What I Learned at the Women's Wealth Workshop: Your Psychology and Money

Last Sunday at , we in a three-part series about financial issues specifically geared toward women. The final presentation focused on how our beliefs impact our decisions. Patti Davis, of Patti Davis Counseling, located in Bellevue, shared how thoughts lead to feelings, which then lead to behaviors. If we alter our thought patterns, we can gain control over how we feel and-ultimately-how we behave.

Practicing thought control is very useful in helping us make sound financial decsions. For example, if you want to save a significant retirement nest egg, but you find that you are making very little progress toward that goal, you might ask yourself some simple questions, such as: I wonder why I am choosing to spend my money on items or experiences when what I really value is a comfortable future? Or, I wonder what someone else (pick someone who you admire in this area) would do in this situation?

Patti interacted with the attendees and asked us to consider the behaviors around money that we wanted to change and how we feel about those behaviors. Then, she asked everyone to consider the thoughts or beliefs that keep the behaviors in place. She also asked us to consider "cleaning out our filter" and ask ourselves some simple, targeted questions which can help us change our behaviors and outcomes, not just with financial issues but with other life challenges, as well.

Debbie Walter, a Realtor with , shared her insights into the current real estate climate. She shared some very positive statistics about the future of our local economy and how population growth should contribute to a strong real estate market in the ensuing years.

The presentation was sponsored by Studio 904 and Soundmark Wealth Management, LLC. Wine and refreshments were served and all of the attendees received goodie bags to take home. The next Women's Wealth Workshop will be held on January 29, 2012, and the topic is College Planning. We hope to see you there!