Let’s Take the Elephant Out of the Room

Money is typically a taboo subject. It’s the elephant in the room. When the topic of money is raised, it’s awkward for many people. It brings up beliefs, judgment and comparison – overall, it can be stressful.

But to grow and make the right decisions, it is essential to be able to talk about money. If we understood more about ourselves and our relationship to money and the energy it produces, talking about it would be as natural as talking about the weather.

Omnipresent money energy

Conversations about money are not just the domain of a financial advisor – they are the domain of every professional playing a role in a person’s life, given the omnipresence of money. This is why I am so passionate about advisors and coaches embracing their Money Energy (ME); my wish is for them to bake it deeper into conversations with clients when making high-stakes decisions.

So, what is Money Energy? It is the power and capacity to generate wealth that becomes a stored force releasable into your life at any time. Everyone has experienced it but may have not known what it is. It’s measurable. It’s controllable. And it’s in our behavioral DNA.

Everyone has money energy and can amplify it by knowing themselves. By transforming mindsets and striving for equilibrium and balance in all aspects of life.

Money is all-pervasive

Every person’s relationship with money is based on who they are fundamentally and their view of life. It is a combination of natural and learned behaviors.

If money being all-pervasive in our lives does not ring true with you, take a moment to consider your own life and how and where money fits into your world. It is always there and an inherent part of any equation, whether it is a career, life or a leadership decision.

Yet, money is a huge source of stress. Understanding the unique financial stress points and helping people build a healthy relationship with money is incredibly important. In fact, for any advisor, I would say it is foundational to the job.

And learning to talk about money is essential to amplifying money energy. As an advisor, you must encourage a balance between the heart (relationships) and the mind (results) to ensure clients make quantum leaps in their thinking and their investment decisions.

Talking $ is not a math problem

I know you know that the platinum rule of conversations is to know the right questions to ask. This is especially true for Money Energy conversations. So, keep conversations safe and manage emotions.

At the same time, don’t shy away from talking about health and happiness concerning money. Be prepared for this in-depth conversation to reveal insight that will radically change how you advise and guide your clients and their money.

Remember, talking about Money is not a math problem; it’s a feelings problem.

Understanding & measuring

A friend shared her experience advising a couple who wanted to add to their property portfolio. The woman was serious – the saver, the cautious one, the wise investor and the one keen to extend their portfolio. The man was very strategic – the opportunist, a risk taker, keen to speculate to increase their wealth but wanted to have fun while doing that. They should be on the same page – but weren’t!

The elephant in the room wasn’t just money conversations; there was something more incongruous. The advisor was aware of the different money energies between the couple and determined to reveal the gap by getting them first to address their goals, life desires and purpose. The advisor didn’t direct the discussion to money at this stage: If direct money questions arise too early before the client’s identity, goals and desires have been discussed; the conversation will likely be derailed by emotions.

With careful questioning, the advisor could see areas of agreement and areas of blockage as the couple individually responded to the following:

1. What is your identity and life purpose? Both considered character and integrity as their identity and civic duty, creating a better world as their life purpose.
2. Create an image in your mind of a quality life, i.e., happy, healthy, and prosperous.
   1. The woman: Protecting and carefully increasing their wealth for the next generation.
   2. The man: Enjoying the fruits of their labor.
3. What is the meaning and role of money in your life? Both agreed that money is a tool to deliver life’s purpose.

As the conversation continued, the advisor established that the man had had a health scare some years ago and wanted to invest in his health, quality of life and happiness, and remove stress from his life. He had become aware of how his stress levels had increased significantly and realized that every part of his decision-making life found its roots in money. These facts were previously unknown to the advisor.

Conversely, the woman had translated her partner’s health scare into her need to be the money gatekeeper without realizing that she was now anxious about money and their decisions.

At this point, the advisor explained to the couple the role money energy has in their life and how understanding and measuring money energy would help them live a more balanced life.

Attenuate financial stress

Regardless of wealth accumulation, financial stress makes us vulnerable to making unwise choices about our money that are not authentically aligned to our natural behavioral style and acceptable decision-making habits. This includes spending and saving, risk tolerance, and building a fully integrated quality of life.

Financial stress and its pitfalls can disrupt your money energy and all life energy sources, as they are (again) interconnected. So, mastering our natural behavioral style and building an enhanced relationship with money also influences our psychological, spiritual, physical and eating habits.

It’s no surprise then that, once the advisor got the couple talking, she made them aware of how the impact of money energy was influencing their decisions. Further, they could see how Money Energy-insight is vital to building and sustaining a desired lifestyle, purpose and commitment.

Now aware of their Money Energy, the couple thought more about what was important in their life – and the role money would play in delivering a balanced life, especially focusing on health and happiness at the forefront of financial decisions.

If you want to unpack more about Money Energy, you can at no cost grab the Mastering Your Money Energy white paper I released late last year. Then, let’s talk money energy, as my research in this area is ongoing and always evolving.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.