A Rich Money Mindset, Integrity, Financial Emotions, and Your Money Nerve:
Bob Wheeler helps listeners conquer their money shame and avoid making poor financial decisions by teaching how emotions can dictate our choices.
As a man of true integrity with infectious energy, Bob’s crusade for personal growth has cross-pollinated with his accounting practice to create a new approach to personal finances. His passion is to help others gain insights into how their emotions trigger financial decisions. Combining finances with behaviors, Bob explores his personal concept of creating a healthy relationship with money in his recent book, The Money Nerve.
Quote: “You deserve to have a healthy relationship with money” (you have earned it). ~ Bob Wheeler
Top 3 Hot Point Takeaways:
- Flip your mindset around money and what it means to be rich.
- Get educated on money and make it work for you and with you.
- Live with Integrity and leave behind a positive footprint on this earth.
Today’s Resource Links from the Podcast:
- Twitter @themoneynerve
- Book – The Money Nerve – on Amazon – https://amzn.to/2ZyQf0Y
Our Mentioned Influencers:
- Mike Michalowicz, author of Profit First
- Robert Kiyosaki, author of Rich Dad Poor Dad
Watch us on YouTube:
Timestamped Show Notes:
00:30 – Introduction
09:15 – I think a lot of us also make decisions when we’re five and six years old. Something happens when we’re a kid and all of a sudden, we’re like, oh, this is a decision I’m going to make for life without really all the facts. This five-year-old probably shouldn’t be making life decisions. But a lot of us, as we get older are still operating from the five or six-year-old thinking that was the truth instead of just a story we created.
18:55 – I was fortunate. My brother in law when I was younger, said, look, investing is great. But any money you put in there, it’s gambling. So only put in the amount of money that you’re willing to lose and call it a day.
21:00 – A great book, Rich Dad Poor Dad, talks really great stuff. Very good guy, a great book, all of that stuff. But at least if you’re gambling, it’s something that you are willing to take the risk and it’s something you enjoy feels a lot better than just something like oh, I hope it works out.
32:45 – I like talking about those simple things. This is something that happened to me a year ago. I mean, I’m sort of outing myself, but I was at a conference, and a workshop about social justice, equality, and privilege. I’m fortunate enough that I have a housekeeper because that’s one of the things that I like having is clean sheets and all that stuff. So I’m sitting at the workshop and I noticed that my socks are mismatched. Okay, now, I always think people that have mismatched socks are really cool, but I don’t do that on purpose. So right, a lot of people do it, but I’m not gonna count and so I’m not gonna take that risk and so living on the edge. Now, mind you, one sock was dark gray, and the other one was mildly dark. So nobody but me knew that my socks were mismatched and for about four seconds I was outraged that my housekeeper would mismatch my socks until I realized what an asshole I was being.
40:00 – It’s so interesting that you asked about the keyword of Nerve in my branding because one of the things that I find when I do workshops, live workshops with people is everybody wants to be rich. Me, me, me, me, I want to be rich. Cool, 10-minutes later, I ask what do you think about rich people? Rich people suck, they’re assholes, they’re jerks. Yeah, people, like them have no heart weight, and you want to be them. So already, we’re not in alignment, because we’re wanting to be the thing we hate, or that we have a judgment about, instead of actually, oh, some people that are rich, worked really hard. They put blood, sweat, and tears into it, and they didn’t just get it. I think when people make a quick judgment to say you’re rich, they miss you as the individual and they lump you in a group, which is what’s going on right now in a lot of different levels of saying, oh, this is who you are without actually seeing the person.
51:00 – We get into this comfort. I mean, I remember when I used to drive a pickup truck, I’m from Tennessee originally. So I was so happy to have my pickup truck and they were like, you can’t drive a pickup truck, you’re a CPA in LA. It’s embarrassing in LA. So I finally got a nice car, and everybody treated me differently, which was annoying, but I got used to it. So then I had to have a new car every year because that was the image. You know, the car companies would be like, hey, we’re gonna give you a new car, you don’t have to do anything. Well, okay, that’s sort of nice. I’ve sort of gotten used to it. But I really liked it when I didn’t pay for a car and having to trade it in. So I’m actually leasing this car, when the lease finishes, I’m actually buying it and I’m just keeping it.
55:45 – Final Words Shown Below…
Our Final Words of the Show:
Well, I think two things come to mind. Staying within our integrity, that’s huge for me. My favorite quote from Gandhi is “Be the change you want to see in the world”. That, for me, is don’t talk about it, don’t try to present it, just go out and model the life that you want to live. Other people will follow because they’re going to say, they’re doing something right. I want to know what they’re doing. Well, and I love that you re-emphasized the importance of integrity. It’s real, it is what you do when nobody’s looking, and again, in the long run, you know, what is the legacy that we’re leaving behind on this planet? I mean, I don’t think a lot of people think about that, they’re too focused on the now and not thinking about what could I be doing years from now by creating financial freedom by removing that debt and having more resources, that’s my goal. So I need to get this game dialed in, so I can give more.
I will say this I have a belief that everybody deep down wants to make an impact, wants to make a difference, and wants to know that they matter. That when they leave this earth, people miss them, that as a person, they left a positive footprint.
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