Do you ever find yourself explaining the decisions you’ve made based on your current finances? Maybe you’ve justified the purchase of a $30K car because new tires for your old vehicle cost $800, and why not just buy something new?
In this video, James Lenhoff, president of Wealthquest, shares how the financial explanation of our decisions doesn’t always stem from sense but rather from emotion.
Whether it’s an investment in a new home, a nicer car or a big vacation with your family, you don’t have to feel obligated to justify the expense based on financial sense if it’s not true. What is the real motivation behind that decision? Sometimes, we just want to invest in something and that’s okay too.
When we can be honest with one another in our conversations about our finances, it fosters deeper connection and allows for open communication. Give yourself the freedom to be authentic with yourself. If you’re trying to justify your actions with math versus with emotion, you may get yourself into trouble.
Maker clearer decisions because it’s what you want and because it makes sense financially.
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At Wealthquest, you’ll discover a new approach to wealth management where your investments, tax preparation, and estate planning services are offered by one team of fiduciary experts, all under one roof, for one simple fee. Wealthquest is a fee-only financial planning and wealth management firm focused on the integration of your life and finances. Regardless of your account size or stage of life, our firm can help.
