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How does your thinking affect your financial success?

At Moneyworks, we have worked with people for nearly 20 years, helping them work out what their goals are and how to achieve them.

Along the way we have done seminars for many corporates and their employees and had a lot of face to fact meetings with people where it was decided (by them or by us) that working together would not be successful.

One of the reasons that a number of these people weren't likely to have success working with a financial planner was the way that they thought about money and money related issues.

No matter how much we work with people as a 'coach' if your thinking is that you are never going to make it, that there is no point saving or insuring yourself, or that you would really rather have that consumable than put your money away for the future, there is no way as a financial planner that we are going to be able to change your thinking.

Diana Clement has written an excellent article looking at the 'behavioural finance' ways that people sabotage their success.  It is well worth reading.

One of the things that she doesn't mention, that we come across regularly is when a couple have different approaches to money.  One person wants to save, the other person wants to spend.

It is often said that the biggest stress on a relationship is money.  Not sex, not children, but money and finances.
Our financial failures are just a sign of delusion
If you have any thoughts or opinions that you would like to share, visit us at our Twitter, Facebook or Linked In pages, and comment.



 

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