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The Psychology of Wealth: Understand Your Relationship with Money and Achieve Prosperity Hardcover – January 17, 2012
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About the Author
Charles Richards, Ph.D., is a Doctor of Clinical Psychology, author, and licensed psychotherapist in private practice. He has trained and coached the senior executives of many Fortune 100 corporations, including General Motors, IBM, Apple, Motorola, SAP, Qualcomm, Whirlpool, Honda, and Sony.
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Top Customer Reviews
The Psychology of Wealth by psychotherapist Charles Richards attempts to explain how, through consciously understanding our relationship with money, we can become prosperous. This book is written from a psychologist's point of view and puts change in ones behavior squarely on the individual.
Richards defines the psychology of wealth as a sense of comfort and control in ones relationship with money. How individuals spend/borrow money is a complex issue and is a result of many factors...this book illustrates how to become conscious of your spending/borrowing habits and to act accordingly.
It was the 2008 economic crises that got the author thinking about money...he interviewed many successful people in different careers to help him understand what common qualities prosperous people possess. People who possess the "Psychology of Wealth" have the following attributes:
Furthermore, Richards blames "unconscious spending" and behaving inconsistently for getting so many people in trouble financially.
The answer, according to Richards, is that healthy people deal with money consciously. They take responsibility for their spending. (This means that back a decade or so ago, when almost anyone could get a mortgage, the responsible person would say "no" if they couldn't afford it.)
Responsible people, in short, are adults taking charge of their lives. They educate themselves and understand what they can or cannot afford.
Pretty simple stuff...but it all makes sense.Read more ›
If you define "psychology" loosely, the book delivers. It's an easy read, more like a Readers Digest collection than a book about psychology. The cover promises, "Understand your relationship with money and achieve prosperity."
The book consists of a series of stories about real people who achieved if not wealth, then a trip out of poverty. The stories are loosely tied to principles that are somewhat New-Age-y, such as the importance of service in wealth creation. "Self-esteem" has become a controversial concept, yet the author simply introduces the idea.
On the plus side, a series of success stories can be inspirational and certainly fun to read. On the other hand, it's hard to draw lessons or achieve greater understanding. We know we are given a condensed, upbeat version, so it's hard to view them as case studies. Moreover, it's easy to pick the stories apart. Did these people have some qualities that brought them success or were they just lucky? Without a more scientific approach, we won't know.
To take just one example; on page 163, Richards tells the story of "Deidra," a teacher who was down to her last five dollars before her next paycheck. (Was her check due the next day? In two weeks? We aren't told.) Deidra gave her last five dollars to a raffle for a charity. She won the raffle, getting something she'd always wanted: a ride in a hot air balloon.Read more ›
1. how life doesn't always get better once you attain a certain income level (often it gets worse)
2. how having self esteem will make you feel rich
3. why passion for your work is critical in achieving true wealth
4. we don't choose what happens to us in life, but we do choose how we choose to respond
5. trusting that we will have enough, no matter what
6. why giving to others makes us feel wealthy
7. having a 'conscious' approach to managing your finances and debt
8. being thankful for what you already have
Even though many of us will recognize these tips, this book provides a useful reminder that there's a lot more to wealth than how much you can earn or can afford to buy.
Most Recent Customer Reviews
A gentle and supportive reminder of fundamental perspectives we can all 'practice' to create ahealthier, wealthier Mindset. Read morePublished 10 months ago by matthew maceachern
I didn't know what to expect when I ordered this book - was it going to be one of those "Beat me down, and then pep me up" books, or one that told me everything I already... Read morePublished 18 months ago by Nic Nac
If you're looking for an easy book to read to make you feel good about yourself and your financial future, this book is for you. Read morePublished on December 28, 2013 by rushinlurner
Great book and great condition. A+++++++++++. What an uplifting and great read. Highly recommended! Please read this book if you would like to feel compelled to understanding what... Read morePublished on April 20, 2013 by Rachel Russo
So many authors use a good title (offered by the publisher?) in name, but fail to deliver. Usually, they follow no outline or format, like a rambling preacher who relies on... Read morePublished on February 14, 2013 by Satisfied Customer
This book reveals the true essence of wealth. Happiness while planning.
I would recommend this book to everyone, excellent read.
There are some key points made in this book to inspire your greatness. I would recommend this to anyone who intends to help others.Published on August 6, 2012 by Amazon Customer
Life Changing book in a way. It is all about how much you put yourself into it, and really, dive into yourself. Read morePublished on August 5, 2012 by julian