Neuroeconomics: The Brain Behind Your Bank Balance with Kevin Parton

Oct. 31

Have you ever pondered the intricate relationship between money and our emotions? Today, I dive into this complex interplay with Kevin Parton, a Partner and Senior Advisor at Vela Wealth. With a rich background that spans beyond just crunching numbers, Kevin offers a unique perspective on how our financial behaviors are deeply intertwined with our personal histories, beliefs, and emotions.

In this episode, we journey through Kevin’s own experiences, from his humble beginnings to the transformative moments that reshaped his understanding of wealth. We discuss the psychology behind financial decisions, the impact of our childhood beliefs on our adult financial behaviors, and the often-underestimated role of behavior in determining financial outcomes. Kevin’s insights challenge the conventional wisdom about money, urging us to look beyond the surface and explore the deeper emotional and psychological factors at play. Join us as we challenge conventional money wisdom, diving into the emotional depths and unpacking the baggage we all hold about true wealth and well-being.

And as with everything I share on the podcast, this is what I believe based on what I’ve read and researched. But please don’t take my word for it. Keep what sticks, discard the rest and for goodness sakes, go out and test drive it!

What You’ll Learn In Today’s Episode:

Behavioural financial management vs technical financial management.
The cultural relationship with money.
The common behavioural motivators that we may not be aware of.
How to overcome shame around money.
A common fear most people have regarding money.
The psychology behind gamifying wealth building.
Why behavior is a bigger determinant of outcome than bank balance.
How to change your relationship with money.

Ideas Worth Sharing:

“To gain wealth means to question one’s morality.” – Kevin Parton

“Nothing has been more valuable to me in this profession than understanding human behaviour.” – Kevin Parton

“People will pursue goals that don’t actually mean something to them.” – Kevin Parton

“If you can speak to someone and understand them, then the financial knowledge starts to become valuable as well.” – Kevin Parton

“It’s only when you pursue what you want that you’re happy.” – Kevin Parton

“Let’s change what you’re working towards, and change how you’re getting there, and you’ll be happy now and happy when you arrive.” – Kevin Parton

“If you don’t have the behaviour to manage money, that doesn’t change when you have it. In fact the inability to manage money is amplified.” – Kevin Parton