People who follow the script prioritize outward displays of wealth, and they often end up with a lot of debt. Can people learn to combat this grip rat? One study that we did saw people from an ultra networth group, and we compared them to a middle class group. They had about 18 times more money, but they only spent twice as much on their watch, their house, their car and their last vacation.
Money worries are one of the biggest sources of anxiety in the lives of Americans. This week, we kick off our new "Money 2.0" series with psychologist Brad Klontz. He says that while external economic forces often shape our financial well-being, our unconscious beliefs about money also contribute to how well we manage our money.
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