Posts Tagged "motivation"

A lit lightbulb floating in front of a blue sky with a large puffy white cloud.

Finding Motivation to Control Spending

In a May 5 Squared Away blog post, I provided a list of financial planners’ five favorite tools for helping people control their spending. In this post, I’m providing their motivational suggestions.

Here are the five tips, based on my informal survey of planners. Each tip includes the psychological rationale behind it.

Find the “Aha! Moment.”

Some clients respond when they see, in detail, how much they’re spending and what they’re buying. Bonnie A. Hughes, a northern Virginia planner, is a big believer in mild shock therapy. She’s had great success by showing clients how much their income would fall if they were laid off, divorced, or dropped out of the workforce. Or she shows them just how much they’ll need in retirement, and it’s usually a big number.

Reason: The Aha! Moment provides the self-motivation that clients must possess and that planners can’t provide. …Learn More

Tipped over jar of change.

5 Tools to Control Spending

Financial planners say poor spending habits are their biggest obstacle to helping clients.
So I asked a dozen financial planners around the country – all members of the National Association of Personal Financial Advisors (NAPFA) – to share their best tools and tips.

This week I’ll provide the five “best” tools and the reason planners like them. Next, I’ll post planners’ top five motivational tips. …Learn More