Building Wealth & Financial Behaviors, With Dr. Sarah Fallaw

This is the “Know Better, Do Better” series born from the countless conversations two CERTIFIED FINANCIAL PLANNER™ professionals, Lauryn Williams and Chloé Moore, have about the trendy narratives and clickbaity articles that make it hard for them to help their clients. They want to help you gain financial confidence and clarity to control your destiny.

In this episode of the series, Lauryn and Chloé talk with guest Dr. Sarah Fallaw about the financial behaviors that are important for wealth building. Sarah is the co-author of The Next Millionaire Next Door and founder of DataPoints LLC, a behavioral assessment advisor fintech company. The company created an assessment of wealth-building potential based on The Millionaire Next Door.

If you’re ready to learn how to build wealth and what behaviors you can learn and what habits to adopt in order to make it happen, this is the episode for you!

In this episode, Lauryn, Chloé, and Sarah discuss::

• The difference between income and net worth
• Some of the myths about millionaires and what they really do instead
• The myths or misconceptions people have about building wealth
• The dangers of watching what others are doing and buying
• Six behaviors that predict financial success
• Why it’s important to understand what your financial planner is doing
• The importance of believing in your ability to build wealth
• What to watch out for so you won’t be influenced in your spending decisions
• Impact of those around us on our financial behaviors and decisions

To further connect with Dr. Sarah Fallaw:

• Twitter: @sarahfallaw
• LinkedIn: @sarahfallaw
• https://www.datapoints.com/
• The Next Millionaire Next Door

If you want to further connect with Lauryn Williams at Worth Winning, follow us on social media:

• Instagram: @worthwinning
• Twitter: @worth_winning
• Facebook: @worthwinningfp
• LinkedIn: @lauryn-williams

If you want to further connect with Chloé Moore:

• Instagram: @financialstaples
• Twitter: @finstaples
• Facebook: @finstaples
• LinkedIn: @chloemoore

Shared quote: “Money should never change one’s values…. Making money is only a report card. It’s a way to tell how you’re doing.” - Thomas Stanley

RESOURCES MENTIONED:

• Millionaire Next Door https://www.financialstaples.com/this-book-changed-how-i-think-about-money/
• Emotion and Intention In Saving Money https://bigthink.com/personal-growth/psychology-saving-money-tracy-thomas?rebelltitem=1#rebelltitem1
• How Marketing Influences Our Spending https://www.psychologytoday.com/us/blog/the-science-behind-behavior/201902/how-marketers-influence-how-much-we-spend-big-purchases
• Wealth Potential Assessment (shorter version of DataPoints assessment I use with clients) https://measure.datapoints.com/survey/e/DLHHyamFf0ZGySdIhLfd
• Spending Patterns Assessment https://measure.datapoints.com/survey/e/pDbfyvDHqwABMRHty21H
• Robert Caldini’s book https://www.influenceatwork.com/

Coming up next: In the next episode of the Know Better. Do Better series, we’ll dig more into how your spending habits impact your ability to build wealth.