Financial expert Nicole Lapin’s new daily podcast, Money Rehab, examines people’s dangerous money habits
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April 5, 2021 5 min read
When thinking about reasons to go to rehab, you usually think of drugs, alcohol, or other forms of encore. But … there should be rehab for money?
New York Times Most sold Finances expert Nicole Rabbit says yes – and it’s the theme of her new daily podcast, Money rehab with Nicole Lapinthat just debuted on iHeartMedia. The way she sees it, financial problems need to be taken just as seriously as anyone else, but people often lack the tools and expertise to solve them on their own. She wants her new podcast to act like a daily dose of financial therapy as she answers the toughest questions of listeners and speaks to experts who can shed light on the darkest corners of financial despair.
Lapin is the author of the best-selling books Rich bitch, Boss bitch, and Become a super womanand was previously an anchor CNN and CNBC. (Full disclosure: She’s also a close friend, and we hosted the podcast together Hush money Here, Lapin explains why many people could use a trip through money rehabilitation – and why she is willing to share her personal money problems first.
“Rehab” is a loaded word that people don’t usually associate with finance. Why do you think people need money for rehab?
Well, we can have dangerous habits with money as well. We all have money problems and the only ones that can’t be fixed are the ones you don’t admit you have. So this is the first step to recovery regardless of the money.
The first step in a 12-step program is to admit that you have a problem. How hard is it for people to admit they have a money problem?
We’ll talk about anything and everything before we talk about money. People consider it taboo to talk about sex or politics. No way! The stuff is easy. Money is one of the few taboos we still have. The way to fix that speaks of it, of course. But it is not that simple. Nobody wants to go first. That’s why I follow the “I’ll show you mine if you show me yours” approach when talking about money. If anyone has to go first to resolve this taboo that ultimately fixes people’s money problems, then let it be me.
You are known as a financial expert. I think people might be surprised that your finances were once a disaster.
I’ve all had money problems. I went broke fault, live paycheck to paycheck. I’ve messed up everything you can think of with my finances and in business. I’m an immigrant daughter, so the only education I had regarding growing up money was green cash register. And forget it … none of us learn this stuff in school. I didn’t know what mortgage was until after college. I am the least likely person capable of creating wealth on my own, much less teaching people about it. I went through my own “money rehab,” though it wasn’t called that at the time, and took myself to the other side, made more money than I had ever thought possible, and became the least likely person to be one Became an expert in it for other people.
Her Money Rehab podcast is the first ever daily money show on iHeartMedia and comes at a time when many people are still picking up the bits and pieces of their pandemic-related financial disasters. Where did the concept for this show come from?
I didn’t pool my personal finances to do a show. I did it to stay alive. I did it out of a need to get out of the fiery mess or debt and bad money habits. But now that I’m no longer in the fire, I just want to bring back buckets of water for those who are still caught in the flames, so to speak. I want others to have a cheat code that I wished for so that it doesn’t take them so long to get to the other side. I hope I can help others be faster than me and not make the same mistakes by being honest about my mistakes and being straightforward about how personal finances work.
How are you going to do that?
The format of the show is call-in, which answers audience questions. I will also invite listeners on the show for financial intervention. I will also interview financial insiders such as IRS Accountants and debt collectors for their confessions and juicy secrets. This will show others who are fearful and intimidated by money that they are not alone. Second, we often suffer more in imagination than in reality. Confronting these issues that terrorize us in our own minds makes them less frightening.
“Money Rehab with Nicole Lapin” starts April 5, 2021. You can download the show via the iHeartRadio app or anywhere you get your favorite shows.