Dr. Brad Klontz - How Your Money Beliefs Are Holding You Back

Good Money with Derrick Kinney

Derrick Kinney

Investing, Entrepreneurship, Business

5 • 1.5K Ratings

🗓️ 11 September 2020

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In today’s episode, Derrick Kinney interviews nationally recognized financial psychologist, Dr. Brad Klontz on how your negative views of money can be holding you back in a big way. He shares how the money beliefs you inherit can predict your future financial success.

What You Will Learn:

Many people have a negative perspective of money
Why so many of us view the “wealthy” as selfish
How past experiences influence your money choices
Our happiness with how much money we have has less to do with the amount and more to do with who we’re comparing ourselves to
80% of “wealthy” people are self-made
Why no external thing or amount of money can actually make someone happy
Why humans have a natural tendency to not be satisfied
The most common money disorders people have
How your beliefs you inherited predict your financial future
Our desire to belong has a strong influence on us and what we do
What are practical ways to go from not liking money to successfully building wealth
Why having a financial mentor can have such a positive impact

Inspirational Quotes:

“We have a tendency to disparage people who are different than us, especially when they have something we want.” - Dr. Brad Klontz
“The people who most hate the rich are the people who most desperately want to become rich themselves.” - Dr. Brad Klontz
“Be careful about hating rich people because historically you are in the top one percent yourself compared to the rest of the world.” - Dr. Brad Klontz
“In one study we did the ultra-wealthy had 18 times more money than the middle class but they only spent twice as much on their house, their car, their watch, and their last vacation.” - Dr. Brad Klontz
“Comparison is the thief of joy.” - Derrick Kinney
“Your life satisfaction is entirely subjective.” - Dr. Brad Klontz
“More money just reveals more of the cracks that you have internally. So if you can patch those cracks, with little now you’ll be more prepared to be more satisfied when you have more money.” - Derrick Kinney
“It is incredibly difficult to go from the middle or working class to become wealthy and the biggest part of that difficulty is psychological.” - Dr. Brad Klontz

Recommended Resources:

Mind Over Money by Dr. Brad Klontz
5 Ways Your Resentment of Money is Ruining the World (free download)

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the good money, good money, good hands, good work
0:09.1	podcast where we believe money is not bad and good people should have more of it.
0:14.6	Good money in the hands of good people gets good work done.
0:18.0	I'm your host Derek Kenny.
0:20.3	Did you grow up believing money is bad?
0:23.0	Are you angry since it feels like everyone around you has more money than you do?
0:28.0	You work hard like everyone else, but don't have much to show for it.
0:32.0	Well, help is on the way. Dr. Brad Cloths is a nationally
0:37.0	recognized financial psychologist. He's the guy that helps you understand how your negative views about money can be holding
0:45.4	you back in a big way.
0:47.6	In our time together, Brad shares how the money beliefs you inherited predict your financial success.
0:54.0	And he talks about how much money you need to be truly happy.
0:58.0	His answer may surprise you.
1:00.0	I think you'll enjoy my conversation with Dr. Brad Clonts.
1:04.3	Brad, welcome to the good money, good hands, good work, podcast.
1:08.6	Derek, so excited to be here with you.
1:11.3	I just love the name of your podcast and the tagline. I feel like I'm in the perfect place.
1:17.6	Well Brad, thank you so much. I've been excited to have you on our show because I think you're going to deliver a message to our listeners that they really need to hear.
1:26.6	So let's jump right in.
1:28.4	We appear to be observing a cultural shift that says money is bad, people that have money are bad, and even if you like
1:36.1	money it means you are greedy. Where is this coming from and how do you debunk that?
1:42.0	Yeah it's a really complicated issue.
	...

Please login to see the full transcript.

Next episode

Disclaimer: The podcast and artwork embedded on this page are from Derrick Kinney, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Derrick Kinney and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.