rachel notes. Instead of chasing vague “abundance,” Rachel encourages people to be specific about their financial goals and lifestyle desires.
Two Simple Money Hacks That Actually Work
1. The “Fun Money” Budget Line
One practical tip Rachel and financial advisors like Stoy Hall recommend is creating a specific budget line for guilt-free spending.
“We create a new line item and we call it fun money,” Stoy explains in his conversation with Rachel. This money—whether $20, $50, or $100—is specifically allocated for impulse purchases without guilt.
Rachel enthusiastically agrees: “I have a tab in my spreadsheet called fund money. Love it. Same line. Yes.”
This approach works because:
- It acknowledges our human need for spontaneous spending
- It prevents the shame cycle around impulse purchases
- It gives you permission to enjoy money within boundaries
2. The Gift Card Hack for Impulse Spenders
For those struggling with impulse spending, Rachel offers an innovative solution: “I love pre-purchasing a gift card.”
How it works:
- Buy yourself a gift card with your fun money budget
- When you feel the urge to spend, use only that card
- Once it’s gone, wait until next month
“Plan for the impulse, which kind of seems like a contradiction in terms,” Rachel explains. “You enjoy it so much more. I got a hundred bucks on this thing, I’m just gonna go for it. It’s already spent.”
This approach turns impulsive spending into a game while keeping it contained within your budget.
Try This Powerful Money Journaling Exercise Today
Want to start healing your relationship with money immediately? Rachel shares her favorite journaling exercise:
- Write a letter to money – express all your feelings, frustrations, and questions
- Turn the page
- Write money’s letter back to you
“When you have a direct line of communication with money, its character tends to be really compassionate and kind and creative and forgiving,” Rachel shares. “But also boundaried, won’t put up with your shit, wants to be closer to you, wants to be friends, wants to work together.”
This simple exercise has helped hundreds of Rachel’s clients shift their money mindset and make better financial decisions.
Connect With Rachel Duncan
Ready to transform your relationship with money through creativity? Connect with Rachel Duncan and the Money Healing Club:
By combining financial knowledge with creative approaches, you can heal your money relationship and build a healthier financial future – no matter your background or how you think about money.