Identifying Who Worries and the Associated Stressors
The ability to make informed and effective decisions, especially related to personal finances and/or money management, is important for financial well-being. One of the many roles of financial advisors is to provide clients with advice and information to aid in this process. To do this effectively, advisors must be aware of the emotional and attitudinal state of the individual. Emotions and attitudes not only influence how individuals process information but also how they make decisions and ultimately behave. Advisors working with households to improve or maintain their financial well-being should asses client emotions as well as develop tools and techniques to help clients successfully and healthily manage emotions related to their finances.