Help Clients Achieve Serenity and Stability 

By Riley Saunders, CFP® 

FPA NetGen 2024 Content Creator

Financial wellness tends to be measured in quantitative fashion. For example. One may point to their account balances as a total reflection of their financial well-being.  

Budgeting and spending wisely form the bedrock of your financial wellness, guiding individuals towards a secure future. However, financial wellness also embraces the emotional and psychological dimensions of our relationship with money. 

Saving and investing aren’t merely monetary transactions; they’re akin to planting seeds for a flourishing future. You slowly build these positive habits over time with consistent, repeatable actions. These habits, when nurtured with mindfulness, contribute not just to wealth accumulation but to a sense of purpose and security. 

That said, I want to spotlight the human mind’s intricacies. An emergency fund acts not just as a financial buffer but as a psychological safety net, alleviating the stress associated with unexpected expenses. 

Educating oneself about personal finance becomes a journey of self-discovery, empowering individuals with the knowledge to make informed decisions. Retirement planning and setting financial goals transform from administrative tasks into emotional anchors, providing direction and fulfillment. 

At its core, financial wellness represents a delicate equilibrium between the numbers behind the financial plan and your emotional well-being. Recognizing and acknowledging your financial flashpoints and biases are integral as we navigate the emotional landscapes intertwined with our financial choices. 

In a world where success often wears a monetary facade, it’s our duty as financial planners to explore these conversations further with our clients. The psychology of financial planning unveils a path where financial well-being isn’t purely reflected by your account balances, but a space where mental serenity and financial stability coalesce.  

As seen in the Journal of Financial Planning, May 2024 issue.

Disclosures: Material presented is meant for general illustration and/or informational purposes and should not be considered as personalized financial advice.