He blend the nuts and bolts of financial advice with the emotions that drive making them. Every financial behavior, whether it appears illogical to you or others, makes perfect sense when we understand the underlying beliefs, feelings, and thoughts. Good money decisions are not just about money.
Financial Trauma are money-related occurrences that, either as single extreme events or chronic patterns, can overwhelm a person and become traumatic. Some emotional signs of financial trauma are depression, ambivalence, regularly reliving the original event, anger, mood swings, overeating, trouble …
One of my retired clients is fond of telling me, “Growing old is not for the faint of heart.” As we age, it becomes increasingly important for us to have a support system that will advocate for us, or “have …
The FIRE (Financial Independence, Retire Early) movement advocates extreme frugality in order to retire as early as age 30. The biggest challenge with the skills and discipline needed for a FIRE plan is not starting it (which isn’t necessarily easy) …
Frugality Syndrome: Making The Emotional Shift From Saving To Spending Read More »
Dick Wagner, CFP, was fond of saying that understanding money and how it works is a 21st Century survival skill. This is not an exaggeration. What you don’t know about money—as well as what you think you do know about …
“Money should be saved not spent” People that have money scripts like, “You should not tell others how much money you have or make,” “Money should be saved not spent,” and “I would be a nervous wreck if I did …
“Your self-worth equals your net worth” People that have money scripts like, “People are only as successful as the amount of money they earn,” “If something is not considered the ‘best,’ it is not worth buying,” or “Your self-worth equals …
Do you know someone that believes that “Things would get better if I had more money,” “More money will make you happier,” and “Money would solve all of my problems.”
Do you know someone that believes money is bad, creates anxiety, and that rich people are greedy?
Money scripts, those beliefs that influence every money decision we make, underly and form chronic harmful money behaviors. We’ve identified 13 harmful money behaviors that can negatively affect a person’s financial wellbeing. Learn how these behaviors form in us, typically …
How much is a tax deduction worth? Maybe less than your money scripts and the emotions that drive them would have you believe. Here are some common ways that over-emphasizing deductions may reduce your tax bill, but actually cost you …
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