Final SM

Question 1

10 Healthy Financial Habits

Answer 1

1. Know where you stand finically
   A. Net worth —> everything you own —> everything you owe
2. Live within your means
   A. Don’t spend more you have you make
3. Save/pay yourself first
   A. Build an emergency fund
4. Understanding debt & credit
   A. Permissible debt: used to purchase an asset
   B. Bad debt: hinders freedom
5. Credit
   A. Builds credit history
6. Set up a financial safety Net
   A. Protection in case of financial emergency
7. Delayed gratification and values-based Goal setting
   A. SMART goals
8. Track your spending
9. Create Financial accountability network
10. Divided and conquer
    A. Create a budget, adopt one habit at a time

Question 2

Kolb’s Cycle

Answer 2

1. Experience: you do something, or something happens which you experience
2. Refelction: time is spent reviewing and evaluating what happened
3. Theorizing: analysis of better ways; consideration of alternatives
4. Experimenting: deciding what to do different, and putting it into action

Question 3

Elements of Solidifying Transformation

Answer 3

Failing well:
• Change your mindset & be optimistic/resilient
o Failure is preparation and an opportunity to grow and learn.
• Take responsibility & initiative amid fear, etc.
• Remember that failure is a result, it’s not who you are.

Celebrating the Wins:
• Celebrating wins and/or progress, big or small, is critical for leaders to create motivation and movement.
• Celebration reminds people about their goals, and proves the process is working.
• Celebration builds confidence and creates motivation
• Celebration proves what you value

Question 4

Definition of Authenticity

Answer 4

representing one’s true nature or beliefs; true to oneself to to the person identified

Question 5

What authenticity does

Answer 5

• Helps people feel comfortable, safe and respected.
• Allows you to be real and not attacking
• Liberates us; gives us the freedom to be ourselves
• Inspires the people around us
• Grows love and intimacy

Question 6

How to develop Authenticity

Answer 6

• Become self-aware; know who you are and what you value
• Seek genuine connection with others
• Don’t pretend to be perfect; its impossible
• Be present and listen
• Offer your true thoughts, feelings and views respectfully and unapologetically
• Don’t seek to please people, but seek to please God
• Be courageous
• Learn from others

Question 7

Prioritizing Time

Answer 7

Focusing first on what matters the most.
 Class assignments
 Social vs. School life

• Track it before you change it
o We must have a “baseline” of how we currently use our resources before we can decide if we are being effective, efficient, good stewards; before we can decide if a change a necessary.

Question 8

What does prioritizing reveal

Answer 8

o What you value
o How limited your time actually is
 Planning fallacy – the expectation that tasks will take less time than they actually do.
o What can wait
o What is most important
 At the end of the day “what will you be most glad or relieved to have done?”
o What the next step is
 What is one small thing you can do now, to move things forward?
o What you might need to say “no” to
o What might be distracting you

Question 9

How to move forward with the unexpected

Answer 9

• Step back and take a break; perhaps engage the mind-body loop
• Take times to pray and ask God for wisdom and patience; take time to listen to God
• Remember that you are a work in progress. When you maintain that perspective, you realize that you don’t have to be perfect
• Be deliberate in your response, not automatic.
• Ask yourself some good questions such as…
o What is my next step
• Control the controllable’s,
• Be proactive; think ahead
• Focus on the present and where you are going
o Don’t dwell on the past; learn from the past
• Focus on the positives and the process