Flashcards: Financial well-being

An understanding of your current financial circumstances accompanied by the skills, tools, motivation to consistently improve your financial situation, and to create financial stability and security.

Information, tools, and insight.

Credit cards, automatic deposit, digital wallets, financial apps, and technology have taken over the financial component of people’s lives. This technology has disconnected most people from their money: seeing, touching, or interacting with it.

The best way to connect with your money is to understand your relationship with it – the specific thoughts, feelings, and attitudes that determine your financial behavior.

Financial problems and issues are the number one stressor in people’s lives and a major cause of depression, anxiety, child abuse, crime, and drug/alcohol abuse.

Your financial circumstances are rooted in your relationship with money. Your relationship with your money develops during childhood, and was influenced by your: family, financial experiences, religion, culture, society, gender, and numerous other factors.

A desire for change and commitment for change. When your desire for change and commitment for change are equally high, you are able to develop new, healthier money habits.

What are three behaviors that keep you stuck? (e.g., avoiding paying your bills, eating out too often, buying gifts you can’t afford, etc.) When are you more likely to self-sabotage? (e.g., when I am tired, when I am disappointed, when I am depressed, when I am out with friends, etc.) What can you do to limit your self-sabotaging activities? Why do you sabotage yourself? What benefits do you get from self-sabotaging?