
In this episode of Five Minutes to Finance Well, we look into the surprising truth that wealth doesn't always translate into financial wellness. Despite possessing substantial wealth, many people still struggle with financial trauma, fear of loss, and unhealthy money habits.
We'll discuss how these psychological aspects impact their lives and provide guidance on how a healthier relationship with money can be achieved through mindful spending .
Join the conversation and reach out to Beth (@financeherwell) to share your own money challenges.
00:00 Introduction to Financial Wellness
00:15 The Surprising Truth About Wealth and Financial Wellness
01:20 Psychological Traits of Wealthy Individuals
01:49 Fear of Loss and Financial Anxiety
02:21 Money as a Defense Mechanism
03:13 Survivor's Guilt Among the Wealthy
04:03 Mindful Spending and Financial Therapy
05:23 Reframing Your Relationship with Money
05:59 Conclusion and Viewer Engagement