Right now, in the midst of a government shutdown, it feels like we live in odd times. Politics are not my area, but so much of the time
it intersects with financial security, and what it means for an individual’s situation. With everything we face nowadays, the word “security” doesn’t seem to mean what it used to.
The New Definition of Security
Security is supposed to mean dependability, safety and protection—and that’s what people want in their financial lives. But when I think of the word “security,” the first term that pops into my mind is Social Security—and Social Security doesn’t bring to mind dependability, safety and protection. It brings to mind gambling, uncertainty and to a certain extent, government incompetence.
Security doesn’t have clear connotations. When someone says they want “financial security,” it feels ambiguous. What I think they are really saying is, I am afraid of what will happen if I DON’T achieve financial security. They have no real vision of what financial security looks like, but they do have a vision of what they don’t want. Financial security becomes the catchall for financial ambiguity and fear.
Shift Your Focus
I’ve never made a good decision out of fear or because I was opting for more security. This is why I call my business Creative Money…I would much rather think about the possibility of more options, more solutions and more inspiration through a person’s money than to focus on the fear. When you’re fired up about possibility, you tend to work harder, save more and have a clearer vision than when you’re afraid. Can you imagine if we took Social Security and renamed it Social Possibility???
It’s the difference between thinking with our heads versus thinking with our hearts. Logically, we know we should want financial security, but in our hearts, we really want financial adventure, expansion, triumph. Our hearts point us to where our motivations really lie.
To make better financial decisions, to achieve the financial success you really want, you have to ground your decisions in your motivations. Here’s a way to figure out what those are:
- Think of a financial decision you felt really good about. If you can’t think of a financial decision, think of a time when you felt really prosperous. Remember as much about it as you can, and spend a few minutes thinking about it.
- When you think about that time, what feelings emerge? Try to identify 3-5 feelings.
- Now identify: what values or motivations are those feelings connected to? Everybody and their brother have a core values list you for to Google. But pay attention when you assess your values: are you choosing words you think you should want, or are you choosing words that light you up?
My Values Anecdote
Recently, I was on the fence about a financial decision. I have been thinking about creating a digital magazine because I have so much fun choosing photos for my blog. I love design work and want to learn more. And even though I don’t need to know that stuff for my business, I like doing it–it really speaks to my value of creativity.
Anyway, I noticed an online program available to help start a digital magazine. The program promised to take me through planning, publishing and promotion…but that didn’t excite me. I already know myself: I execute like crazy. So, a program that promises I’ll “get it done” doesn’t appeal to me, because I already know it will happen. And my magazine vision is more a “creative” idea than a money making idea.
I almost didn’t do the program, but then came one of the last emails with an additional offer: If I publish my magazine by January 2014, the program sponsors will promote my magazine to the thousands of people on their list. This offer activated another one of my core values: recognition.
(Sidebar: It took me a long time to admit to myself that I hold this value, because it doesn’t seem very high-minded. But I can point to thousands of examples in my childhood that support how motivated I am by recognition. Who does plays and musical theater for 15 years and NOT want recognition? So yes, I am an attention whore.)
Once I saw this program as a means to be recognized by potentially thousands of people new to my website, I was in. Plus, one of my ongoing goals is to build my email list (which speaks to my core value of expansion).
In a moment, what had previously been a decision I was procrastinating on became a no-brainer for me. And that’s what people need to see with their financial decisions: Is it a no-brainer, because you know what value is supported by the decision, or is it unclear what you would get back?
Some people are afraid that their values will cause them to overspend or make bad choices. When people hear I value recognition, they think I must spend a lot of money on appearances—good clothes, good car, etc. But my value of consciousness and being down-to-earth tend to keep me make-up free and in sweats most days.
Actions This Week
- Apply The Process. Go through this process and identify 3-5 values that come up for you when you’ve made happy decisions for your money.
- Practice Consciousness. As you go through your week, notice what you’re buying and what values it speaks to. You might even notice a value at work as you choose to buy one kind of coffee versus another, for example.
- Keep Your Values Front and Center. You might want to print your values on a pretty piece of paper, or on a card that fits in your wallet.
- Be Flexible. You might not see how a financial choice fits into your values but feel compelled to do it anyway. It might be time to add a value to your list, or explore the nuance (like I did with recognition).