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

by Brad Klontz, Ted Klontz, Rick Kahler

Recession-Proof Your Mind and Rewire Your Brain for Wealth As financial stress mounts and an economic crash looms, 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(R) 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.

Genres: Money, Finance, Psychology, Business

267 pages, Kindle Edition

First published December 9, 2008

Reviews

[Dustan Woodhouse · Rating 4 out of 5]

Lots of excellent suggestions and no doubt very worthy exercises if applied.

If applied.

You’ve got to be ready for change, otherwise there is no point in taking the time to read this book. It contains actionable steps. How many will take action though?

[George · Rating 5 out of 5]

Great book.

Interesting how one's beliefs and childhood experiences can have a major impact on their financial habits. I really enjoyed the chapter on teaching children about Money i.e. what you do speaks louder than what you say.

[Elisabeth Gray · Rating 4 out of 5]

That's my once a year financial book read! I really enjoyed this because most books go over the same territory but this was about how the way you feel about money effects your wealth. I found it interesting and informative and has left me feeling more confident about the future.

[Andrew · Rating 1 out of 5]

Not worth the effort. Offers nothing realisable. 😔

[John · Rating 4 out of 5]

This is a not bad strategy for gaining a bit more perspective about how we, as humans, intertwine our personal finances with learn and ingrained behaviors about money.

That being said, and with respect to what the authors are trying to accomplish—I assume it is enlightenment of personal financial problems and how to ‘re-wire’ our brains to overcome the bad behavior at the root of the issue(s)—the authors get very specific in their examples. Rather than discuss shortcoming from the lacking of a desired principle, some of the stories a bit over-specific.

One section that was enlightening, and that I can use with my clients, it the comfort zones. Also, very relatable is the either outgrowing, or not reaching the level of the family. I have had discussions with clients and they fall into one or both of these categories.

Where I believe they get too specific is in the financial genealogy. First off, as someone who enjoys genealogy and can name all eight of my great-grandparents, I am not sure I know enough of the money tendencies of anyone except my parents and father’s parents. This leave a bit too much for speculation. Now, this does not mean it is not a useful exercise, but may provide limited insight unless a close family relationship exists.

[Eleftheria · Rating 5 out of 5]

Βασισμένο σε έρευνα κι όχι μόνο σε εμπειρία, σίγουρα το αποτέλεσμα είναι αποκάλυψη για τους ειλικρινείς και φιλότιμους αναγνώστες. Αν και είναι νωρίς, είναι από τα αναγνώσματα που προσφέρουν γνώση χωρίς επιστροφή.

Ακόμη κι εντός κρίσης ή ειδικά εντός κρίσης, ποτέ δεν είναι αργά να αναλάβουμε την ευθύνη της οικονομικής μας αντίληψης και των συνεπειών της κι αν δεν μας αρέσει να την αλλάξουμε.

Το συγκεκριμένο βιβλίο θεωρώ ότι είναι ένα πολύτιμο εργαλείο τόσο για την συνειδητοποίηση του παρόντος όσο και για την επίτευξη του επιθυμητού μέλλοντος.

[Halpern Financial · Rating 4 out of 5]

A great behavioral finance read with actionable steps to help you change the "Money Scripts" that govern your financial behavior (whether you want them to or not). This book uses cognitive behavioral psychology techniques to help re-train your brain to identify problematic "Money Scripts" and change them for the better.