Why You Need To Get Rid Of Your Money Baggage

The Art of Passive Income

Mark Podolsky

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5 • 681 Ratings

🗓️ 1 August 2019

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Have you been hauling around baggage since childhood of your parent’s perception of money? It’s time to let it go and take on a more sophisticated outlook. Joining us on The Art of Passive Income is Dr. Brad Klontz—a financial psychologist who helps raise public awareness around issues related to financial health and financial psychology. He is the Founder of the Financial Psychology Institute and an Associate Professor of Practice in Financial Psychology at Creighton University Heider College of Business. He is a Managing Principal of Your Mental Wealth Advisors, a Fellow of the American Psychological Association, and a Former President of the Hawaii Psychological Association. Dr. Klontz was awarded the Innovative Practice Presidential Citation from the American Psychological Association for his application of psychological interventions to help people with money and wealth issues and his innovative practice in financial psychology for practitioners across the country. Raised on the belief that you shouldn’t take on much debt, Dr. Klontz had a difficult time psychologically when he found himself deep in student debt after getting his doctorate degree. That, ultimately, put him on the path to Mental Wealth. Today, Dr. Klontz is going to talk to us about money scripts—a subconscious belief that we have about money and the four categories they fall into: Money Avoidance—having a tendency to self-sabotage when you start to have a successful business or come into money like a lottery win. Money Worship Belief—the belief that more money is going to make you happier and it’s going to solve all of your problems. Money Status—is all about keeping up with the Joneses. Money Vigilance—usually associated with having more money, these people believe it’s important to save for a rainy day. Dr. Klontz also helps Mark & Scott with their own money baggage and sets them on the path to Mental Wealth! TIP OF THE WEEK Mark: Learn more about Dr. Brad Klontz at YourMentalWealth.com. You will find a plethora of information there. Scott: Check out Wisebooks.io to see what books well-known people recommend. Dr. Brad Klontz: Check out my YouTube Channel to explore tips and strategies. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

Transcript

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0:00.0	Do you have solo economic dependency?
0:03.2	That is, if you aren't working, you aren't making money.
0:06.6	The art of passive income podcast is the solution.
0:10.3	Discover passive income models so you can enjoy life on your own terms.
0:15.2	Let freedom ring.
0:17.6	Hey, it's Mark Pinooski, The Land Geek,
0:19.6	your favorite nichee real estate website, www. www, the Latin Geek, with your favorite niche real estate website,
0:21.4	www.w.w.com. And I'm really super excited about today's guests for a number of reasons.
0:31.2	But before we talk to today's guest, I'd be remiss if I didn't properly introduce my co-host,
0:39.2	the professor, the brain,
0:47.3	you know him, you love him, Scott Todd from Scott Todd.netlandmodo.com. And most importantly,
0:53.0	if you're not automating your Craigslist and your Facebook postings, posting domination.com forward slash the land geek. Scott Todd,
0:55.5	how are you? Mark, I'm great. How are you? I'm really great and I'm really excited for today's
1:02.1	guest and I've got lots of questions because I'll tell you, Scott, I grew up hearing a certain
1:09.7	money script.
1:14.9	And if I asked my parents about it, they've said, no, we didn't say this to you. But somehow I've internalized the fact that there isn't enough.
1:22.1	Or it's, you know, those nice things are good for those people, but we don't need that stuff, right?
1:30.0	That's showy, right?
1:32.1	So to this day, like, I have a hard time buying myself something, but I have the answer.
1:39.8	It's Dr. Brad Klontz.
1:41.9	He is the founder of the Financial Psychology Institute. He's an
1:45.7	associate professor of practice in financial psychology at Creighton University, higher college
	...

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