Episode Summary: In this episode of "Financial Advisors Say the Darndest Things," host AB Ridgeway interviews Marcella Mollen Williams, a certified cognitive behavioral mindset coach and flexibility coach, on the topic of setting and achieving financial goals. Marcella emphasizes the importance of attaching value to goals and aligning them with one's core values. She discusses the significance of understanding personal desires beyond material possessions and societal expectations. Through strategies like identifying core values and achieving financial alignment, Marcella guides listeners toward making value-based financial decisions.
Key Takeaways:
- Value-Driven Goal Setting: Marcella highlights the necessity of attaching value to financial goals, emphasizing that the pursuit of goals should be rooted in personal values and desires. She explains that true financial planning goes beyond monetary considerations and involves understanding the purpose of money in enhancing one's quality of life.
- Intangible Values: Marcella explores the concept of intangible values associated with possessions and goals. She illustrates how items once valued can lose significance over time, emphasizing the importance of recognizing and preserving intangible values to sustain motivation and commitment to goals.
- Reevaluating Societal Norms: Marcella challenges listeners to question societal norms and expectations regarding financial decisions. She encourages individuals to redefine their social circles and seek professional guidance to align their financial choices with personal values rather than external influences.
- Core Values and Financial Alignment: Marcella introduces a strategy for achieving financial alignment by identifying and aligning core values with financial goals. By recognizing the impact of societal influences on decision-making, individuals can establish a center and make value-based financial decisions aligned with their long-term aspirations.
- Financial Intelligence vs. Literacy: Marcela distinguishes between financial intelligence and financial literacy, emphasizing the importance of making value-based decisions in financial matters. She emphasizes the need for developing financial intelligence to navigate complex financial landscapes effectively.
Quotes:
- "Everything in your trash can once had value... If we do not place the actual value to the goal, that's where we will struggle with accomplishing it." - Marcella Mollen Williams
- "Sometimes we have to reorganize who we consider our society if we're going to change the way that we think about money." - Marcela Mollen Williams
- "Financial intelligence is the ability to make smart, responsible, value-based decisions with and about money in the face of difficult-to-deal-with circumstances." - Marcela Mollen Williams
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