Financial Success & A Mindset of Control

Imagine this: it’s the day after Halloween, and you are about to enter your local big-box store retailer. EVERYTHING about the store flashes “SALE!” Who or what is in control of your actions in this situation? Let’s consider two different mindsets and possible outcomes related to how we might approach our shopping trip in this scenario: Mindset 1: I can positively affect the wealth my household accumulates. Potential Outcome: I will shop and spend in[…]

Planning & Monitoring: The Obvious Wealth Factor We Love to Ignore

In pop psychology and social media, there seems to be more interest in money personality than in financial behaviors when it comes to talking about the things that will have the greatest impact on how successful we are at accumulating wealth. Who doesn’t love a one-question quiz that asks you about your favorite color and then gives you a report telling you you’re a terrible investor because you like magenta? Tests like the Myers-Briggs Type Indicator[…]

Changing Attitudes and Behaviors Related to Budgeting

An obvious mechanism to help an individual spend their cash flow in accordance with their financial goals is to employ some sort of budget. But for many of us the idea of constricting any type of behavior, especially the way in which we spend our money, is unpleasant. Even if we label it using the euphemism of a “spending plan.” Volumes of advice and technologies are available to help with the mechanics of putting budgets together and tracking[…]

Mindfulness, Well-Being, and Spending: The Benefits of Being Aware

Have you ever dismissed a concept because it sounds too “soft,” that it won’t help or be applicable to your practice, life, or clients? One of those concepts that has suffered from a branding problem in the financial world is mindfulness. However, with the increased focus on holistic financial planning, it’s gaining some ground a an increased reputation as a way to help achieve financial success. Let’s consider it in light of spending. News-flash: Excessive spending can[…]