The hidden psychology that helps you build wealth - and why meditating hurts your money

Dr Brad Klontz, co-author of the new book Start Thinking Rich: 21 Harsh Truths to Take You from Broke to Financial Freedom, shares how money beliefs can hold you back. Most of us have been there - you know what you should be doing with money, but you’re not doing it. Why? Well there’s a whole bunch of wiring deep in our brains that can trip us up and sabotage us. That doesn’t mean it’s all a lost cause … it means that you need to take control of your mind, before you truly take control of your money. Follow me, Frances Cook, on Facebook, Instagram and TikTok or join the Money Memo newsletter for a free weekly money tip in your inbox each week. 00:00 - Introduction 01:16 - Dr. Brad Klontz and His Work 02:50 - The Impact of Upbringing on Financial Mindset 04:46 - Locus of Control: Taking Charge of Your Financial Future 10:49 - Privilege and Its Role in Financial Success 13:32 - Shifting Mindsets: If They Can Do It, So Can You 14:16 - The Journey to Thinking Rich 18:37 - Rethinking Job Satisfaction 23:50 - Understanding the Hedonic Treadmill 28:45 - Finding Meaning in Work and Life 33:06 - Connecting Financial Goals to Core Values 36:29 - The Psychology of Spending and Wealth 40:56 - Mediation and Finances 42:12 - The Insecurity Behind Luxury Spending 48:48 - Community and the Importance of Asking for Help 51:55 - The Most Important Key Takeaway