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.

In this episode of The Wealth Effect, I chat with Nancy Ward, a passionate and purpose-driven financial coach helping clients break free from credit card debt without relying on traditional budgeting methods. Nancy shares her journey from personal debt and financial uncertainty. Nancy empowers families to prioritize their financial well-being with personalized strategies for a secure financial future.
Nancy brings a calm, compassionate, and practical perspective to financial coaching. Whether you're feeling stuck in your finances, struggling with money conversations, or just need guidance to create a plan that works—this episode will give you tools and inspiration to take your next step.
Links:
LinkedIn: https://www.linkedin.com/in/nancyward1/
Money Snapshot: https://www.nancywardfinancialcoach.com   
Email:  nancy@nancywardfinancialcoach.com

Welcome Brian Parana! 
More than a health coach, Brian Parana is a transformative catalyst who comprehends the intricate balance between professional achievement, personal well-being, and family responsibility.
With 20+ years of experience, Brian focuses NOT on a diet or just exercise but on empowering and building confidence for his clients. By blending science-supported strategies, relentless support, then a personalized plan is designed for each client to regain control of their health while building a career and support a family.
 
Coach Brian Parana’s "30 Tips in 30 Days" offers simple, actionable strategies to improve nutrition, fitness, and overall self-care. 
Each day introduces one practical tip, empowering you to build sustainable habits, boost confidence, and feel your best without overwhelm.
Highlights Include:
Nutrient-packed meal ideas and grocery list optimization.
Quick workouts and movement habits for busy schedules.
Small daily routines like hydration and gratitude journaling for lasting health improvements.
Ready to take control of your health? Visit https://go.brianparana.com/30days to jumpstart your health journey today!
 
Other links
www.brianparana.com 
Social Media @coachbrianparana

We Welcome Dr.Jose Mendoza! 
Dr.Jose Mendoza got his start in cardiac surgical procedures assisting physicians. At the same time his path on nutrition, physical fitness and wellness began. After seeing people stay and return unwell, he sought a better way to help others. Qigong and energy medicine played a pivotal role.
Through rigorous study, he completed his 4 year doctorate in Chinese Energetic Medicine program with over 4000 hours in 2024. Jose has also received instruction in physical fitness as well as nutrition and herbalism.
By blending ancient healing wisdom with cutting-edge scientific knowledge, Jose guides clients on transformative journeys of physical, mental, and spiritual healing. Using his vast understanding of the interconnectedness of the physical, energetic and spiritual, he empowers individuals to take charge of their health to unlock optimal health, vitality and profound shifts in their lives.
 
Contact Information:
Website: risetohuman.com
Instagram:@JMDCEM

Welcome back to The Wealth Effect, where we don’t just talk about making money. We talk about keeping it.
In this episode, we're diving into the dark side of wealth: scams. Because the truth is, building wealth is only half the battle. The other half? Not losing it.
From Ponzi schemes to social media “wealth coaches,” from crypto cons to fake investment platforms, we break down the psychology behind scams and the emotional triggers that make them work, like greed, FOMO, pride, and urgency. You’ll learn how to spot the red flags and protect your money with clarity, caution, and confidence.
We’re unpacking 9 of the most common and costly scams and giving you the mental tools to see through the hype and stay in control. Because real wealth isn’t loud, and it definitely isn’t easy. It’s earned, protected, and built smart.
Let’s fill your pocket—and protect what’s already in it.
 
 

We welcome our third special guest, Dr. Annie Cole!
 
Dr. Annie Cole, Ed.D., is an expert educator turned financial coach who teaches women how to master all areas of their finances, from budgeting and paying off debt to investing, building wealth, and retiring early. After spending 11 years developing and teaching courses to students and adults, she turned her educational focus to financial education with the goal of making complex financial topics simple for the everyday person.
 
Personally, Annie has experienced her own financial transformation over the last decade. In her 20s, Annie was a burnt-out social worker struggling on a $26,000 salary. By her 30s, she had climbed the ladder to a Vice President role, invested over $380k, owned $1 million in real estate, and cut 20 years off her retirement date.
 
Today, she runs Money Essentials for Women, an online financial resource center for women, and inspires women to step into new levels of money mastery and confidence. Learn more about her work at www.money-essentials.com or on Instagram @build.wealth.with.annie.

Passive income: It’s the dream sold in every YouTube ad. Money that flows in while you sleep. Freedom from the 9-to-5. 
In this episode of The Wealth Effect, we pull back the curtain on passive income. Not the fantasy but the real, gritty, strategic path to financial autonomy. We break down what it really means to earn without trading time for money and why most people get it wrong.
Tap play. Your future self will thank you.

In this episode of The Wealth Effect, we dive into the hidden psychology of spending. Why do we buy things to feel in control? To signal who we are? To avoid discomfort or regret? From the illusion of control to the trap of convenience and the fear of missing out, we explore the unseen forces that influence where our money goes and why it often slips through our fingers.
You’ll learn about:
The emotional triggers that drive impulsive purchases
The role identity plays in shaping your financial habits
How marketers use anchoring and urgency to influence your decisions
Why letting go of things is harder than it seems and what that reveals about us
How small conveniences come with a high hidden cost
This isn’t just a conversation about money. It’s a deep dive into how you think and how you can shift your mindset to spend with intention, build real control, and use money as a tool to build a life that reflects your values.