The Psychology of Spending with Amanda Clayman


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Let’s face it, we’ve all had moments of sheer panic regarding our finances.  But no matter how many times you’ve been totally freaked out, have you ever actually sat down to think about how learning to understand yourself better may change the fate of your financial future?

Meet Financial Wellness Counselor and Psychotherapist Amanda Clayman! A totally Fab & Fru lady who knows that the only way to get a grip on your finances is to look at yourself from the inside out.

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Amanda and I met for lunch to discuss our mutually favorite topic – the psychology of money.  I couldn’t wait to hear what advice she had to help our readers get on the path to financial wellness in ‘09!

Amanda approaches the exploration of finances by looking at each individual person and their relationship to their environment.  Her first study was none other than herself…

Like so many women we know, Amanda became who she is today by learning the hard way. As a young Marketing Exec on the fast track, Amanda enjoyed New York City to the absolute max. Like so many of us, she found her personal finances spiraling out of control –the more money she made, the more her debt mounted.  When she hit rock bottom, she was left feeling totally isolated, humiliated, and in a complete panic.

One weekend her Mom came to visit. Amanda was in need of a quick trim but didn’t want to pay salon prices.  Her Mom offered to cut her hair….  But after a snip here and a snip there, Amanda realized her new hairdo needed a professional rescue, and like any of us on a bad hair day – she totally lost it!   Her Mother tried to calm her down by suggesting a ‘fix it’ appointment with Amanda’s regular hairdresser, but Amanda was inconsolable…

Amanda finally confessed.  She was in serious debt!  She didn’t want show her face at the salon because she had bounced a check to them–things had gotten that bad!

As so often happens, our lowest moments can become a blessing in disguise!  This crisis sparked our friend into action.  Over the next eleven months, Amanda examined herself, her fears, her emotional triggers, and the nitty gritty state of her finances.  When those eleven months were over, Amanda had pulled herself completely out of debt!

During her own struggle, Amanda realized the lack of resources available to help people better understand the psychology of money –what triggers them to act the way they do and how they can change.   She decided to transform her triumphant life lesson into a career helping others achieve their own financial well-being.  Amanda returned to school to receive an MSW (Masters of Social Work) focusing on the psychology of money, spending, and financial wellness.

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