Decoding Our Money Messages – Part 2

What are the “untruths” we tell ourselves about money? This episode explores how to decode those money messages.

Podcast Details:

Podcast Title:  Decoding Our Money Messages – Part 2

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.

(CHECK OUT OUR YOUTUBE CHANNEL FOR THE VIDEO VERSION)

Link to Show Episode

George Kinder from 7 Stages of Money Maturity – (2:30)

  • The Seven Stages of Money Maturity: Understanding the Spirit and Value of Money in Your LifeKinder
  • page 5…”Money Maturity helps resolve the troubling emotional conflicts around money that never seem to go away.  For many of us, money represents anything but peace.  If you answer yes to any of these questions…”

 

Addressing our subconscious message about money… (4:20)

  • Do you have a “Linus complex”?
  • There are only two natural, “unlearned fears”, so we have to realize what we are telling ourselves that is untrue in order to decode our money message.
    • What messages are you playing?  “I will never have enough”, “I need to hoard my money”

Practical tips to “reprogram” our money messages… (9:30)

  • Replace your “untruth” with a passion/purpose/dream
  • Don’t be money-motivated, be purpose-motivated
#finlit
#finance
#financialadvisor
#moneymindset
#behavioralfinance
#behavioraleconomics

Helpful Links:

Developing Our Money Mindsets Episode 8, Episode 9, Episode 10

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.

#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

Decoding Our Money Messages – Part 1

What are the “untruths” we tell ourselves about money? This episode explores how to decode those money messages.

Podcast Details:

Podcast Title:  Decoding Our Money Messages – Part 1

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.

(CHECK OUT OUR YOUTUBE CHANNEL FOR THE VIDEO VERSION)

Link to Show Episode

George Kinder from 7 Stages of Money Maturity – (3:30)

  • The Seven Stages of Money Maturity: Understanding the Spirit and Value of Money in Your LifeKinder
    • Financial Planning is a form of “Life Planning”
  • Page 6…”That most important money maturity offers the ease and success that come from letting go of old painful patterns around money and learning how to create your own life based on a deepened understanding of your power and purpose.
  • Page 6 …“As my clients and students came to terms with lifelong messages about money and let them go they discovered the clarity to take practical steps like building a budget creating an investment plan or redirecting the careers toward work they truly wanted.”

The lenses we wear (7:46)

  • Our BELIEF SYSTEMS around money start forming as early as CHILDHOOD EXPERIENCES.  We may have seen our parents or siblings act a certain way with money and we have been replaying that message in our minds (subconsciously or otherwise) for many years by the time we reach adulthood.
  • In an effort to “decode your money messages”, we inevitably go through several “progressions” with our money as we mature and evolve. Realizing our behaviors are based on beliefs that get us results, we have to make sure we always are progressing towards TRUTH.
  • To truly “decode your money message”, you have to begin to divorce yourself from your emotions around money.
#finlit
#finance
#financialadvisor
#moneymindset
#behavioralfinance
#behavioraleconomics

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.

#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

How to Unlearn Fear

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.

Podcast Details:

Podcast Title:  How to Unlearn Fear

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.

(CHECK OUT OUR YOUTUBE CHANNEL FOR THE VIDEO VERSION)

Today, we will be dealing with the subject of FEAR.  How does one unlearn fear?  What happens in between the stages of GOAL FORMATION and GOAL ACHIEVEMENT?  I’d argue that most people deal with different levels of “FEAR of the unknown” that may cause us to settle for not going after our dream.  If you don’t unlearn your fear it can grip you and cause you not to fulfill your dream.  The asked questions of:
What if I fail?
What if I make a mistake?
What if I’m not accepted?
What if my dream can’t happen?
My Concept
Here’s a concept I’ve developed for myself to help me “unlearn my fear”.  I use it to combat the notion of associating fear with a valid constraint.  These are two different things and so I will explain.  For example, if you want to open a services business after years of gaining experience and skills you’ve gathered during your career, some valid constraints would be:
  • Generating enough revenue in the business by attracting customers to support your lifestyle.
  • Competing with other services businesses that offer a similar service/product as you and finding customers
These valid constraints, if unchecked can lead to the following fear(s):
  I won’t have enough financial resources to sustain my lifestyle because I won’t attract enough customers because the competition is too great. Thereby causing the following fear:  [fill in the blank].
Here is the immediate “comeback” to use during this subconscious conversation in your mind:
If I saved enough before leaving my current job, I could build a cushion to support my lifestyle OR I could start my business part-time.  Although I’ll have to work/sacrifice more right now, I’ll have a better chance of achieving my goal and avoiding [fill in the blank].

 

There can be many other constraints that are valid like time away from relationships, regulatory and legal obligations, etc.  But the way our minds work against us to accomplish our goals and dreams is to insert [SOME FEAR] to which we have to have a COMEBACK.

 

Identify the valid constraint(s) and make sure you distinguish those from the fear(s) you have and then develop your comeback.  This can be done with anything including your personal finances.  If you fear you will run out of money before you die, or that you won’t be able to get out of debt, find your “comeback” to deal with the fear.  Can you overcome that fear by changing your habits?  What changes can you make? Can you hire someone to work with you to help you?

 

I recently read that the only natural fears we have are the fear of falling or the fear of loud noises.  All other fears are learned which mean that they can be unlearned.

 

#finlit
#finance
#financialadvisor
#moneymindset
#behavioralfinance

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.

#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

Goals, Goals, Goals – Part 3

How do you execute? Try this formula…

Podcast Details:

Podcast Title:  Goals, Goals, Goals – 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.

(CHECK OUT OUR YOUTUBE CHANNEL FOR THE VIDEO VERSION)

GOAL EXECUTION

 

How do you execute?  Try this formula…

 

  1. Start with the end in mind
  2. Develop a strong “WHY” (in Goal articulation)
  3. Put one foot in front of the other…rinse and repeat.
  4. Revisit your why when times get tough (as often as necessary)
  5. Move on from defeats and learn your lessons from failures–“cut yourself some slack”
  6. Celebrate your victories
“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.”
—Jack Welch

 

“It’s not enough to be busy, so are the ants. The question is, what are we busy about?”   —Henry David Thoreau

“Plans are only good intentions unless they immediately degenerate into hard work.”    —Peter Drucker

“However beautiful the strategy, you should occasionally look at the results.”   —Sir Winston Churchill

“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.”   —Sun Tzu

 

#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance

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.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

Goals, Goals, Goals – Part 2

You should have a clear picture in your mind which can be reflected on paper that holds you accountable to achieving the results you desire.

Podcast Details:

Podcast Title:  Goals, Goals, Goals – Part 2

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.

(CHECK OUT OUR YOUTUBE CHANNEL FOR THE VIDEO VERSION)

In GOAL ARTICULATION, you must…

 

Start with the vision, write down what you think it will take you to get there, and finally, commit to the plan!

 

This 3-step process is called GOAL ARTICULATION.  It creates the accountability system you need to accomplish whatever goal you are striving to achieve.  Generally speaking, my clients come to me with a picture in mind of what they want for their finances, but they lack they system or plan to help execute.   In building their roadmap to financial contentment, I use this process to help them express their goals and also create a process to achieve them.

 

#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance

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.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

Goals, Goals, Goals – Part 1

The first step in reaching your goals is to DREAM. The dream is the essence of your GOAL FORMATION.

Podcast Details:

Podcast Title:  Goals, Goals, Goals – Part 1

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.

(CHECK OUT OUR YOUTUBE CHANNEL FOR THE VIDEO VERSION)

 The first step in reaching your goals is to DREAM.  The dream is the essence of your GOAL FORMATION.
A common theme in our society is saving for retirement.  But where do you begin?  GOAL FORMATION.
Spending some time on GOAL FORMATION is the first step in how you would attack how much money needs to be saved, such as:
  • What do you want your lifestyle in retirement to be…
  • How much money would that take…
  • How long you need to work to fulfill that…
  • What do you want to do in retirement…
  • What do you want to achieve… 
As we’ve mentioned before in Financial YOU (listen to part 1, part 2, part 3 or part 4), the first step to attacking any problem would be to assess your current situation before you can address any issues that you notice, make the necessary adjustments and then achieve what you want.  So this is pretty common to goal setting and achievement.
#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance

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.

 

Sound bumps provided by www.bensound.com

How Well Do You Know Yourself

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.

Podcast Details:

Podcast Title:  Using Money and Not Letting It Use You

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.

(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

859565760057937920

  • What does the research really show? (3:20)
  • What is our problem?  (5:40)
#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance

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.

Sound bumps provided by www.bensound.com

Using Money and Not Letting It Use You

The 3 questions that probably shape the way you view financial success…

Podcast Details:

Podcast Title:  Using Money and Not Letting It Use You

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.

(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

  • The 3 Questions…(1:55)
 -Why do I need financial success?
-What will I do once it is obtained?
-How will I pass on my financial success?

 

Answers to these questions by you reveal the lenses through which you view money and will reveal other things about yourself if you choose to explore them.
  • What “space” does money take up in your life? (2:50)
  • Why do I need financial success? To leave a legacy…To leave your imprint on the world… (4:14)

Live the eulogy you want to be read once you’re gone!

  • What will I do once it is obtained? Activities that coincide with your life’s mission…(6:25)
  • How will I pass on my financial success? To the worthy individual…(7:50)
  • Life’s formula (9:55)
#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance
#stewardship

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.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

What’s Your [Financial] Motivation?

You have to be careful that money occupies the appropriate place in your life. Otherwise, it can be your downfall because you can start to sacrifice some very important, sometimes irreplaceable things for it–like relationships and time.

Podcast Details:

Podcast Title:  What’s Your [Financial] Motivation?

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.

(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

So we just completed a series on developing our “money mindset” to address our attitudes and behavior with money.  I’d argue it is impossible to use something for its intended purpose if you don’t know it’s purpose.   Which constantly gives me something to talk about….but it occurred to me that I gave you the purpose of money in the last 3 podcasts on this topic but we didn’t really address YOUR individual purpose.  For instance, why do you want to financial success or money or wealth?

 

What is your purpose in life? (4:55)
3 points or really questions today (7:24)
-Why do I need financial success?
-What will I do once it is obtained?
-How will I pass on my financial success?

 

Answers to these questions by you reveal the lenses through which you view money and will reveal other things about yourself if you choose to explore them.
The key to stewardship (8:50)
You have to be careful that money occupies the appropriate place in your life.  Otherwise, it can be your downfall because you can start to sacrifice some very important, sometimes irreplaceable things for it–like relationships and time.

 

#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance
#stewardship

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.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

Developing Your Money Mindset: “You as Steward and Your Money as a Tool”

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.

Podcast Details:

Podcast Title:  Developing Your Money Mindset:  “You as Steward and Your Money as a Tool”
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.

 

(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

 

So we’ve been talking about developing your money mindset and we want to wrap things up today with how we should view money.

 

Last week I talked about Marvel Comics and this week I’ll stay with the entertainment theme and talk about The Count of Monte Cristo.  So the movie is obviously adapted from the book by Alexandre Dumas.  My generation is probably more familiar with the film with Jim Caviezel and Guy Pearce.  And to me this is the classic example of stewardship gone awry at least at first.  But there are some lessons that I think are appropriate for our discussion in developing your money mindset.

 

So the first lesson is:

 

  1. Finding out that [the money] is not yours – Developing your money mindset involves realizing that money comes and it goes.  You should master its use as tool, not let it master you.
  2. Finding a higher purpose for it is more enjoyable  – In the movie, “The Count of Monte Cristo”, the main character realizes his plot of revenge isn’t as satisfying as using the money for a higher purpose.
  3. Finding its proper use brings more of it  – Those in our society that adopted a “stewardship” mentality have found out that they actually attain more money.
#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance
#countofmontecristo

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.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com