Podcast Details:

Podcast Title:  Financial You–Part 3
Podcast Series: The Maven’s Keys to Financial Contentment

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

What makes up financial you?  Is it your money?  How do you feel about it?  Are you happy?  Are you content?  If you are or aren’t content do you know what is making you feel that way?

I believe a lot of people ask these questions internally, everyday and don’t always have answers.  Here are 4 steps to uncovering answers to those type of questions.
ASSESS, ADDRESS, ADJUST, ACHIEVE

Sticking with the weight loss analogy…

  • Know the following:
    • it is easier to behave your way into a new way of thinking about your situation than to wait for your thinking to cause new behavior.  Do you think wishing that you weren’t overweight is as effective of going to the gym, signing up for a membership and hiring a personal trainer?  Or better yet, finding a friend that you can go to the gym with to help you in your quest.  Of course everyone would agree that adopting a new way of behaving all the not the easiest or most comfortable is the most effective.
    • What you choose to do becomes less important from the stand point that you now have a new frame of thinking around your current situation that reflects two things:  where you are versus where you want to be.

THIS IS THE POWER IN THIS SECOND STEP OF “ADDRESSING”, BECAUSE IT DRIVES OR MOTIVATES YOU TO ADJUST.  Don’t lose sight of this.

  • After a while the results begin to show.  People will begin to ask if you’ve lost weight.  But the reality is you’ve been living with a change mindset and resulting behaviors for a while.  Cutting down on your trips to Starbucks to buy expensive coffee or whatever else you do that can be curtailed or even eliminated begin to translate in financial “wins” for you on your path to true financial contentment.  All these steps have to take place–Assessing, addressing and now adjusting–in order for you to be more financially content and begin placing your money where your heart is.  This is the overlap of that Venn diagram we spoke about in the first step.
  • So as you think about what you need to adjust, whether that be how much you spend or save, think about where you want to be.  Think about how you have already acknowledged that you are not there and you want to get there, so these are the things that need to change so you can reach your goal.

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

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