Posts made in April, 2010

Financial Therapy 101: Money Scripts (part 2)

Posted by on April 27, 2010 in Financial Therapy, Skills Building | 0 comments

Step 1: Identify your Money Scripts

Money Scripts are the automatic thoughts we have in regards to money.

Here’s another exercise to help you “stir the pot” and continue to gather evidence as to what your relationship with money is like. (Remember: “Money” refers to all types of financial / material means.)

Exercise 3: Sentence Completion (Remember not to filter or judge; just write down what comes to mind.)

Wealthy people …

The poor are poor because…

Parents owe their children …

Financially, I deserve to …

I believe that giving …

One should never spend money for …

One should always spend money for …

Debt is …

The difference between the rich and the poor is …

Things would have been alright if I had never …

The relationship between God and money is …

The difference between love and money is …

The dumbest thing someone can do with money is …

Because I … I will never …

When I was little, I was told that money …

The wisest thing someone can do with money is …

Financial freedom is …

You can count on money to …

Never trust money to …

Being rich means …

I will always be able to …

Money should be …

It’s likely that this exercise will bring to mind other Money Scripts. Continue to write these down as they come to you. The more you know about your current relationship with money, the better equipped you’ll be to begin reshaping it into something more desirable.

Next week, we’ll begin walking through a process of examining the Scripts you’ve identified. Stay tuned!

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Financial Therapy 101: Money Scripts

Posted by on April 17, 2010 in Financial Therapy, Skills Building | 0 comments

We cannot change a reality we deny exists, so if you want to enhance your relationship with money, you must first know what it presently is. In this and the next post, I’ll introduce you to simple exercises you can use to “stir the pot” and begin to gather evidence as to what your relationship with money is like. (Remember: “Money” refers to all types of financial / material means.)

Step 1: Identify your Money Scripts

Money Scripts are the automatic thoughts we have in regards to money.

Exercise 1: Brainstorming

Take out a blank sheet of paper. Read through the following list – one item at a time – and consider how each relates to money. Write down whatever pops into your mind.

Don’t filter! Don’t judge! Don’t rationalize!

The key to brainstorming is to let the thoughts flow freely and easily. There will be time later to consider what you have written down.

Give yourself 15-30 seconds with each word, then move on to the next. Remember, there is no right or wrong answer – simply write down what first comes to mind.

Wealth

Happiness

Success

Debt

Family

Obligations

Work

Taxes

Saving

Pain

Values

Trust

Luck

Spending

Children

Bankruptcy

Harmony

Conflict

Regret

Shopping

Rights

Poverty

Inheritance

Giving

Fantasy

Honesty

God

If there are other words you’d like to brainstorm, go for it! Add them to your list. This exercise will help you practice noticing your thoughts.

Exercise 2: Real-time Tracking

Over the next week, keep an ongoing log of your thoughts regarding money. While you’re in a store, paying bills, considering your work, parenting children, chatting with friends, day dreaming … what are your Money Scripts? Write these down.

Remember, this isn’t a matter of “good” or “bad” – it is what it is. Each script is evidence of the experiences that have shaped your relationship with money into what it is today. They are grist for the mill of enhancing your relationship with money.

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Financial Therapy 101

Posted by on April 6, 2010 in Financial Therapy | 1 comment

First, a little background ….

I started out my professional life as a CPA working in the field of wealth management. Through that work, I realized that we each have a relationship with money – and this relationship drives not only our financial choices but also our day-to-day life choices. It is like a mirror to our relationships with other people as well as “things” such as work, health, recreation, financial assets, and material possessions.

All too frequently, I observed that a client’s relationship with money robbed him/ her of their desired relationships with family or friends, of work-life balance, or of peace of mind. I wanted to refer them to someone for assistance, but could not find anyone to whom to refer. Over time, I realized that I was being called to meet this need – to help others enhance their relationships with money so that they could lead more authentic and fulfilling lives. This is the aim of Financial Therapy.

Through Financial Therapy, clients learn about their current relationship with money. Some times they learn how it became what it is, but more importantly, they develop the tools with which to redefine the relationship.

Since financial distress strongly contributes to depression, anxiety, relationship issues, and a host of other problems, developing a healthy relationship with money can enhance all areas of life – physical, mental, emotional, relational, and spiritual. And that is why I am so passionate about Financial Therapy.

Over the next few weeks, I will be introducing you to some of the basic tools utilized in Financial Therapy. I encourage you to embrace these and let them work for you. If you find you cannot do it on your own, please let me know how I can help.

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