Financial Feminist 280. How to Stop Making Emotional Financial Decisions with Dr. Nick
Apr 7, 2026
Dr. Nicole Murray (Dr. Nick), a neuropsychologist who specializes in executive functioning and decision-making, breaks down the brain biology behind emotional money choices. Short takes cover dopamine and urgency, why “I’m bad with money” is a story not a fact, an intensity gauge for decisions, building systems to replace impulse spending, and using self-compassion to rebuild financial habits.
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Pregnant On The Subway Taught Perspective Shifts
- Dr. Nick recounts being eight months pregnant and body-checked on a crowded NYC subway, instantly feeling rage and heat.
- She discovered perspective shift when she saw it was an eight-year-old, which reduced her anger and changed her reaction.
Use An Emotion Gauge Before Financial Choices
- Use an intensity gauge (1–10) to decide if you should act, problem-solve, or step away before making financial choices.
- Dr. Nick: leave at 7+, breathe and problem-solve at 4–6, and ignore 1–3 concerns.
Baseline Emotion Changes Money Behavior
- Baseline emotional intensity skews decisions: chronically high baseline fuels reactive spending; numb baseline causes apathy and avoidance.
- Dr. Nick suggests lowering an 'always eight' baseline and using micro wins to combat apathy via dopamine.