Your Money Why, or money personality, is the hidden reason behind every financial choice you make. It’s not data that drives money decisions, it’s emotions. Once you understand this simple fact—that you’re emotionally invested—you’ll be on your way to achieving financial happiness now and in retirement.
Most money advisors abide by the “rational man” theory. If you give people enough info, they’ll make a highly rational decision. That’s insane! We are human beings; we are never purely rational. Emotions play a huge role in everything we do. In other words, we are emotionally invested.
When Mary Clements Evans CFP®, CDFA, ABFS opened her financial services firm in 2008, she began experimenting with a completely different way of interacting with clients. Her intent was to create an environment where people would never feel judged or guilty about money decisions. And her practice grew phenomenally. She helped clients identify and understand their Money Why—the underlying reasons behind their financial actions—and things finally made sense to them.
After nearly two decades of “financial therapy,” as she calls it, she’s written this book. It’s aimed at individuals and couples who feel frustrated and overwhelmed by money and have a hard time talking about it. But instead of telling you what stocks or mutual funds to buy, this book contains her most important observations from working with five hundred individuals and families. Chief among them is the different Money Whys people bring to the table, how they subconsciously affect financial decisions and, most important, how to identify yours (and your partner’s). Knowing your Money Why is the first step to achieving financial happiness now and in retirement.
Part I: The Deceptions
Chapter 1: My Why
Chapter 2: The Big Sin and the Big Lie
Chapter 3: Ignore the "Experts"
Chapter 4: Money Is...
Part II: The Emotions
Chapter 5: FOMO OR FORO? Your Money Why
Chapter 6: Four Shades of FOMO
Chapter 7: Three Shades of FORO
Chapter 8: Your Money Marriage
Part III: The Solutions
Chapter 9: Changing Your Money Why
Chapter 10: How to Pick a Financial Advisor
Chapter 11: Your Plan for Financial Happiness
Chapter 12: From Fear to Faith
Chapter 13: The Big Opportunity
Appendix
Acknowledgments
MARY CLEMENTS EVANS, CFP®, CDFA, ABFP® is the founder and president of Evans Wealth Strategies in Emmaus, Pennsylvania, and a Raymond James registered principal. She specializes in helping individuals and couples get over their fear, anxiety and guilt when it comes to money so they can achieve financial happiness now and in retirement.
Mary earned a BA in accounting from Temple University, and spent twenty-five years in corporate finance with Exide Battery, Goodall Rubber, Kellogg's, and Rodale Publishing before starting her firm in 2008. She is an international speaker and has been named to Raymond James Chairmans Council for six consecutive years.
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