Show notes
How Your Personal Financial Psychology Affects Your Business SuccessFinancial psychology encompasses our beliefs, attitudes, and values regarding wealth, spending, saving, and investing. The development of our financial psychology begins in childhood, as we observe and absorb the attitudes and behaviours of our parents and caregivers towards money. Through their actions and conversations, we start to form our own perceptions about money and its role in our lives. These early experiences and beliefs become ingrained in our money psychology, acting as a map that guides our financial behaviours and decisions both as individuals and in business ventures.
Therefore, understanding our personal financial psychology is crucial for achieving success in business. It influences our risk tolerance, decision-making processes, and ability to adapt to changing circumstances.
Join this conversation with your host, Emma Edwards, and learn how to gain clarity by recognising and addressing your money psychology, developing healthier financial habits, and making more informed choices that positively impact your business endeavours.
Episode Highlights:[00:01] Episode intro and what’s in for you today[01:54] How is your financial psychology? [03:40] The nature and nurture of your financial psychology[07:40] How our financial behaviors are based on individual financial psychology[09:42] How your default money script comes into existence when in business[12:38] The power of your financial psychology as an individual and business[18:07] Commercial Break[19:16] Your responsibility for business earnings[23:36] Examples of how financial psychology may show up in your business[32:14] Exercises you can undertake to take charge of your financial destiny [37:52] Call to action and ending the show Standout Quotes: “Two people can have the exact same experiences but have a completely different set of beliefs as a result. That depends on their financial psychology.”- Emma [07:40]“Our money scripts and beliefs defines how we manage money as individuals, the way we earn it, spend it or save it.”- Emma [11:13]“You are completely responsible for your earnings in business.”-Emma [19:23]
Thanks to our Season Sponsor H&R Block.
As Australia’s leading tax experts, the team are here to help, offering on-going support for individuals and small businesses, and FREE BAS services for all newcomers. Get more, for sure, with H&R Block.
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