Why your behaviour is the key to your financial freedom

Do you understand why you react the way you do to certain situations? Every action you take comes from somewhere. So where is that? It’s a much bigger question than most think.

Understanding your behaviour, your learned experiences, and your personality will make you that much better with your money. What has always fascinated me is why do rational people do the most irrational and human things with money. For example, how is it that someone making over $300,000 a year can have no money at all - But a person making half and even less in some cases has plenty of money and are well ahead in their financial goals?

The answer is that we are all different in the way we use money: some of us are savers, some spenders, risk-takers, or investors and some of us ignore our finances all together.

We are not born with beliefs about money, just like we aren’t born with views on the world, people or politics. Our beliefs are formed as we grow up. Your money beliefs are manifestations of your personal identity, which has been formed, moulded, and adapted over many years.

And money doesn’t just involve finances – it’s deeply tied up with our emotions, our learned behaviours, our biases, social and cultural norms, and relationships. That’s why all too often we ignore logic and make decisions around money that we know aren’t entirely rational.

By discovering your unique money personality, you will gain a deeper understanding of why you make certain financial decisions – then you can begin working with your strengths to meet your financial goals and live the lifestyle you desire.

Using research and studies from all over the world in the areas of economics, behavioural finance and psychology let’s look to help you understand who ‘you’ is when it comes to money.

And from here help you achieve financial well-being and freedom by identifying your unique view on money and redefining the parts of your money identity that no longer serve you.

ABOUT THE SPEAKER

Evan Lucas is the author of Mind over Mind and is a leading economist and Head of Strategy at InvestSMART. He has loved markets since the days of sitting with his grandfather and mulling over his investment portfolios. An experienced media commentator and financial educator, Evan’s biggest learning from his time working in markets, investing, and finance is that our individual behaviour towards money is always different and always changing.

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Ladies Finance Club empowers women to take control of their financial futures and to get money savvy (without the boring bits)!

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