7. Understanding the 4-Types of Money Emotions

In this informative video, financial expert Kiné Corder discusses the four types of money emotions that can significantly impact clients' financial decisions and overall well-being. These emotions are fear-based, lack-based, lust-based, and lonely-based. Fear-based emotions involve fear of making mistakes and fear of the unknown. Lack-based emotions manifest as feelings of inadequacy and the constant need to do more. Lust-based emotions include greed, guilt, and desperation, often leading to overwork and isolation. Lonely-based emotions stem from childhood experiences, leading to feelings of disconnection, being misunderstood, and isolation. Kiné Corder emphasizes that clients often use money to cope with these emotions, but it comes at a significant cost to their time, energy, and peace of mind. As financial professionals, it is crucial to understand and address these emotions to better serve clients and avoid client dissatisfaction. She invites viewers to join the Presidential Lifestyle community, subscribe to the newsletter and podcast for ongoing support and resources to help them navigate these money emotions effectively in their practice. By gaining more awareness and insight, financial professionals can better serve their clients and preserve their wealth, leaving them free to focus on what they do best without becoming their clients' therapists. Timestamps: 0:00 - Introduction 1:10 - The Impact of Money Emotions on Your Clients 2:45 - Fear Based Emotions: Overcoming the Unknown 5:15 - Lack Based Emotions: Battling Inadequacy and Constant Need for More 8:20 - Lust Based Emotions: Dealing with Greed, Guilt, and Desperation 11:00 - Lonely Based Emotions: Coping with Numbness, Disconnection, and Isolation 13:30 - How Money Is Used to Overcome Emotions 15:40 - The Importance of Addressing Money Emotions for Your Clients 17:15 - Join the Presidential Lifestyle Community for Support and Resources Key Points: This content dives into the four types of money emotions: fear-based, lack-based, lust-based, and lonely-based emotions. Money emotions can significantly impact your clients' financial decisions and overall well-being. Fear-based emotions involve fear of making mistakes, fear of the unknown, and fear of being taken advantage of. Lack-based emotions manifest as feelings of inadequacy, the need to constantly do more, and placing value in money and titles. Lust-based emotions include greed, guilt, and desperation, often leading to overwork and isolation. Lonely-based emotions stem from childhood experiences, leading to feelings of disconnection, being misunderstood, and isolation. Clients may use money to cope with these emotions, but it comes at a significant cost to their time, energy, and peace of mind. Understanding and addressing these emotions is essential for financial professionals to better serve their clients and avoid client dissatisfaction. To gain more insights and support, subscribe to the Presidential Lifestyle community, newsletter, and podcast. Resources THE PRESIDENTIAL LIFESTYLE COMMUNITY: https://www.presidentiallifestyle.com/join-now THE POWER OF FINANCIAL THERAPY: https://www.presidentiallifestyle.com/financial-therapy YOUTUBE: https://www.youtube.com/@financial.therapy LINKEDIN: https://www.linkedin.com/in/kinecorder/