Four Pathways to Financial Wellness
Without a framework of understanding, it’s hard to even ask for help on finance from a person. And hard for a person to help someone who doesn’t know what they want, how they’re wired, or what they value.
Endless content makes it easy to confuse watching something with doing something. Consuming content is not a plan. It’s an activity. As Denzel said in a commencement address, “Don’t confuse movement with progress.”
Dry, technical, finance articles offer factual information, but they only answer the questions you ask. And they usually throw in “it depends” for the outlier scenarios, casting doubt on if you are also an “it depends” outlier.
Speaking with thousands of people from different backgrounds, professions, neighborhoods and identities, I noticed that people doing well financially can act very differently. On purpose or by accident, they’ve leveraged the properties of money by tapping into one or more of these behavior pathways.
The majority of us need a framework of understanding for cultural finance - how we, as people, are affected by our immediate circle, our communities, our culture. In seeking an explanation of their numerical finances, people tell me things about their lived experiences: their childhood, their stressors, their relationships. Not rebalancing their portfolios. People share statements like these:
“I just can’t seem to budget, never have”
“I save, save, save and then binge spend”
“I can’t believe how much I’m making, it’s hard to wrap my head around”
“My parents’ example is what I want to avoid”
“I want a career that’s more sustainable even if it’s less income, I don’t want to be on email 24/7”
“I’m afraid of losing progress I’ve made like last time”
Their past experiences shaped their present behavior. And what worked for one would never for another. Client A chose more hustle and Client B chose self-restraint. How could I codify this? Most of us aren’t willing to fanatically pursue wealth or become robotically rational. American culture celebrates (or vilifies) wealth but doesn’t explain it. Barriers do exist, but some overcome them anyway … Mindset is critical, but that’s not an excuse to ignore changes we can make collectively. It’s always both.
Young or old, left or right, we ALL want some measure of independence and security. In Change from Your Dollars, stories from my life reveal these four pathways on an individual level.
Check out this quick guide to learn more about using these four pathways in your life, then reach out.
In leadership? Book me to speak on cultural finance in relation to your group’s work.
Every dollar has a social impact.