Money is Emotional
Money affects much more than our bank accounts; it also has a powerful impact on our emotional health, well-being, and moods. Our financial situations trigger emotions because, as humans, all our personal needs are affected by money. Because personal finances are interconnected with our human needs, we often make emotional money decisions that can be illogical and damaging. Everyone should work to better understand the root causes of your money decision-making processes and adjust them in order to live a more fulfilling life.
Dreams and Goals
A goal without a plan is just a wish. When it comes to financial goals and dreams, planning and prioritizing are essential steps to ensuring your financial security. By defining, envisioning, and utilizing S.M.A.R.T goal planning with regard to your finances, you can put in place a foundation for success.
Once your goals are appropriately developed, you can review them often and congratulate yourself on each small step that you are taking toward making your dreams a reality.
If you are like most people, your money knowledge, skills, and behaviors were not learned in a formal educational setting. You gain your money mind through a wide variety of influences. Friends, family, social media, trial and error, and advertising have likely played a role in your development. These influences can be good or bad depending on who you consider to be your MKO’s or More Knowledgable Others.
Do the MKO’s in your life live the lifestyle you envision for yourself, do they have similar values and beliefs as you? These are things to consider when deciding who should be influential to you financially.
Habits and Behaviors
As a human being, you are preconditioned to want to avoid pain and experience pleasure. This disposition leads us all to form habits that may lead to less than ideal decisions with our money. The good news, though, is that habits can be stopped or started with a little intention and self-awareness. By identifying your money habits and then actively working towards more successful behavior patterns, you can increase your financial well-being.
If you would like to hear more about this topic, please feel free to contact our office for a presentation, workshop, or individual coaching session. You can also access the Green to Gold Learning Modules for further self-directed learning and content.