Podcast Details:

Podcast Title:  The Social Cartographer Series:  Prescribing

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.

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So last week we talked about “DIAGNOSIS“…and today we’ll cover “PRESCRIBING”.

 

Any good physician will diagnose prior to prescribing a solution/medicine/remedy for the patient.  I have a similar mindset when working with a financial planning client.  I believe gone are the days of a paradigm where advisers withhold information in a condescending manner from clients.  In this day and age it is more so a collaboration.

Now here is where I feel that real financial planning intersects consumers on a real level.  Since money and finance are so tied into the fabric of our society, you need your own personal roadmap that articulates the path you will take to achieve your financial goals. My map can’t be your map, and your map can’t be mine.  Financial maps are like snowflakes–no two are alike.

Financial maps are like snowflakes–no two are alike.
Since that is the case, that means financial goals vary by person because those GOALS represent a picture of CONTENTMENT for that person. And was is contentment?  I’d like so say it is where your money/finance/resource meets what you value or believe in.  This overlap is what I call financial contentment.

So how do you prescribe “financial contentment“?  Good question.  And the honest answer is that it is difficult to do.  Why?  Well, we covered a bit of this in Decoding our Money Messages.  Essentially, we all have life experiences that are the building blocks of our belief system.  How we believe informs our actions, and our actions, in turn, produce results.

So, essentially in PRESCRIBING a method or solution to get results, behaviors have to be modified.
But in order to modify behaviors you have to do what one of my favorite authors suggests, which is:
-Give people proof beyond a reasonable doubt [that they are wrong]; AND
-Show them what’s in it for them

These are two elements that if mixed together, result in behavioral change.

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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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