Tag: behavioral economics

How High Earners Fix Money Scripts & Build Real Wealth | Yohance Harrison (Episode 52)

How High Earners Fix Money Scripts & Build Real Wealth | Yohance Harrison (Episode 52)

Summary: In this episode of Wealth on the Move, host Will Hoffman welcomes Yohance Harrison, founder and CEO of Money Script Wealth Management and host of the Only Human Podcast. Yohance shares his personal journey from facing childhood financial scarcity to building a specialized wealth management practice focused on high-burnout emergency room physicians. Together, they explore the psychological and behavioral aspects of money management, examining how childhood experiences and ingrained “money scripts” influence financial decision-making into adulthood. Yohance breaks down the unique financial traps facing high earners, the shift from traditional pensions to individual 401(k) responsibility, and the critical gap in modern financial literacy education. Finally, he outlines actionable behavioral exercises—including aligning personal expenses with top core values—to help listeners rewrite their relationship with money, and highlights his contribution to the new book Even More Than Money.

Resources:

Takeaways:

  • Yohance Harrison founded Money Script Wealth Management to focus specifically on ER physicians, a demographic with high burnout rates and complex financial needs.
  • High earners and medical professionals often fall into the “I’ll deal with it later” trap due to extreme decision fatigue and delayed gratification.
  • Personal financial choices are heavily influenced by childhood “money scripts,” such as scarcity mindsets, which persist even as income grows.
  • The transition from employer pensions to self-directed 401(k)s transferred retirement planning responsibility to individuals without providing proper financial education.
  • Financial literacy remains under-taught in schools partly because educators themselves often lack formal training in money management.
  • Behavioral financial advising helps clients recognize cognitive biases, such as aversion bias, herd mentality, and trying to predict the future.
  • Performing a personal values exercise and placing core values on a daily bathroom mirror can actively guide better financial choices.
  • Auditing 30 days of personal spending against your core values reveals whether your money is supporting what truly matters to you.

 

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Disclosure: Yohance Harrison and The Money Script are not affiliated with Hoffman Wealth Management or Private Advisor Group