“Money Stories”: 5 highlights from Kelley Long & Jacqueline Howard
Explore the connection between financial health and mental wellness, and how to manage them, during this new Calm Conversation with Ally’s Head of Money Wellness
It will probably come as no surprise that financial stress can take a huge toll on your mental health. Endless bills, unexpected expenses, and (still) trying to figure out exactly how taxes work are just a few of the stressors around money that can wear you down.
And while no one can erase the very real financial challenges you may face, it is possible to ease some of this constant stress as you start to understand the connection between your finances and mental wellness. By focusing on effectively managing your money and improving your financial health, you can also enhance your mental wellbeing.
In this Calm Conversation, Kelley Long, the author and narrator of Calm’s “Navigating Financial Stress,” speaks with Jacqueline Howard, Ally’s Head of Money Wellness, about the connection between financial health and mental wellness. They explore how money psychology and financial literacy relate to mental health as well as the importance of self-compassion in dealing with financial anxiety. Long and Howard also share practical tips for managing financial challenges and offer valuable insights for achieving financial freedom.
Watch the full conversation
5 key highlights from the conversation
1. Cultivate financial awareness
Understanding your financial habits is essential for managing stress effectively. Start by reflecting on your spending patterns and considering how they may affect your emotional wellbeing. This practice can give you valuable insights into the connection between your financial behaviors and mental health. Don't hesitate to engage in open discussions about financial health with friends, family, or professionals; doing so can deepen your understanding and provide support as you navigate your financial journey.
2. Know your “Money Story”
Everyone has a unique “Money Story” shaped by personal experiences and upbringing. Reflecting on your early memories of money can help you understand how these experiences influence your current financial behaviors. By recognizing the origins of your financial mindset, you can empower yourself to make positive changes and approach your finances with more confidence.
3. Embrace self-compassion
Financial journeys can be challenging, so it’s important to approach them with empathy and understanding. Practicing self-compassion means recognizing that making mistakes is a normal part of the learning process. Instead of criticizing yourself for past decisions, try to focus on what you can learn and how you can grow from those experiences. This shift in mindset can significantly reduce financial anxiety and help you develop a healthier relationship with money.
4. Practice open communication
Navigating finances can affect relationships, so it’s vital to communicate openly about financial goals and challenges. Make it a point to have regular discussions about money with your partner to ensure you’re on the same page. Additionally, talking to your children about finances can help establish healthy money habits early on, setting them up for a successful financial future.
5. Get organized
Taking time to set up a system to help you organize and budget your money can go a long way towards improving your financial situation. You could create separate savings buckets for different goals, which can simplify saving and reduce stress. You might also consider using tools like a round-up feature, which allows you to save effortlessly as you make purchases. Remember, even small savings can add up over time, giving you a greater sense of control over your financial future.
For a limited time, Ally’s providing 3 month free trials of Calm Premium to help people further explore how personal 'Money Stories' influence financial habits, mental health, and overall wellbeing.
Additional Resources:
Listen to the “Navigating Financial Stress” Program on Calm
Navigating Financial Stress Leverage mindfulness tools to manage anxiety, reframe uncertainty, gain perspective, and ultimately improve your relationship with money and yourself.
About Kelley C. Long, CPA/PFS, CFP®
Kelley C. Long is a financial wellness coach, personal finance writer, and host of the Financial Bliss with Kelley Long podcast. With a unique blend of money psychology and financial planning strategies, Kelley has empowered nearly 3,000 individuals and couples to achieve financial independence, believing that true financial freedom means making life choices for reasons beyond money.
Her expertise has been featured in major U.S. publications, including the Wall Street Journal, and she has appeared on numerous morning news programs, sharing valuable financial wisdom and tips. Kelley is also the author and narrator of Calm’s “Navigating Financial Stress” program, which encourages individuals to leverage mindfulness tools to manage anxiety, reframe uncertainty, gain perspective, and improve their relationship with money and themselves.
About Jacqueline Howard
Jack Howard is the Head of Money Wellness at Ally, where she leads program strategy and execution for Money Roots, a free financial wellness program that helps people uncover how their money mindset impacts their spending, saving and investing decisions.
Previously, Jack served as the senior director of Wealth Advisors Operations for Ally Invest and was also responsible for the Ally Invest Inclusive Wealth strategy. Before joining Ally Invest, Jack was the senior director of Ally Corporate Citizenship.
Recognized as a change-maker and advocate for financial social inclusion, Jack has been featured in prominent media outlets such as CNBC, Yahoo Finance, Essence Magazine, Forbes. Most recently she served as a Money Wellness coach in Side Hustlers, a reality series which debuted on the Roku Channel in March 2024.
Jack was recognized as a 2022 Outstanding Alumni by the Communications Arts and Sciences College of her undergraduate alma mater, Michigan State University. She holds a Masters in Communications Management from S. I. Newhouse School of Public Communication at Syracuse University and a Financial Health and Wellness Graduate Certificate from the School of Financial Planning at Texas Tech University. She serves on the national board of directors for the American Bankers Association Foundation and Society for Financial Education and Professional Development, and the Boys and Girls Club of SE Michigan.
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