FINANCIAL Wellbeing – In April 2021, our chief executive, Peter McGahan, was asked to contribute to the World Health Innovation Summit digital magazine ‘Inspire’.
The article, entitled Financial Wellbeing – Humanity’s Emotional, Ethical, and Financial Turning Point’ was published in Inspire, a digital magazine which explores the fields of healthcare and sustainability to provide the tools and inspiration that empower individuals and their communities to make a difference to their lives and others. Have a read of the article below and decide – are your nine emotional human ‘givens’ being met?
“There is no denying that the last 14 months has been an experience of a lifetime for many. We can dwell on it, or, look for the opportunities to make this chapter a mental, emotional and ethical turning point for humanity.
It’s our call.
In the future, we can see that this planet is thirsty for change. Take this opportunity by just stopping and paying attention to the countless messages which have existed for some time about life, its balance and humanity.
In a normal day, we say 16,000 words. How many more are thought? And how many are talked about at us in noisy, noisy data?
Financial Planning is often talked about in terms of numbers, reducing debt and maximising more wealth. Is that a disconnect? A disconnect which means we never reach contentment?
Financial Planning
Understanding yourself and what matters is the first and foremost skill in financial planning. Lockdowns have had a catastrophic impact on our nine emotional needs. Psychology shows that if just one of these nine needs are not being met we can suffer significant distress and anxiety.
Most importantly, when they are not being met, we turn to unhealthy solutions – alcohol, drugs or spending money for that one extra pair of shoes. These are some of the many – most of which are followed by guilt and debt, which, of course, creates a negative downward feedback loop.
Right now, if I asked you to score yourself out of 10, to the degree of which they (your nine emotional needs) are being met, it probably wouldn’t be pretty.
So, it’s normal to feel bewildered.
Society is right now.
Financial Wellbeing
Taking a positive stance to these needs is key. Being effective involves leaning into future failings rather than chin up, stiff upper lip, be positive.
If we chill in our being effective hammock we learn what’s important to us and how financial planning can assist us. These emotions guide you to which values really matter and allow you to approach solutions in a values driven and productive purposeful way, a way which is meaningful to you and allows you to be mindful in the process.
For example, does buying a new debt driven car alter the emotional needs of a sense of status in social groupings? If we approach financial planning in a way which means we are taking care of our emotional needs then we can be targeted and meaningful to ourselves.
This gives our goals and meaning to our subconscious, and, as such, ensures success because they matter.
Moreover, if we are in control of those nine emotional needs, the wheels are less likely to fall off in the first place.”
The nine emotional Human ‘Givens’ are;
- Security – a safe territory, and an environment which allows us to develop fully
- Attention – to give and receive it – a form of nutrition
- A sense of autonomy and control – having volition to make responsible choices for
- Emotional intimacy – to know that at least one other person which accepts us totally for who we are
- Feeling part of a wider community
- Privacy – an opportunity to reflect and consolidate experience
- A sense of status within social groupings
- Sense of competence and achievement
- Meaning and purpose – which comes from being stretched in what we do and think
See what other topics are covered in this issue of WHIS Magazine
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