Strengthen Your Relationship with Money | Guiding You Forward
In this episode of the Guiding You Forward video podcast we discuss how financial success is less about your bank balance and more about your relationship with money. Get insight from our expert Robert Steed, financial education manager at Mountain America Credit Union.
In this episode, you’ll learn:
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How early experiences with money guide future tendencies.
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Why a financial plan should be based on values instead of goals.
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How relative economic pressure can affect spending choices.
So, why do we feel and behave the way we do when it comes to money and our finances?
That’s the $64 million question, right?
Start by digging into the many different aspects of your money behavior—how you experience it, address it, interact with it and the value you give it or don’t give it. Some research supports the idea that people develop these behaviors very early on in life—maybe as early as age 10!
In this video, Robert explains how your experience with money is responsible for developing the financial tendencies you have throughout life—spender, saver, gift-giver, etc.
How to plan the right financial path
There are many definitions for financial success. Robert talks about how to create a customized plan. Use the gap between your ideal self and real self to help guide you on the path to achieving your financial goals.
More money can help, but that won’t fix all financial problems. There’s something called relative economic pressure—a fancy way of saying “keeping up with the Jonses.” No matter how big or small your salary is, if you choose to succumb to spending pressure, it usually ends up in a blown budget.
Watch our podcast video to learn more about money behaviors!
