Listen to an interview of Dr. Margaret Cochran, a psychotherapist and host of “A Mental Health Moment.”
Under discussion are the reasons many of us don’t fully address our financial planning needs and how we can overcome these problems. Dr. Cochran talks about handling our fears, procrastination, and the mindset that make some successful and others not.
This last topic, what Dr. Cochran refers to as “plenty vs. paucity,” is a powerful theory and she has made it her mission to educate the public on this topic. Dr. Cochran believes that each of us forms our basic understanding of the world and the opportunities it provides us in childhood and that from there on we are separated into two camps, those who view opportunities as endless and those who view them as finite. By recognizing which fundamental belief system we hold, and the repercussions of those beliefs, we can re frame our entire view of the world and benefit from the change. Although we only touch on this topic, it is something you will undoubtedly hear more about in the future.
Learn more about the behaviors that prevent people from establishing a concrete financial plan are issues that each of us deal with to some extent. Every listener will identify with some part of this conversation and recognize these behaviors in friends and loved ones. The good news is that once identified, the reasons for inaction are overcome and each of us can move closer to our goals of maximizing our financial lives.