Unit 2 Flashcards
Define Value
Values:
- “fundamental attitudes guiding our mental processes and behavior”…
- … that “produce the belief that life is meaningful….
- … and serve as a measure of how meaningful one’s actions are, that is, consistent with that person’s value system”
[simply] Values are what a person finds to be important and wants to be doing with his or her life.
Why is it important to understand values?
Understanding your values gives you permission to design your life based on what is deeply important to you
Define Value Congruence & Value Incongruence
Value Congruence: the extent to which an individual’s behavior is consistent with their stated value.
Value Incongruence: occurs when behaviour contradicts a person’s values
- Likely to procrastinate with this
Can lead to dissatisfaction
Why is the topic of value important for financial Planners?
It helps clients prioritize what most important to them can help prioritize their goals and help them feel good about them
what is the relationship beteen these two: Values and Life Satisfaction
Lack of connection to your values can lead to dissatisfaction
What is the difference beteen Values Vs Goals
Values: are intrinsic and never fully fulfilled.
- For example, creativity is a value that isn’t “achieved” with one creative project.
Goals: should be aligned with your values to experience more meaning and avoid procrastination.
how can we deconstruct our values
Deconstructing Your Values
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To identify your values, examine your upbringing and the values impressed upon you by parents or culture.
○ Ask: What did your parents value? How were you rewarded or punished? -
Reflect on your current life to identify the values reflected in:
○ Career choices (e.g., teacher valuing education vs. investment banker valuing wealth).
○ Living environment (e.g., urban vs. rural preferences).
○ Activities and conversations (e.g., politics, art, religion).
○ Spending habits (e.g., charity, luxury goods, experiences).
What is the consequence of blindly adopting societal definitions of success?
What should people actually do?
lack of true fulfillment
Do: Defining success based on personal values is essential for finding happiness and real success, even though it may not always be easy
Popular culture promotes values like wealth, power, status, and appearance as markers of success, often leading to “_”.
dissatisfaction.
Values are principles that guide how you live and work, shaping priorities and “_”
decisions.
Awareness of your values guides “_”
decision-making
- Values are dynamic and may change over time as priorities shift, such as transitioning from career-focused success to work-life balance.
Therefore, idnetifying your values is a “” but “” exercise
challenging. crucial exercise
