In our previous discussion on the pillars of financial success – Intention, Action, Practice, and Consistency – we touched upon the significance of maintaining progress towards our goals.
However, a common hurdle we often encounter is the ease with which we slip into making excuses, especially when the path becomes challenging.
Inspired by Dr Susan David's insights on emotional agility, this blog takes a deeper dive into the world of excuses. We explore how these seemingly benign explanations can subtly derail us from the changes we aspire to make, particularly in the realm of financial decision-making.
And, we’d like to just say this upfront: this is hard to change. None of us get this right all of the time, but it helps to spark a conversation about it.
The Subtle Art of Excuse-making
We often craft explanations for our actions that, while valid on the surface, can sometimes morph into excuses that undermine our true intentions. Recognising when we’re making excuses, especially those rooted in avoidance, is crucial. For instance, postponing a crucial financial meeting or avoiding a discussion about debt with a partner might be symptoms of deeper avoidance.
Identifying Emotional Underpinnings
Excuses are often accompanied by uncomfortable emotions like anxiety or shame. These emotions can be signals, alerting us that we’re not being entirely honest with ourselves. Maybe the discomfort of missing a family event or a financial deadline is more about our priorities than the external factors we blame. Acknowledging these emotions can be the first step in addressing the real issues at hand.
Three Steps to Reclaim Your Agency
Prioritise values over comfort: When rationalising actions or inactions, it’s essential to ask, “Am I aligning with my values, or am I avoiding discomfort?” This is particularly relevant in financial planning. For instance, the discomfort of discussing estate planning is often overshadowed by the values of security and family wellbeing.
Think beyond the present moment: Short-term relief provided by excuses can lead to long-term regret. We encourage clients to consider how their current financial decisions will impact their future selves. Will avoiding tough financial decisions now lead to regret or hardship later?
Change your perspective: Sometimes, we need to step outside our situation to see it more clearly. Imagine advising a friend in a similar financial situation. This can bring clarity and help break the cycle of excuse-making.
Excuses are a natural part of the human experience, but unexamined, they can keep us from living our fullest lives, both personally and financially. At Succession Financial Planning, we believe in confronting these excuses head-on, guiding you towards financial decisions that are in harmony with your deepest values and long-term goals.
Let's work together to build not just wealth, but a life of authenticity and purpose.