Book

Wired for Wealth: Change the Money Mindsets That Keep You Trapped and Unleash Your Wealth Potential

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Abstract

Wired for Wealth shows you that the biggest threat to your financial health is not a recession; it's your brain. Markets go up and markets go down, but one fact holds true: Your money scripts―the unconscious core beliefs you hold about money―will determine whether you win or lose in the long run. But there is hope. Drawing on the results of a landmark survey of people's money habits, as well as their decades of work improving their clients' financial lives, renowned financial psychologists Drs. Brad Klontz and Ted Klontz and financial planner Rick Kahler, CFP® show you how you can rewire your brain for wealth. Their unexpected insights show you how you can free yourself from excessive debt, financial stress, money avoidance, and a lack of savings. You'll discover: •The top 10 money scripts that mess up people's financial lives―and how to change them •How to identify your 'financial comfort zone'―and how to break through it •How to curtail family money issues, including financial infidelity, financially dependent children, and conflicts over money •What to do if your money scripts are keeping you poor by overspending, underspending, excessive debt, lack of savings, and lack of retirement planning •What to do if your money scripts keeping you poor in spirit―how to release guilt and fear for good, and be at peace with what you have. Entertaining and enlightening, Wired for Wealth will put you in control of your finances and enable you to break through to new levels of wealth and security.
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Financial matters have been identified in the literature as a significant source of stress for individuals and families. However, little is known about the psychological issues related to money that may be contributing to individual and family problems. Using a sample of 422 individuals who identified their level of agreement on 72 money-related beliefs, this study identified four distinct money belief patterns. Three of these belief systems were significantly correlated with income and net worth. Demographic features associated with the four money belief scales are provided. The results of this study may be useful for practitioners interested in quickly and accurately identifying money beliefs in their clients that can have a negative impact on financial health.
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