The #1 Money Rule to Live By: Understand The Psychology of Money

ℹ️ EPISODE INFO

Released

November 14, 2024

Duration

38m

Channel

The Mel Robbins Podcast

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

Order your copy of The Let Them Theory 👉 https://melrob.co/let-them-theory 👈 The #1 Best Selling Book of 2025 🔥 Discover how much power you truly have. It all begins with two simple words. Let Them. — 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 today’s episode, click here for the podcast episode page: https://www.melrobbins.com/podcasts/episode-233 Follow The Mel Robbins Podcast on Instagram: https://www.instagram.com/themelrobbinspodcast I’m just your friend. I am not a licensed therapist, and this podcast is NOT intended as a substitute for the advice of a physician, professional coach, psychotherapist, or other qualified professional. Got it? Good. I’ll see you in the next episode. In this episode: 0:00 Introduction 0:53 Mel shares a financial lesson she had to learn after facing bankruptcy 5:51 Why does money intimidate so many of us? 11:50 What every woman needs to know about being financially independent 14:25 How do financial dynamics shape your relationships? 17:49 The top 5 financial fears that keep most people up at night 20:20 Farnoosh’s go-to advice for overcoming financial fear and taking control of your money 26:20 How to harness your financial fear as a tool to transform your life 29:40 How to let your financial fear fuel your growth 34:30 The one question to ask yourself if you have fear and anxiety around money — Follow Mel: Instagram: https://www.instagram.com/melrobbins/ TikTok: http://tiktok.com/@melrobbins Facebook: https://www.facebook.com/melrobbins LinkedIn: https://www.linkedin.com/in/melrobbins Website: http://melrobbins.com​ — Sign up for Mel’s newsletter: https://melrob.co/sign-up-newsletter A note from Mel to you, twice a week, sharing simple, practical ways to build the life you want. — Subscribe to Mel’s channel here: https://www.youtube.com/melrobbins​?sub_confirmation=1 — Listen to The Mel Robbins Podcast 🎧 New episodes drop every Monday & Thursday! https://melrob.co/spotify https://melrob.co/applepodcasts https://melrob.co/amazonmusic — Looking for Mel’s books on Amazon? Find them here: The Let Them Theory: https://amzn.to/3IQ21Oe The Let Them Theory Audiobook: https://amzn.to/413SObp The High 5 Habit: https://amzn.to/3fMvfPQ The 5 Second Rule: https://amzn.to/4l54fah

🎤 SPEAKERS

• Mel Robbins

  host

• Farnoosh Torabi

  guest

🧾 EPISODE SUMMARY

In this episode of The Mel Robbins Podcast, featuring Mel Robbins and Farnoosh Torabi, The #1 Money Rule to Live By: Understand The Psychology of Money explores transform Money Fear Into Power: Using Financial Anxiety As Fuel Mel Robbins and financial expert Farnoosh Torabi explore the pervasive, often hidden fear people feel around money—fear of not having enough, losing everything, making wrong choices, or never reaching key milestones like homeownership or retirement. They reframe fear as a useful signal rather than something to eradicate, arguing that engaging with financial fear reveals our deepest values and what we want to protect. Farnoosh emphasizes that money is both a tool and a form of power, especially for women, and that financial independence is a right, not a luxury. Together, they offer mindset shifts and practical mental exercises to trace the roots of money fears and turn them into motivation and concrete action plans.

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