Psychology of Wealth Thinking: 3 Tips to Expand Your Financial Comfort Zone

Psychology of Wealth Thinking: 3 Tips to Expand Your Financial Comfort Zone


Are you stuck in a financial rut? Do you
want to make more money, grow your business, or achieve a breakthrough goal? Well unless you expand your financial comfort zone you’re likely to say stuck
right where you are in this video we talk strategies for
elevating your financial game and achieving your goals plus I’m going to
give you three tips for expanding your financial comfort zone coming up hey I’m
Dr. Brad Klontz on this channel we look at the best strategies to help you
transform your relationship with money Master the psychology of wealth and live
a life of abundance so check out the links and the resources in the show
notes below and if you’re new here consider subscribing so let’s get
started I’ll never forget the day I was in Chile where I’d been for several
weeks and I ran into another American wow I got to tell you I felt an instant
sense of relief after spending weeks interacting with people from a different
culture here I was with with really a total stranger but I felt an instant
connection we shared the same language the same nonverbal gestures and the same
general understanding of the world it felt so comfortable that experience
really Illustrated for me how deeply I’m attracted to people well well like me
and even though I went through a lot of effort to expose myself to a different
culture it taught me how stressful it is to learn to operate in a new culture at
times it felt exhausting and like my brain hurt as I was trying to take it
all in and I felt a pull to what was known and familiar the stress involved
in change combined with the comfort of staying with the familiar are very
powerful forces unless we push ourselves we have a tendency to stay right where
we are even when circumstances aren’t great at least they’re predictable and
familiar so how does this tendency to stay in our comfort zone doing what is
known and comfortable how does this impact our financial lives quite
profoundly it turns out socioeconomic status is a huge part of a person’s
identity have you ever been to a party and realize that most of the people in
the room had much more money than you did did you feel out of place or
uncomfortable did you even question your right to be there it’s stressful when we
move away from what feels normal for example if we start making a lot more
money than our friends it increases our anxiety and we worry what will they
think about us will they treat us the same will they judge us when
gap widens even further it can make simple things like who pays for dinner
or traveling together very hard it can be so uncomfortable for people to move
to a higher socio-economic group that they end up sabotaging themselves they
don’t have to deal with being too different or being kicked out of their
group as a result there is huge psychological pressure for us to stay
right where we are this helps explain why so many lottery winners professional
athletes and entertainers blow their money they feel that they’re undeserving
or guilty about making more than those they love in fact research shows that
instead of being totally stoked after making tons of money quickly months and
years after the fact many feel quite lonely or depressed so if you want to
increase your net worth or income you’re probably going to need to learn a new
approach for example if you wanted to learn more about investing how helpful
is it going to be to talk to your Uncle Bob who’s never invested himself Uncle
Bob is very likely to tell you how difficult or impossible it is if you
want to write a book someday talk to a published author about how to do it if
you talk to your friends Sheila for her advice Sheila who’s never written a book
it’s possible she might chuckle or roll her eyes at you or give you that feeling
who do you think you are when the people around you the people that you love
believe something’s impossible it’s very difficult to achieve the goal it’s much
better to talk to somebody who’s already achieved it or is further along the path
than you are they know it’s possible and they can point you in the right
direction so if you want to make a quantum leap in your finances your
business or other goals you need to expand your financial comfort zone so
here are three tips for expanding your financial comfort zone tip number one
make yourself uncomfortable if you want to make more money like you’re
considering charging more for hourly services or asking for a raise think
about what number you’re comfortable with seriously go ahead pause the video
and do it now okay do you have it now go ahead and double it feeling
uncomfortable yet good if you want to make more money you need to start
thinking differently now I’m a big proponent of being reasonable with the
caveat that I don’t think you should trust what you think is reasonable so do
some research and look what other people are getting paid in your field and start
with a higher number than feels comfortable
for example I put a ton of effort into becoming a good public speaker how am i
doing I spent years practicing and giving free speeches yes giving free
speeches I wanted to make sure people felt great paying me to speak so it was
important that I did whatever I could do to become great and I definitely put in
the time over the years I’ve raised my speaking fees about five times now
here’s the truth each and every time it is so difficult I worry that people will
block will think who does this guy think he is or that I’ll never get any
business again however this hasn’t happened man I should probably increase
them again with each increase I actually had to spend time practicing saying the
number out loud in private of course and I definitely made sure I did my market
research but I work hard and I still work hard to not let that internal who
do you think you are voice keep me stuck so take a risk and make yourself feel
uncomfortable tip number two get a mentor oh yeah and start local now I say
start local because don’t go sending Tony Robbins an email and get all
discouraged when he doesn’t meet you for coffee he’s a busy guy and he doesn’t
know you but nowadays you can start by listening to podcast watching YouTube
channels like this one and reading books when I wanted to increase my value as a
public speaker I read several books written by professional speakers and I
picked the brains of people who are at the top of their fields speaking for
money but my favorite approach is to find someone who is a step or two ahead
of you whose brain you can pick you need to learn what they know their beliefs
about what’s possible and their strategies these people are often in
your life are ready or maybe the friend of a friend perhaps it’s your boss at
work or a successful aunt or uncle ask this person to coffee and pick their
brains how did they get where they are what do they wish they had done
differently what piece of advice would they give someone at your stage of the
game you’ll be surprised at how receptive mentors are to sharing their
wisdom and experience with you then as you grow find new mentors and learn from
them tip number three get help in one of our studies on the psychology of wealth
we found that when compared to middle-class folks the wealthy are much
more likely to admit that they don’t know things and to have a team of
professionals to help them this can be so hard for people who didn’t grow up in
a culture of wealth for the wealthy it’s a no-brainer that you’re going to have a
financial advisor a business an attorney or CPA however for us to do
it yourself descendants of farmers the idea of
outsourcing anything can seem expensive or downright lazy but it is critical if
you want to join the ranks of the wealthy now I know what you’re thinking
I can’t afford these people so let me be clear you don’t need to hire them as
full-time staff but paying an attorney or CPA a few hundred dollars for an hour
two of their time before you set up your business is likely to save you thousands
of dollars later so don’t hesitate to hire some help along the way I have
found it worth every penny. Question of the day, what strategies have you used to expand
your financial comfort zone to take your financial business or other goal
achievement to a whole new level special thanks the Heider College of
Business at Creighton University for helping sponsor this channel if you like
this video and want to see more like it please subscribe and hey make sure to
check out the show notes below for links and resources that can help you see you
next time

9 Comments

  1. Dr. Brad Klontz says:

    What strategies have you used to expand your financial comfort zone to take your financial, business, or other goal achievement to a whole new level?

  2. Riplion Busby says:

    I like the intro and nice editing. I understand what its like missing talking to those from your own culture as a European living in Texas!
    I am actually weird i love change, but i am a bit of a gypsy. I have known a lot of very affluent people and i do agree there are a lot of unhappy rich people out there.

  3. A Sido says:

    Excellent video. Very good points. Many thanks

  4. Olivia K Mani says:

    Thought you'd be a great mentor.

  5. anurag jha says:

    Great Content! As a public speaker what are the options to speak and earn and how to tap into those opportunities?

  6. Dayal Ghosh says:

    How to overcome baldness. It will be useful if you can make a video on this.

  7. Swathi Bhardwaj says:

    Thank you 😊

  8. Spiritual Rebel Yoga says:

    Thanks! Great video! Useful tips!!you're great!!

  9. Olya Coco Clonts says:

    “Feeling uncomfortable yet?! — Good! “ – 🤣🤣🤣🤣

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