From the course: Financial Wellness: Managing Personal Cash Flow
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A matrix of competing needs
From the course: Financial Wellness: Managing Personal Cash Flow
A matrix of competing needs
- When people talk to me about their financial frustrations, one phrase I often hear is "I'm just bad with money." I usually respond by asking the person to be more specific and describe to me what it is they do that's so bad. This is an example of using the doing versus being principle from our core essentials. The purpose of making a doing versus being distinction is to bring the "bad with money" label out of the realm of identity, and into the realm of behavior. Identity provides meaning to a pattern of actions that we then internalize as something that's true about ourselves. Even when this identity is negative, we have a harder time changing when we see it as a part of who we are. Behavior on the other hand, is something we can work with. For example, some common themes I hear of how a person is bad with money include not saving enough or avoiding opening bills and missing due dates. But unlike something that describes our…
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