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Financial Literacy Month: The Transtheoretical Model (TTM) of Behavioral Change

Financial Literacy Month: The Transtheoretical Model (TTM) of Behavioral Change

Change is all around us whether we are aware of it or not. Some people choose to change; others resist it. Change is complicated and it is fluid. Understanding the change process is invaluable when working with clients to improve their financial wellbeing.

Financial Social Work (FSW) incorporates the Transtheoretical Model (TTM) of Behavioral Change (Prochaska & DiClemente, 1983; Prochaska, DiClemente, & Norcross, 1992). This wonderful model combines a number of different theories that make it applicable to a broad range of uses (settings, behavior, populations, etc.) and perfect for FSW.

Financial Social Work is an interactive, introspective financial behavioral change model which is heavily psychosocial. Including TTM as part of FSW, helps certification students and graduates recognize where their clients are in the change process and facilitates their working with clients according to their clients’ readiness and willingness to change.

Helping clients achieve sustainable, long-term behavioral change depends on meeting them where they are in the change process rather than expecting clients to adapt information and skills which aren’t applicable to their current change status.

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Financial Literacy Month: What You Need to Know and Do About Identity Theft

Financial Literacy Month What You Need to Know and Do About Identity Theft

If someone wants to steal your identity, mostly likely that person will be able to. Don’t take it personally though. You probably weren’t chosen specifically, but were just in the wrong place at the wrong time = an easy target. That reality may not sound or feel good but hopefully it can serve as a wake-up call to do all you can to protect your identity.

An estimated 17.6 million Americans had their identities stolen in 2014. The more “fortunate” victims only experienced the most basic inconveniences of the crime. The remainder of those men and women lost a significant amount of time, work and money during their quest to reclaim their lives. Identity theft is an experience which leaves victims feeling helpless, stressed and frustrated.

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Financial Literacy Month: A Collaborative Approach to Financial Wellbeing

Financial Literacy Month A Collaborative Approach to Financial Wellbeing

A foundational component of Financial Social Work is the belief that the relationship someone has with his/her money and self has a major impact on that person’s financial circumstances. The theory of relationship and financial wellbeing carries forward to the role of a financial coach, therapist or educator. Regardless of the program, topics, or issues being addressed, the client must feel a rapport with the “expert” (coach, therapist or educator) in order for change to happen.

Rapport is the result of a positive and trusting relationship within which two people respect each other and feel safe and comfortable sharing their feelings and ideas. It is a collaborative environment in which personal and financial growth thrive.

A collaborative approach is quite different from the traditional approach of the “expert” imparting knowledge to passive recipients. That approach fails because increasing knowledge and skills does not provide a sufficiently substantive experience. Clients are unable to receive, memorize and integrate information into their lives that is not within their frame of reference. If any level of change is achieved in this way, it is certain to only be temporary.

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Financial Literacy Month: Healing Your Relationship With Money

mother teaching son about saving

Everyone has a relationship with money. That relationship provides the foundation for all financial behavior. Our relationship with our money reflects how we feel and think about ourselves, about our past financial experiences and future financial expectations. It’s influenced by family, gender, age, religion and the economy.

Our financial beliefs evolve from our relationship with our money. Those beliefs form our financial behavior. Financial behavior, how we earn, spend save and share, determines our financial circumstances (how much money we have, owe, need).

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Join Us in Celebrating Financial Literacy Month and Win!

financial literacy month celebration

April is Financial Literacy month – that’s a good thing even though most people need to focus on their financial wellbeing much more regularly than monthly. Two-thirds of Americans are stressed about finances, almost half have trouble paying their monthly bills and forty percent are financially illiterate.

These men and women are our clients. They struggle because they have no (or very little) savings, assets, emergency or retirement funds. Their unstable financial circumstances jeopardize their mental, physical and psychological health as well as their financial and overall wellbeing.

Financial problems are a major stressor in people’s lives. One of the primary reasons is because they focus more on avoiding or denying their existence and less on trying to improve them. Countless numbers of people desperately need help improving their financial circumstances and Financial Literacy month is an excellent time to do so.

To help get everyone get excited and talking about their money during Financial Literacy Month, we are hosting a free giveaway each week that encourages you to get involved, get connected, and participate.

Weekly Giveaways!

  • Each week of this month we will blog about an important money topic, including an exercise, discussion topic, and giveaway.
  • Your participation in the discussion topic will be rewarded! We will select one person at random each week to receive free entry into the Financial Social Work Certification Program.
  • A total of four certifications will be given away in April.
  • Each week’s winner will be randomly chosen from all entries and announced via social media Monday mornings and contacted via email. Follow the instructions in the giveaway widget to earn extra entries to increase your chances of winning.

Giveaway & Lesson Schedule

Each week of this month we will blog about an important money topic, including an exercise, discussion topic, and giveaway. Participate each week!

Discover How Personal Finance Speakers Can Address Underlying Behaviors and Empower Financial Change

personal finance speaker

As a personal finance speaker looking to help others achieve financial security, you understand the toll financial problems take on people’s lives. Financial issues are the number one cause of divorce and the number one stressor in people’s lives. They are also a major cause of depression, anxiety, child abuse, crime, and drug/alcohol abuse.

What if we told you there was a better way for you to help others mired in uncontrollable credit card debt, a lack of savings, no funds set aside for retirement or other financial problems? What if, as a personal financial speaker, you could not only offer the financial skills, financial education and financial know-how to those who come to hear you speak, but also offer a way for others to change the underlying behaviors which are the driving force behind financial problems?

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