Overcoming financial fears: Wealth coach touts 'tapping' method
FARGO – Laurie Hanson had wanted to retire for years, but she was scared she and her husband couldn’t afford it.
Then her longtime friend, Teri Bach, told her about a wealth coaching technique she was learning, and asked Hanson if she would be her guinea pig.
Hanson, of Pelican Rapids, Minn., was a skeptic when Bach explained “Tapping into Wealth,” which focuses on a person’s emotions and self-limiting beliefs around money, and clears those blocks by tapping on acupuncture points with two or three fingers.
“I thought it was strange,” Hanson said, but she agreed.
At Bach’s prompting, Hanson would repeat phrases – both her existing negative thoughts and their positive counterparts about taking financial risks – while tapping on points like her head, eyebrow, chin and collarbone.
“After maybe the second time we tapped and did our hour sessions on the phone, I just totally changed,” Hanson said. “I don’t totally understand how it works, but I’ve got this attitude now that money isn’t as big of a deal to me. No matter what, I can make it.”
Hanson, 59, retired from the U.S. Postal Service at the end of March.
“If you believe positive things can happen, positive things happen,” she said. “Everything has fallen in place.”
Bach lived in California and worked as a marriage and family therapist for two decades before recently moving back to Minnesota.
She used tapping, an “Emotional Freedom Technique,” in that practice, but the concept really clicked with her when she discovered “Tapping into Wealth” by Margaret Lynch.
She’s now an authorized “Tapping into Wealth” coach.
Bach first leads clients through a money map, an overview of what’s going on with their money. Clients list five kinds of money: their savings, debt, income, income goals and “toxic money” – money they may be owed to them or is somehow contested.
She doesn’t need to know what the dollar amounts show. She’s interested in how those numbers make her clients feel and in the thoughts they have.
“What matters is the programming,” Bach said. “By the time you’re 6 years old, your whole parents’ paradigms about money have been downloaded into you.”
For example, growing up in a family where there isn’t enough can create a mindset that there is never enough or that you can’t get ahead.
“Imagine what that does to the energy around money,” Bach said.
Each kind of money is wired to an area of life. For example, savings is connected to loss, she said. “If you have a lot of loss in life, it makes it difficult to save.”
Bach said she wants to “bring up the heat” on the past issues that may be holding people back in their finances.
“When things come up for people, I will just tap on that with them,” she said.
The first half of sessions, which are done over the phone or via Skype, is clearing those limiting beliefs, and the second half is empowering the client to stretch out of their comfort zone.
Bach notes there’s not a shortage of information about getting out of debt. This gets to the underlying, unconscious factors behind it.
“The wiring creates the debt you have,” she said.
Tapping disconnects thoughts about money from the body’s automatic response system, Lynch writes.
Bach wants to focus her work on women entrepreneurs, who often have a self-imposed glass ceiling that keeps them from thinking big, she said.
“It’s not just about money. It’s about life and business,” she said.
Hannah Sorensen, a financial representative for Thrivent Financial, said emotions are definitely a huge topic. She sees it with clients.
“Sometimes they get hung up on a certain area. They get really focused on one thing. Maybe it’s debt. And they forget about all their other goals,” Sorensen said. “I’ve seen people that feel like there’s never enough money, whether that came from their parents talking about it.”
She said she tries to talk clients through those thoughts and where they come from. Sometimes showing them interest calculations can change their thoughts and feelings.
“Some people may have some things that are so deep that they may need to deal with that before they can even think about the numbers,” Sorensen said.
Teri Bach can be reached through her website: