Each unit includes two sections: The Head Matters and The Heart Matters. The Head Matters provides you with the knowledge and skills (head) to better manage (behaviors) your personal finances. The Heart Matters are designed to provide you a better sense (heart) of your thoughts, feelings, opinions, and expectations (beliefs) around money.
We’ve developed this course around the work of the famous cognitive psychologist, Dr. Albert Ellis. Dr. Ellis developed the idea that our unclear thoughts and beliefs can lead to our unhealthy behavior. Cognitive behavioral therapy says that other people, situations and events aren't responsible for your mood and behavior — you are (source: http://www.mayoclinic.com/health/cognitive-behavioral-therapy/MY00194).
We are applying his psychological model to personal finance. We base our suggestions, exercises and examples on a blend of past and current research in behavioral science, information from the Financial Planners Association of Colorado and on our conversations with Colorado families and students.
Are our thoughts and feelings about money really that important in personal finance? We assure you; they are. Let’s explore how our thoughts and feelings affect our behavior.
Here's an outline of what we will cover in this course:
Understanding Mood and Money
- Explain the link between self-worth and personal finances
- Define self-worth
- Create your own money mindset
- Describe the buyer's remorse cycle
- Describe the relationship between stress and personal finances
- Understand what stress is
- Distinguish between the "big stuff" stresses and the "small stuff" stresses
- Show how love, marriage and money interact
- Describe the connection among thoughts, feelings, and behavior using the Schachter-Singer Theory of Emotions
Identifying and Modifying Feelings
- Describe the consequences of our beliefs
- Explain how the negative consequences of our irrational beliefs can be modified through the exercise of disputing