Event Highlights:
We recently hosted an evening with the excellent Dr Moria Somers, exploring the psychology of money. Dr Moira is a clinical psychologist and family wealth consultant based out of Winnipeg, Canada.
She is the global authority on her topic and did a fantastic job at getting people talking and opening up about their own financial journeys – and how money has impacted their feelings and emotions.
Introduction:
To start the night, we had a few thought-provoking statements from Keith and Josh to get the groups brains thinking and to get everyone mingling. Josh began by posing a few big questions to the group. This forced our lovely clients to mix with each other, as they found new partners to discuss each question. As is always the case, this felt a little awkward to begin with… but soon everyone started to realise that they are all actually wonderful people, have plenty of common ground… and nobody bites!
Dr. Moira Somers:
The very talented Dr. Moira Somers then took to the stage to enlighten us on her topic of the psychology of money. She began by sharing her own financial journey and a personal story about how money had provided her with security at an early age whilst travelling alone and how it helped her to get out of a sticky situation. This has since created an attachment to the idea of “money can save me”, which she acknowledges as a learned experience and now embraces. Her continued words of wisdom got the room talking as she prepared for her next subject, which required some audience participation…
“Emotional Baggage”
Moira moved on to an interactive session, where she discussed emotions and how different memories of money bring back certain feelings. She started by asking the room what our earliest memory of money was. Then, we were all prompted to draw a picture and write the emotion that came alongside that memory. Maybe it was our very first pocket money, or the very first time your parents allowed you to pick out a toy in the store? It could be something more profound, or even a negative memory. Here are a few example responses;
- First bike – “feeling pleasure and independence”
- Crashing their car – “feeling ashamed and unhappy”
- Saving money – “feeling happy and learning saving is good”
- Receiving sweets – “being rewarded for good actions”
She then asked the room to recount a precise money memory that invoked a particularly strong emotion. Here are a few examples;
- First job – “unhappy, but learning the value of hard-earned money”
- Renting/buying their first house – “hopeful”
- First house – “fear that I might lose what I now hold so dear”
- Making their own money – “perspective”
- Wasting money – “disappointment and frustration in hindsight”
Finally, the room was asked about a recent strong money memory and how they felt:
- Being able to afford the car they wanted – “freedom, satisfaction”
- Learning the power of their money – “empowered to leave behind career and working identity”
- Travelling – “having enough, happiness”
- New career – “nervous, have I made a mistake?”
After discussing our feelings about money, we all needed a well-deserved break to replenish ourselves and grab another drink. We were fortunate to have chef Elliot Barrs with us to share some fantastic canapés, which were a great hit. As the boossties carried canapés around the room it was clear the audience was buzzing from being given the opportunity to reflect and share their emotions – not something that modern life allows much time for.
The final exercise Moira used was a “Keep, Modify or Discard”. She handed out sticky notes and asked all of us to write down behaviours we have around money and whether they should be kept, modified or discarded…
Keep – the memories we should embrace
Modify – the memories we should work on
Discard – the memories that do not positively serve us
This exercise was a great opportunity for everyone to be openly vulnerable about their money habits, in a friendly environment. Identifying those we no longer want (and should discard) and reminding ourselves of the positive emotions and habits we have (which we should keep) was a powerful exercise.
It was interesting to see that although our clients represent a diverse range of people, by talking to each other openly, they shared many values, interest and emotions. It was a nice continuation from our recent ‘Illuminate’ event, where we had also identified those same shared value. You can learn more about Illuminate here: LINK
To finish off the night, we had a few closing words from Keith, thanking everyone: Dr. Moira Somers, our Chef Elliot Barrs, our local wine suppliers Wisson Hill Wine and everyone that attended.
To top it all off, at the end of the night everyone received a boosst tote bag filled with goodies, including our favourite book (‘Enough’ by Paul Armson), a Cadbury boost bar, and a bottle of wine to continue the conversations in the comfort of their own home.
We want to say a massive thank you to all our clients who attended the event; we hope you all went away with lots to think about!
