How to Save More and Spend Less—The Psychology of Money

The Rachel Cruze Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.8 • 3.6K Ratings

🗓️ 14 September 2020

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Control starts with clarity. That's why you need to understand the psychology of money if you really want to save more and spend less. In this episode, I’m talking to psychologist and author Marcus Buckingham about how psychology, fear and our own brains impact our money decisions. Resources: Tuft & Needle: https://bit.ly/3cwWAy1 Zander Insurance Connect with Marcus Buckingham Get my new book, Know Yourself, Know Your Money Sponsors pay the producer of this show, The Lampo Group, LLC, advertising fees for mentioning their services or products during programming. Advertising fees are not based upon or otherwise tied to any product sale or business transacted between any consumer or sponsor. The following sponsors have paid for the programming you are viewing: — Zander Insurance — Tuft & Needle

Transcript

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0:00.0	Change your relationship to fear and you'll change your relationship to money.
0:06.9	Psychologist Marcus Buckingham is here.
0:10.3	Don't fight fear and say it's bad.
0:12.1	Instead, use it's narrowing function.
0:15.2	Money's a tool to help you create a life that you love.
0:18.0	So use it as that tool.
0:19.0	Don't use it as the means to the end.
0:20.4	In a sense, you're using the narrowing power of fear to reveal you.
0:26.4	Hey guys, welcome to another episode of the Rachel Crucio podcast.
0:32.5	So glad that you're here.
0:34.5	And I'm really excited about today's episode because this topic is really near and dear
0:38.3	to my heart.
0:39.3	I've been wanting to share this for a while so I cannot wait to share it with you today.
0:43.5	And that is the psychology of money.
0:45.6	So how we behave with money is so important.
0:48.6	So in order to be successful with money, it's not about your IQ.
0:52.9	It's not about how smart you are.
0:54.5	It doesn't matter if you got straight A's in high school.
0:57.2	It doesn't matter.
0:58.2	Any of that you guys are if you're good at math, whatever it is.
1:00.6	Honestly, to win with money, you have to change your behavior.
1:05.3	That is so, so crucial.
	...

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