Ben Coombs has been a long-time friend of Money Quotient as well as an enthusiastic cheerleader and collaborator. Therefore, I took special note when Michael Kitces invited Ben to publish a guest post on kitces.com titled “10 Wise Lesson Learned About Being A (Better) Financial Planner” In his introduction, Michael explains that Ben was a […]
Everyone experiences both expected and unexpected transitions in their lives. However, those who are resilient are better able to navigate change, bounce back from disappointment, and welcome new opportunities. They persevere during difficult times and have a positive outlook even when experiencing trials and tribulations. Fortunately, resiliency is a trait or personal characteristic that […]
Your clients’ attitudes and beliefs about money have their roots in value-laden messages they have picked up along life’s journey. These money messages were not only clothed in the words of others, but in the behaviors they observed as well. To discover the roots of current financial feelings and behaviors, it is important for them […]
Many of us have been taught about setting goals through the use of the SMART acronym. The theory is that in order to be successful in our pursuits, our goals must be: Specific Measurable Attainable Realistic Tangible However, for most financial planning clients, this goal setting template is rigid and uninspiring. It puts the concept […]
There is a lot of truth to the old saying, “if you don’t know where you are going, any road will take you there.” Therefore, it is important to be deliberate in planning for your personal and professional success. One of the easiest and most effective ways to shape your future is to ask yourself powerful […]
*Be sure to read the author’s note and special announcement at the end of this blog post! In the Happiness Hypothesis, psychologist Jonathan Haidt wrote that long ago he developed a metaphor to help him make sense of his often self-sabotaging behaviors: The image that I came up with for myself, as I marveled at […]
The tradition of making New Year’s resolutions goes all the way back to ancient Rome. In 46 B.C., Julius Caesar developed a new calendar and named the first month of the year after Janus, the god of beginnings and endings.
Janus has always been depicted with two faces, one on the back of his head that allowed him to look into the past and one on the front of his head that allowed him to look into the future. At midnight on December 31st, the Romans imagined him looking back at the old year and looking forward to the new year. Therefore, he became the symbol of the resolutions made on the first day of each year when Romans asked their enemies for forgiveness.
In his long career at Stanford University, Albert Bandura, world renowned psychologist, has made tremendous contributions to our understanding of human behavior and motivation. One of his main areas of focus has been the concept of self-efficacy, a person’s belief in his/her ability to succeed in specific endeavors.