Why You Need To Get Rid Of Your Money Baggage

Have you been hauling around baggage since childhood filled with 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.

Dr. Klontz is the Founder of the Financial Psychology Institute and an Associate Professor of Practice in Financial Psychology at Creighton University Heider College of Business.

Along with:

Managing Principal of Your Mental Wealth Advisors
A Fellow of the American Psychological Association
And a Former President of the Hawaii Psychological Association.

He was also awarded the Innovative Practice Presidential Citation from the American Psychological Association.

Raised on the belief that you shouldn’t take on much debt, Dr. Klontz had a difficult time psychologically when he found himself deep into student debt after getting his doctorate degree.

That, ultimately, put him on the path to Mental Wealth.

3 out of 4 Americans say money is in the top 2 most stressful things in their lives. So, as a nation, we are very stressed about money which is ironic given that we are one of the wealthiest nations.
Dr. Brad Klontz

On Today’s Show

Dr. Klontz talks about money scripts—a subconscious belief that we have about money and the four categories they fall into:

Avoidance—having a tendency to self-sabotage when you start to have a successful business, or come into money.
Worship—the belief that more money is going to make you happier.
Status—is all about keeping up with the Joneses.
Vigilance—usually associated with having more money, these people believe it’s important to save for a rainy day.

Therapy session is also in for Mark & Scott as Dr. Klontz helps them work though their own money baggage and sets them on the path to Mental Wealth!