The Mel Robbins Podcast
The #1 Money Rule to Live By: Understand The Psychology of Money
Thu, 14 Nov 2024
Today, you’ll learn the #1 money rule to live by to achieve financial success. You’ll also get the secret to stopping fear and anxiety around money for good. In this episode, financial expert Farnoosh Torabi will uncover major money myths that leave you feeling trapped and the steps you need to take to get good with money and build wealth. Whether you want to start saving, make more, or get out of debt, this episode will lay the foundation for greater financial success. This is an open and honest episode that will help you transform your relationship with money, and Mel candidly shares about her experience with financial fear after she found herself $800,000 in debt. For more resources related to this episode, click here for the podcast episode page.If you want more content related to money and finances, listen to this episode next: 5 Rules of Money: How to Make It, Save It, & Be Smarter About ItConnect with Mel: Watch the episodes on YouTubeGet Mel’s new book, The Let Them TheoryFollow Mel on Instagram The Mel Robbins Podcast InstagramMel's TikTok Sign up for Mel’s personal letter Disclaimer
Full Episode
Hey, it's your friend Mel, and welcome to the Mel Robbins Podcast. Are you afraid you'll never have enough money? Or worried that you'll never be able to buy a house or send your kids to college? Or maybe deep down, you're afraid that no matter how hard you work, you'll never get ahead? Or does staring at your bank account make you panic?
Well, I know that fear because I've lived with it for a large part of my life. From maxing out credit cards in my 20s to spending my money on just the dumbest things to worrying that I would never be able to afford a house. And then when I finally did, I almost lost it. For years, I had no idea how to get out of debt or how to get out of this spiral and fear around money.
Working myself to exhaustion, multiple jobs, feeling like I would never, ever, ever climb out of the hole that I was in. If the fear of money is suffocating you, you're not alone. And if I can figure this out, so can you. I have changed my relationship with money.
And today, bestselling author and leading financial expert Farnoosh Karabi is here to teach you how to face your fears and unlock the financial freedom that you deserve. This episode is your lifeline and guide to a completely different relationship with money.
Whether you're struggling with debt or starting to build a little savings or you're already on the path to financial freedom, this is a conversation about money that you and everyone that you love needs to hear. Hey, it's Mel. I am so excited that you're here. It is always such an honor to spend time with you and to be together. And if you're brand new, welcome to the Mel Robbins Podcast family.
And thank you for choosing to listen to this podcast episode about money. And you know what that tells me? It tells me that you're the type of person that not only values money, but you value your time and you're interested in learning about ways that you can improve your life. I just love that.
And I'm so excited that you're here today because you and I are going to dive into something that so many of us struggle with, but we don't talk about, and that's financial fear. Now, I know firsthand what it feels like to be afraid when it comes to money. I know what it looks like to look at your bank account and not know how the heck you're gonna make it to the next month.
I know that gut-wrenching anxiety when you go to check your bank balance and you just hope that it won't be in the red. You may not know this about me, but there were days when my husband, Chris, and I were so terrified that we wouldn't be able to pay the bills or worse, that we were gonna lose everything. Just over a decade ago, we were on the brink of complete financial ruin. I was 41 years old.
$800,000.
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