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The Long View
Brad Klontz: What's Your Money Script?
Dec 10, 2024
In this chat, Dr. Brad Klontz, a financial psychologist and co-founder of the Financial Psychology Institute, dives into the deep connections between money and mental health. He discusses how consumerism shapes self-worth, particularly among youth. Klontz reveals the impact of social media on our perceptions of wealth and the resulting feelings of inadequacy. He also introduces 'money scripts'—the hidden beliefs that influence our financial habits. The conversation emphasizes the need for emotional engagement with money to foster better financial wellness.
51:06
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Quick takeaways
- Dr. Brad Klontz emphasizes the impact of early familial experiences on financial behaviors, highlighting how inherited money scripts unconsciously drive decisions.
- The podcast explores the categorization of money scripts, revealing how attitudes towards wealth shape behaviors associated with money management.
Deep dives
Personal Journey into Financial Psychology
The speaker describes a personal journey that led to a career in financial psychology, rooted in early experiences with socioeconomic disparities. Growing up in a lower-income household, he developed a keen awareness of wealth differences, which sparked his interest in understanding money-related behaviors. His formative experiences included insightful observations, such as interviewing a friend’s father about financial success and grappling with family issues related to finances. These interactions motivated him to explore the psychological aspects of money, especially following his own financial missteps in investing.
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Discover
highlights
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