When it comes to money, most, if not all people, have a personality or type. And the key to managing your money better is to know yourself and your “money” type, according to FPA member, Deborah L. Price, founder and CEO of the Money Coaching Institute.
According to Price, it’s important to take into account your cash flow and your net worth when building a financial plan. Your income and asset cash flow are vehicles to help you reach your goals, be it retirement or something else. However, it’s just as important to learn why you want to reach those goals or destinations. You want to understand and resolve any of the ‘potholes’ — patterns of beliefs or behaviors that you have — that may prevent you from arriving at your destination, Price said in a recent issue of FPA’s Journal of Financial Planning. (more…)
