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222: Want to Simplify Your Money Management?
Manage episode 342333825 series 2455407
“As it turns out, personal finance is like touching an electric fence that you didn’t know what electric. Managing our money is not a math problem; it’s a behavioral problem.”
Carl Richards is a Certified Financial Planner™ and creator of the Sketch Guy column that appeared weekly in The New York Times (2010-2021). There, he used simple illustrations to introduce calming financial advice and counsel. He is also the author of The One-Page Financial Plan and The Behavior Gap resources — a book, website, and podcast that provide simple ideas to help us “Stop Doing Dumb Things with Money.” Carl’s goal is to demystify financial planning by focusing as much — or more — on the humans it serves as it does on the numbers.
Topics discussed in this episode include:
- The crash of the housing market in 2008.
- The psychological underpinnings that influence money management.
- Using a tree as an analogy for financial counseling.
- Carl’s sketches as “shortcuts” and “souvenirs.”
- Simplifying the complex world of money management.
- “Conversation grenades.”
- Why Jeff focuses on curiosity.
Takeaways:
- If you want to understand money management, start by understanding fear and greed.
- When we talk about return on investment, emotional balance sheets are just as important as financial ones. The line between financial planning and therapy is super thin.
- Making the complex simple in terms of money management starts and stays with an unrelenting focus on one’s goals.
- Simple line illustrations can be used to engender problem-solving conversations outside the worlds of finance and money management.
Links
- https://www.linkedin.com/in/thinkingcarl
- https://twitter.com/behaviorgap
- The One Page Financial Plan
“The Behavior Gap” resources
- Behavior Gap Radio (free site)
- The Behavior Gap website
- The Behavior Gap book
329 bölüm
Manage episode 342333825 series 2455407
“As it turns out, personal finance is like touching an electric fence that you didn’t know what electric. Managing our money is not a math problem; it’s a behavioral problem.”
Carl Richards is a Certified Financial Planner™ and creator of the Sketch Guy column that appeared weekly in The New York Times (2010-2021). There, he used simple illustrations to introduce calming financial advice and counsel. He is also the author of The One-Page Financial Plan and The Behavior Gap resources — a book, website, and podcast that provide simple ideas to help us “Stop Doing Dumb Things with Money.” Carl’s goal is to demystify financial planning by focusing as much — or more — on the humans it serves as it does on the numbers.
Topics discussed in this episode include:
- The crash of the housing market in 2008.
- The psychological underpinnings that influence money management.
- Using a tree as an analogy for financial counseling.
- Carl’s sketches as “shortcuts” and “souvenirs.”
- Simplifying the complex world of money management.
- “Conversation grenades.”
- Why Jeff focuses on curiosity.
Takeaways:
- If you want to understand money management, start by understanding fear and greed.
- When we talk about return on investment, emotional balance sheets are just as important as financial ones. The line between financial planning and therapy is super thin.
- Making the complex simple in terms of money management starts and stays with an unrelenting focus on one’s goals.
- Simple line illustrations can be used to engender problem-solving conversations outside the worlds of finance and money management.
Links
- https://www.linkedin.com/in/thinkingcarl
- https://twitter.com/behaviorgap
- The One Page Financial Plan
“The Behavior Gap” resources
- Behavior Gap Radio (free site)
- The Behavior Gap website
- The Behavior Gap book
329 bölüm
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