Do you remember your parents saying “learn from my mistakes”? The chances are we all could have listened to that advice a bit more (certainly the case for me). However, there is no denying that our future behaviour is influenced by the actions, successes and failures we observe from those around us. The professionals call this “vicarious reinforcement” or “observational learning”. Although I’m not sure my parents saying “learn by the vicarious reinforcement of my actions” would have had any impact whatsoever so maybe we should stick with “learn from my mistakes”!
Not to rub it in… but I have been planning a long trip to South Africa and, as many of you probably do when planning holidays, I began by opening my laptop and typing “things to do in Cape Town”. If you are anything like me, you would also have found it overwhelming and offputting being met by 3 million hits and more information than you could read in a lifetime. The laptop lid came crashing down.
I then thought of all the friends who have been to and lived in Cape Town, and thought ‘why not start with asking for advice’? Within hours, I received a perfectly curated list of recommendations. I wasn’t ashamed to admit I didn’t know this stuff, I wasn’t embarrassed to ask and in the end it saved me from wasting a lot of money on doing the average touristy stuff that always seems to reach the top of google searches. Tick tick tick!
When it comes to money you never really see people’s actions, successes or failures. They stay hidden away behind closed doors and double passcoded accounts. Yet money problems are a leading cause of stress (that is real stress, not a minor inconvenience around planning a holiday). I’m reminded of the stat that 94% of employees worry about money and 86% of those with mental health issues had their condition made worse by money troubles. You might think you are alone in struggling with a particular financial problem but the reality is, you aren’t. If we were all a bit more open about our financial highs and lows, everyone would benefit.
Our whole purpose at Best Intentions is to get people talking openly about money. Within our community this has been a huge success. We have been reflecting on this and thought what if we could go bigger? What if everyone could have access to people openly sharing their mistakes and successes with money..?
Drum roll please…………
Introducing the Intention Meets Reality podcast launching 8th November 2021. This 5 episode pilot series has been created with the purpose of sharing honest stories from real people about life, love and the influence of money. We speak to people from all walks of life who openly share the role, positive and negative, money has played in shaping their lives. This isn’t advice or a “how to” guide - don’t worry! These are candid, honest accounts. It doesn’t get any more real than this. We hope that through hearing the stories of others you can take something away that empowers you to take control of your money and strengthen your financial future.
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