He has built significant wealth, yet a simple drink at dinner still makes his heart race. Mark told "The Ramsey Show" that despite earning about $390,000 a year as a physician in Honolulu, he feels anxious whenever his family spends even a few extra dollars. "I'm worth $7.3 million," he said, yet small purchases still unsettle him. "Man, that extra $3 we could have saved," he said of his reaction when his children ask for an extra drink at dinner. Mark asked hosts John Delony and Jade Warshaw whether he ...

Core Insights - The phrase "Sorry, we can't afford it" can negatively impact children's financial beliefs and attitudes towards money [3][4] - Financial psychologists suggest that this language can lead to financial anxiety and unhealthy money behaviors in adulthood [3][6] Group 1: Impact on Children's Financial Beliefs - Children form core beliefs about money before the age of seven, and negative phrases can frame money as scarce and stressful [3] - Repeated exposure to restrictive language may contribute to feelings of financial anxiety and shame around spending later in life [3][6] Group 2: Alternative Approaches - Instead of saying "we can't afford it," parents are encouraged to explain their spending choices to foster a healthier understanding of money [4] - This approach helps children develop a values-based perspective on financial decisions, potentially preventing overspending in adulthood [4][5]

Core Insights - 48% of U.S. workers believe they need at least $1 million in savings for a comfortable retirement, an increase from 37% in 2024, while only 27% expect to achieve this goal [1] - There is a record-high anxiety among workers regarding the gap between retirement expectations and actual savings, yet 71% still feel somewhat confident about retiring comfortably [2] - Financial anxiety has risen from 71% in 2022 to 90% in 2025, with inflation (65%), credit card debt (40%), and housing costs (31%) being the top stressors [3] Worker Sentiment - 54% of workers have considered delaying retirement, with a higher percentage of women (58%) compared to men (48%) [4] - Generation Z shows the most confidence about retirement (88%) but has significant anxiety about day-to-day finances (73%), while Gen X has the least confidence (61%) [5] - Despite over three-quarters of employers believing their employees are prepared for retirement, less than half of workers share this belief [6] Financial Preparedness - Most workers across generations feel they could work until retirement and still not have enough savings to meet their needs, expressing concerns about debt, major life events, emergency savings, and retirement [7]

Financial Behavior & Psychology - Individuals typically relate to money in three ways: avoidance, micromanagement, or invitation [8][12] - A significant number of women experience financial anxiety even with substantial income increases [9] - Financial balance involves emotional awareness and financial literacy [15] - Managing money from experience rather than fear is crucial [13] Overcoming Financial Trauma - Addressing shame, guilt, fear, and financial trauma is essential for a healthy relationship with money [11][14] - Rewriting one's money story involves firing the "button-up old man" (negative financial influences) [7][18] Financial Planning & Education - Financial education should focus on feeling and experience, not just managing [16] - Integrating emotional awareness into financial planning leads to better preparedness during financial challenges [16]

Financial Anxiety - A millennial planned and saved diligently to purchase her first home, yet experiences intense financial anxiety [1] Homeownership - The report highlights the paradox of achieving a significant financial goal like homeownership while still facing financial anxiety [1]

Financial Anxiety - A millennial planned and saved diligently to purchase her first home [1] - Despite achieving this financial goal, the individual experiences intense financial anxiety [1] Homeownership - The report focuses on the emotional and psychological aspects of homeownership, specifically financial anxiety [1]