Who Are You Financially Speaking?
As a financial coach, one of the first questions I typically ask my clients is, "Who are you financially speaking?" It's a simple yet powerful question that often leaves them puzzled and confused. Most don't know how to answer the question because they have never really thought about it. Those who do try to provide a response create a long narrative with financial terms mixed together without the correct context. What they do not understand is, I am less interested in financial vocabulary and more concerned with an answer that goes beyond just knowing budgets, invest terms and savings. I am actually looking for answers that uncover financial habits, goals, and values. I am searching for answers regarding financial decision making, motivators, attitudes, values, priorities and importantly the emotions tied to money and finance.
I understand finances can be overwhelming and very personal in nature. It’s not necessarily deemed a “sexy” topic to discuss unless you have money or possess “financial portfolios”. But, in order to develop financial growth, you have to be able to open up and be vulnerable. Please understand there is no judgment or shame coming from this end. Life has thrown financial challenges at all of us. However, understanding the importance of who you are financially can provide insights on a multiple aspects of your life.
Money and your relationship with it or the your psychology surrounding money or finances tells a lot about who you are. Being aware of who you are financially involves taking an honest and comprehensive evaluation of your financial situation, regardless of how uncomfortable it may be or feel. Our relationship with money or finance begins in our childhood and is framed from that point on. In underserved communities, the relationship is adverse and the lack of resources available further agitates the evolution towards money and its use. Listen, there is power in acknowledging where you are and building a plan for where you want to be. To some people finances are just about the numbers, but it is so much more than that. It’s understanding whether you are financially impulsive, financially reserved, financially complacent, financially starved, or maybe financially untaught (no shade). Discovering your financial proclivities, how you spend money, and the financial opportunities available to you can provide a key to a more financially secure future. Can I share a secret with you? At times, I am financially impulsive. Yes, me the financial coach. I know better, but when Macy’s sends out their push notifications, I believe it is a personal VIP invitation for me to stop and check out the sales; and more often than not, I make a purchase. We are all human, so, see you are in good company. However, here is the difference, because I am financially aware and knowledgeable, I have learned to acknowledge my tendencies, developed a plan and so can you.
Again, judgement-free zone here, I am not here to cast aspersions on your financial situation, but help you author a different story if you are not happy with the current one. If you find yourself struggling, frustrated, depressed, or constantly stressed about financial matters; know there is no one size fits all approach and more importantly it is never too late to take control of your finances. I typically admit to my clients looking for financial success, we all start at the same place, the Starting Line. So, it becomes vital to let go of the fear, embarrassment, or feelings of judgement, but embrace the notion you have what it takes to turn your situation around and with the belief in abundance and a mindset shift you are well on your way to answer the question at hand.
With that being said, let me conclude with a pitch for financial education. As a financial literacy advocate, I know who you are financially is essential in navigating the nuisances of our society. Coupled with that, being financially literate can be a game changer. Yes, it is important to know about budgeting, saving for the future, and making wise investment decisions. Additionally, understanding the risk vs. reward aspect of finance, various financial products available; from banking accounts to credit cards to retirement plans and insurance options are vital. Yet, the key is to understand how to maximizing their benefits will produce profits to your circumstances or dreams.
Thus, we end where we began. Who Are You Financially Speaking? For those reading this and thinking, I know who I am financially, let me applaud you! But for others, who are looking to answer the question, take a moment to reflect on your current financial situation. Understand your financial identity goes deeper than surface-level metrics. Then answer confidently, “I am the evolution of my life circumstances, and my priorities shift as does the stages in my life.” But at this moment, I am financially empowered, informed, and intentional in my actions and decisions. I embrace the belief that wealth and opportunities are abundant in the world, and I am financially evolving.”
If you are unsatisfied with who you are you financially speaking'; do not stay in the place you currently reside. Find reputable resources to help you understand your finances, your psychology with finance, educate yourself on financial topics, hire a financial coach (like ME) or advisor. You deserve to be financially healthy for you, your family, and your community! God Bless!
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