Welcome back to The Wealth Effect. In today’s episode, we dig into a question that challenges the way most people think about wealth: What is the real value of your money?
It’s not how much you have. It’s what that money can do.
This episode is about purchasing power, the true measure of financial strength. From inflation to lifestyle creep, from salary illusions to global cost-of-living differences, we explore why your money today might be worth less than you think… and what you can do about it.
You’ll learn:
Why inflation erodes wealth—even in a growing bank account
How to think in real dollars, not just nominal ones
Why investments, not savings, are essential to preserve value
How lifestyle inflation quietly traps the middle class
What digital currencies and global mobility mean for your future
If you want to protect your standard of living, your future retirement, and your financial freedom, this is the episode for you.

In this episode of The Wealth Effect, We unpack one of the most misunderstood financial tools in modern life: the credit card. Are they a trap designed to exploit human psychology?
From the invention of the Diners Club in 1950 to today’s tap-and-pay digital wallets, we explore the evolution, psychology, and hidden costs behind credit card usage. You’ll learn how interest rates, minimum payments, and social comparison can quietly sabotage your wealth—and how to flip the script with discipline, awareness, and strategy.
Whether you're a seasoned cardholder or just getting started, this is a financial reality check you can’t afford to miss.
 

Day trading is sold as the modern path to wealth, fast money, freedom, and financial independence, all from your laptop. But behind the flashy screenshots and influencer hype lies a hard truth: most day traders lose. In this episode of The Wealth Effect, the dream turns into a nightmare for the vast majority.
We explore the psychology behind the rush, the sobering statistics no one shares, the hidden costs, emotional, financial, and mental, and why most "trading gurus" profit more from selling hope than stocks. You'll hear about survivorship bias, the rise of machines, and the brutal reality of competing against algorithms in milliseconds.
Is day trading worth it? For 95% of people, the answer is no. 
This episode is a must-listen for anyone tempted by the allure of quick gains and a cautionary tale for those chasing freedom through fast trades.

In this Byte-sized episode of The Wealth Effect, we explore a powerful and misunderstood force in economics: the Invisible Hand. Coined by Adam Smith, this concept explains how individual self-interest can unintentionally benefit society as a whole, without planning or intending to.

In this Pocket Byte episode of The Wealth Effect, we explore a crucial yet often overlooked aspect of entrepreneurship: investing beyond your business. An often overlooked pillar of entrepreneurial success is the investment portfolio. As an entrepreneur, you're already betting on yourself and your business. But what happens when the market shifts, clients pause spending, or growth stalls? As today’s episode reveals, building an investment portfolio is not just wise; it’s essential.
We explore:
Why business success doesn’t always equal financial freedom
The dangers of tying your entire net worth to one asset
How diversification can protect and grow your wealth
Whether you're just launching or already scaling, this episode will challenge you to think differently about your financial future.
Listen in and start building wealth beyond your business.

In this heartfelt and deeply insightful episode of The Wealth Effect, Dr. Kimberly Harms joins us to share her powerful life journey from a career in dentistry to navigating profound personal loss. A former commissioned officer in the United States Public Health Service and a successful dental practice owner, Dr. Kim opens up about financial experiences. This conversation goes far beyond money.
Dr. Kim vulnerably shares her experience of becoming a widow, the devastating loss of her son to suicide, and her path through grief, depression, and healing. She offers practical and emotional wisdom on estate planning, end-of-life care, and the importance of open communication with family to avoid conflict and preserve legacy. We discuss why planning for death is not about fear, it's about living with purpose and peace.
This episode is a moving guide on how to prepare practically for life’s most difficult moments.
🔗 Resources Mentioned
Dr. Kimberly Harms' website: DrKimberlyHarms.com 
Rethinking Death: https://rethinkingdeath.life/
Upcoming book: Rethinking Death.Life

In this episode of The Wealth Effect, we sit down with Julius, a digital content creator whose artistic vision is shaped by a life rich in culture, travel, and transformation. Born in South Africa during a time of great change, Julius brings a global perspective to creativity and entrepreneurship. We explore how his experiences with high-profile projects and his decision to become a full-time artist in 2021 have influenced his approach to content, brand building, and digital NFTs.
Website: https://fineart.juliusjooste.com/
Social Media: juliusjooste.com/contact
NFTs: https://fineart.juliusjooste.com/nfts/
Julius' Show notes: https://fineart.juliusjooste.com/articles/interviews/the-wealth-effect-an-interview-with-julius-jooste/
 

Why do smart people make irrational financial choices? Why do we stick with doomed projects, failing investments, or toxic commitments, just because we’ve already spent money, time, or energy on them? You’ll learn the psychology behind sunk costs, including loss aversion and cognitive dissonance.

In today’s episode of The Wealth Effect, we’re asking a question most people run from: How much is enough? Not what society says. Not what social media flaunts. But what you truly need to feel free, secure, and in control of your life.
This isn’t about chasing millions. It’s about redefining wealth on your terms. We unpack the psychology of “enough,” explore lifestyle tiers, cost of living, and how geography, mindset, and values shape your financial needs. Whether you’re chasing FIRE or simply want peace of mind, this episode helps you rethink what financial freedom really looks like. Not just in dollars, but in how you live.
If you’ve ever wondered what your freedom number is, or felt like wealth is always just out of reach, this conversation might change how you see the game.