P$yFi | Psychological Finance: Recent Episodes
The Redstone Rocket
Learn how your brain and your money can work together to help you achieve financial success and stability.
*The information provided in this podcast does not constitute a formal endorsement of any company, its products, or services by the military. Specifically, the appearance or use of external hyperlinks does not constitute endorsement by the military of the linked websites, or the information, products, or services contained therein. The military does not exercise any editorial control over the content you may find in these resources. The intent is to provide informative material to assist Soldiers and their families in identifying or exploring multiple options.
In this episode, host Olivia is joined by Emily Baggett, a Legal Assistance Attorney, to discuss the psychological, legal, and financial impacts of social media "finfluencers" and "lawfluencers." This includes how uncredentialed or inaccurate online advice can lead to real-world financial and legal pain. We examine the psychology behind why these charismatic content creators hook us using FOMO, social proof, and parasocial connections. Emily and Olivia share humorous stories with how they, too, were reminded to put more faith in human expertise than virtual expertise. We also dive into stats from Dr. Bruce Ross's talk on "Finances, Feeds, and FOMO," showcasing the massive scale of the influencer economy. Finally, we explore the pitfalls of sycophantic AI chatbots and social media echo chambers, emphasizing the irreplaceable value of credentialed professionals. Tune in to learn how to build healthy boundaries around online content, safeguard your personal data, and protect your hard-earned money!
FINRA Broker Check
Barred Brokers
Check out Your Investment Professional
Alabama Bar Attorney Lookup
All other Attorney States
Olivia takes a deeper dive into the gambler’s mindset and the dangerous ‘cognitive conversion’ of real money into gambling money. Olivia reviews the latest National Survey on Gambling Attitudes to identify key risk predictors, including online access and frequent sports betting. This episode highlights the severe collateral damage to families, revealing how gambling often intertwines with domestic and economic abuse. For our Department of War audience, we outline how gambling-related debt directly threatens security clearances.
https://responsibleplay.org
https://winningbackmylife.com
For Redstone Arsenal employees: Book a Financial Session with Olivia
For geographically separated military members: Find a Personal Financial Counselor
For DoW Civilians not attached to Redstone Arsenal, contact your Employee Assistance Program
More Resources:
National Problem Gambling Helpline
1-800-MY-RESET
Crisis Text Line
Text "HOME" to 741741
Gamblers Anonymous
12-step support for individuals. https://gamblersanonymous.org/
Gam-Anon
Support for friends and family members: www.gam-anon.org
Veteran/Military Crisis Lifeline
Call 988 or text 838255
Military OneSource
Confidential help for eligible service members and their families. 800-342-9647
Previous Episodes Mentioned:
Compulsive Spending: Unpacking What You're Really Trying to Buy
Examining Overspending, Part 1, Part 2
Financial Wounds: When Money Becomes a Weapon, Part 1, Part 2, Part 3
Olivia explores both problem gambling and gambling disorder using insights from the University of Maryland School of Medicine. She breaks down the staggering 45% increase in gambling helpline calls, the hidden dangers of youth-targeted "loot boxes," and the devastating cycle of debt stress. Listeners will learn the clinical warning signs of gambling disorder and how it structurally mirrors substance abuse in the brain. Finally, Olivia shares actionable strategies for responsible play and boundary-setting to protect your financial and mental well-being.
https://responsibleplay.org
https://winningbackmylife.com
For Redstone Arsenal employees: Book a Financial Session with Olivia
For geographically separated military members: Find a Personal Financial Counselor
For DoW Civilians not attached to Redstone Arsenal, contact your Employee Assistance Program
More Resources:
National Problem Gambling Helpline
1-800-MY-RESET
Crisis Text Line
Text "HOME" to 741741
Gamblers Anonymous
12-step support for individuals. https://gamblersanonymous.org/
Gam-Anon
Support for friends and family members: www.gam-anon.org
Veteran/Military Crisis Lifeline
Call 988 or text 838255
Military OneSource
Confidential help for eligible service members and their families. 800-342-9647
Olivia describes how “savoring” can boost your financial well-being. By turning our attention to what we already have rather than what we lack, we can decrease anxiety, improve our cognitive functioning, and boost feel-good neurochemicals like serotonin and dopamine. Learn how to apply the "Three A's" of savoring—Attend, Amplify, and Absorb—to appreciate your current wardrobe, vehicle, home, and even relationships. Discover how simple acts like deep cleaning your car or organizing your closet can provide a sense of newness that saves you money and ultimately increases your net worth.
Olivia continues her conversation with attorney Emily Baggett to demystify what happens to debt after someone dies. They explain the legal hierarchy of claims—beginning with administration and funeral costs, then taxes, followed by secured debts, and finally unsecured debts—illustrating how insolvent estates must prioritize payments by law rather than preference. Emily clarifies the creditor claim process, noting that claims don’t get paid automatically, filing first doesn’t guarantee priority, and every claim can be challenged for validity. The episode also addresses how emotional distress can impair decision-making and why choosing a trustworthy, organized executor is essential to moving through financial “surprises” during grief. Olivia and Emily highlight common hidden issues—such as undisclosed debts or judgments—that can surface only after death and complicate probate proceedings. They encourage seeking professional support, noting that estates can often cover legal fees, thereby reducing stress for surviving loved ones and ensuring compliance with state law. The episode concludes with key readiness takeaways: debt persists after death, insolvent estates are more common than many realize, and knowledgeable guidance can prevent costly mistakes.
If you would like to hear more from Emily, be sure to look for her previously recorded classes and keep a lookout for her upcoming virtual class series, starting 20 May, at https://armyeitaas.sharepoint-mil.us/:l:/r/sites/HQAMC/Lists/AMC_HQ_AMPE_WellnessEvents?e=TtaQm6
Previous classes include the recording link, which may be limited to Army365 users.
Olivia and attorney Emily Baggett unpack common myths about spousal debt and what really happens when a partner passes away. They clarify the differences between joint accounts, authorized user status, and individual accounts—and how each determines whether a surviving spouse is legally responsible for remaining balances. The conversation explores how grief can create vulnerability, making people especially susceptible to pressure tactics from third‑party debt collectors who may misrepresent what a survivor owes. Emily explains the rights and protections offered by the Fair Debt Collection Practices Act and the importance of directing creditors to the estate’s representative rather than paying prematurely out of pocket. Listeners learn a step‑by‑step action plan that includes pulling credit reports, obtaining death certificates, requesting written validation of debts, and filing complaints when necessary. The episode emphasizes slowing down, verifying everything, and never letting urgency override legal order or personal protection.
If you would like to hear more from Emily, be sure to look for her previously recorded classes and keep a lookout for her upcoming virtual class series, starting 20 May, at https://armyeitaas.sharepoint-mil.us/:l:/r/sites/HQAMC/Lists/AMC_HQ_AMPE_WellnessEvents?e=TtaQm6
Previous classes include the recording link, which may be limited to Army365 users.
Epictetus had it half right — gratitude isn't just wisdom, it's neurochemistry. In this Financial Pain Management Clinic checkup, Olivia maps the brain regions that gratitude activates, why complaint quietly drives debt and avoidance, and the two-week prescription that builds new neural pathways.
Olivia explores how shifting from a scarcity mindset to one of gratitude transforms the way we make financial decisions, drawing on philosophy, positive psychology, and neuroscience. She unpacks why complaint and fear-based thinking trap people in cycles of avoidance, debt reliance, and paycheck-to-paycheck stress — and why the brain regions activated by gratitude (the left prefrontal cortex, the anterior cingulate cortex, the ventromedial prefrontal cortex) are precisely the regions that govern approach behavior, distress tolerance, relationship bonding, and financial risk evaluation. The episode walks through the language of scarcity narratives Olivia hears in session — the fixed pie fallacy, survival mode, scarcity of time and knowledge — and offers two evidence-based gratitude exercises, Three Good Things and Grateful Reminiscence, that listeners can begin today.
In this episode:
- The Epictetus reframe: rejoicing for the income, house, and car you have rather than grieving the ones you don't
- Why the antithesis of gratitude is complaint — and why a "neutral" financial mindset usually isn't neutral at all
- Robert Emmons on gratitude as emotion, mood, virtue, habit, motive, and "way of life"
- The fixed pie fallacy and why envy of the Joneses is neurologically expensive
- How a scarcity mindset shows up in session: paycheck-to-paycheck narratives, predatory lending, hoarding cash, scarcity of time and knowledge
- The five brain regions reshaped by a gratitude practice — and the specific financial behavior each one governs
- Why the ventromedial prefrontal cortex matters: it integrates values into decisions and evaluates financial risk
- The Albert Einstein quote on owing his inner and outer life to the labor of others
- Two evidence-based prescriptions: Three Good Things and Grateful Reminiscence
This episode explores how neuroplasticity—the brain’s ability to rewire and reshape itself—directly influences our financial habits and long-term money behaviors. Drawing from neuroscience and psychology, we discuss why breaking old financial patterns feels uncomfortable at first and why repeated practice is the key to lasting change. Using examples like tracking spending and building a $2,000 emergency fund, the episode validates the frustration many people feel when motivation fades and progress stalls. Olivia highlights how new routines literally create new neural pathways over time. You’ll learn why stress and discouragement make financial change harder, and how supportive habits increase brain-derived neurotrophic factor (BDNF) to boost motivation and follow-through. Most importantly, the episode reframes financial growth as a bidirectional process where shaping your brain helps reshape your finances. By the end, listeners will feel empowered to embrace small, repeated behaviors that build confidence, reduce financial “pain,” and transform temporary effort into long-term habits.
We often assume older adults are the primary victims of fraud, scams, and financial manipulation. But the data tells a different story: nearly 84% of victims in relationship and confidence scams are middle-aged or younger.
In this episode, Olivia breaks down the sociopathology behind financial predators—how they identify vulnerabilities, build trust, and ultimately exploit their prey. Drawing from the FBI, the Federal Trade Commission, and research published in the Journal of Cyberpsychology, Behavior, and Social Networking, she offers a second glance at who is at risk… and why.
If this episode leaves you wanting more, join us at the 4th Annual Financial Symposium on April 7th. You’ll hear directly from Tom Manganello, Senior Counsel in the U.S. Securities & Exchange Commission’s Office of Investor Education and Assistance. With a decade spent investigating cases for the SEC’s Division of Enforcement, Tom will break down today’s most dangerous investment scams—imposter scams, Ponzi and pyramid schemes, military-targeted fraud, and the surge in relationship-based investment scams—and give you practical tools to build immunity using free resources from Investor.gov.
You can attend in-person at Redstone Arsenal’s Bob Jones Auditorium or join virtually. Registration required: https://forms.osi.apps.mil/Pages/ResponsePage.aspx?id=D9fm-kuVEUiStgUw1vhMQxiSj6kdb7VFuypvxD6aMJlUN…
Alongside the SEC session, the symposium features a powerful lineup:
Chronic Financial Pain: Managing Long-Term Financial Ailments Join Olivia Pierce, LPC and Accredited Financial Counselor®, host of the award-winning P$yFi podcast, as she explores hidden symptoms of long-term financial strain and provides evidence-informed strategies to strengthen your financial mobility.
Estate Planning Rounds A rapid-fire series of consults led by distinguished estate planning attorneys: • Emily L. Baggett, Attorney Advisor, AMCOM • Christine S. K. West, Chief of Client Services, Redstone Arsenal OSJA
Topics include: • Till Debt Do Us Part • Passing, Property, and Payouts—A Mortgage Post-Mortem • Grave Consequences
Whether you’re easing chronic financial pain, preparing your estate, or protecting yourself from fraud, this symposium delivers practical, high-impact guidance you can use immediately.
This episode shifts the focus from financial deficits to personal strengths, using positive psychology to turn overwhelming pain into a manageable state of "halfway happy." A central analogy compares rebuilding your financial life to refinishing a porch swing, a process that requires psychological "grit" and perseverance. It begins with the most painful step—using abrasive, 80-grit sandpaper to confront the scary, "moldy" realities of your financial situation. The next phase uses a finer, 220-grit paper to represent the daily refinement of habits through small, productive goals. The ultimate aim is to move from merely surviving to truly flourishing, which can be achieved by finding a "psychological flow" where managing finances becomes an intrinsically rewarding activity. This focus releases feel-good neurochemicals that act as a "natural financial performance enhancer," boosting motivation and skill. The final step, applying a protective sealant, represents creating lasting security through concrete actions like estate planning and building a trusted support system.
Join us for the 4th Annual Hybrid Financial Symposium, "Addressing Hazards to Your Wealth," on April 7 from 7:30 AM to 12:00 PM. A major highlight is a special briefing on fraud pathology from Tom Manganello, a senior counsel and former investigator with the U.S. Securities and Exchange Commission (SEC). He will teach you how to identify and build immunity against today's most dangerous investment scams, from Ponzi schemes to military/civilian-targeted fraud. The event also features expert sessions on managing chronic financial pain and navigating complex estate planning issues with an Accredited Financial Counselor® and award-winning attorneys. Register now to attend this event in-full or for individual sessions and safeguard your financial health: https://forms.osi.apps.mil/Pages/ResponsePage.aspx?id=D9fm-kuVEUiStgUw1vhMQxiSj6kdb7VFuypvxD6aMJlUNUpGQ09IVTg1NzVVQ1dIR1BYT1NDNTFSVC4u
This episode explores the personal barriers that prevent us from following a financial plan, going beyond a simple lack of knowledge. It explains how forgetfulness, emotional factors like anxiety, and a lack of "financial health literacy" can create significant roadblocks to progress. Sometimes, the financial action plan itself can feel like a barrier due to its complexity, high costs, and the discouraging lack of immediate benefits. The episode also discusses "condition-related" barriers, such as asymptomatic financial problems where you don't feel the negative effects of overspending until it's too late. To overcome these obstacles, the discussion introduces motivational interviewing as a tool to understand the natural stages of change and address feelings of ambivalence. The key to success lies insimplifying the plan, using reminders, and embracing care coordination to stay on track. Ultimately, the episode emphasizes that setbacks are normal learning opportunities on the path to financial well-being.
This episode tackles why sticking to a financial action plan is so challenging. It explores how initial motivation often fades over time, leading to non-adherence and feelings of failure. The goal is to validate this common struggle and help listeners understand their financial suffering in order to start healing. Several key behaviors that sabotage financial progress are identified, mirroring those seen in physical chronic pain management clinics. These include skipping appointments, inaccurate or non-existent tracking, and failing to follow up on referrals to specialists. These actions are often driven by avoidance and canlead to a destructive "restrict-and-binge" spending cycle. The episode argues that a major barrier to progress is a simple lack of knowledge, or financial illiteracy. The key to overcoming this is pursuing financial education to understand core concepts like debt and responsible borrowing. Building financial literacy empowers you to ask the right questions, gain confidence, and finally adhere to a plan that leads to long-term financial well-being.
Addressing Chronic Financial Pain, Part 3
Continuing our series, this episode adapts powerful, evidence-based tools from chronic physical pain management to chronic financial pain management. First, we explore mindfulness-based stress reduction, teaching you how to observe your financial pain without judgment, distinguish it from self-inflicted suffering, and use techniques like "urge surfing" to master impulsive habits. To combat the paralyzing "boom-and-bust" cycle of financial fatigue, we introduce activity pacing, a method for breaking down overwhelming tasks into manageable steps to prevent burnout. For those stuck in complete inaction, discover behavioral activation, a strategy that uses impossibly small, concrete actions—like transferring $1—to build momentum and break the cycle of avoidance. Tune in for a practical toolkit that will help you move from a state of being overwhelmed to one of empowered, gentle action on your path to financial wellness.
Links to previous episodes:
Financial Skill-Building: Mindfulness
Financial Skill-Building: Distress Tolerance
Financial Skill-Building: Emotion Regulation
Financial Skill-Building: Interpersonal Effectiveness
Welcome back to the Chronic Financial Pain Management Clinic, where Olivia introduces powerful psychological tools like cognitive restructuring and cognitive defusion to challenge the beliefs that intensify your suffering. Discover the surprising parallel between a physical therapy patient's fear that movement will cause more harm and the paralyzing financial thought that taking action will only make things worse. Olivia explores how deep-rooted mental "schemas" create distorted thoughts, such as "all-or-nothing thinking" and "personalization," which turn manageable financial pains into debilitating struggles. Olivia offers practical cognitive defusion techniques from Acceptance and Commitment Therapy to change your relationship with negative thoughts and unhook from toxic identities like "I am broke." Tune in for creative, actionable strategies that will help you create distance from your thoughts, reduce their emotional grip, and finally move toward your financial goals.
Links to previous episodes:
Are thinking errors holding you back? Financial Cognitive Distortions, Part 1
Are thinking errors holding you back? Financial Cognitive Distortions, Part 2
Are thinking errors holding you back? Financial Cognitive Distortions, Part 3
Financial Skill-Building: Mindfulness
Is your financial situation causing you a persistent, nagging pain that impacts every corner of your life? In this episode, Olivia draws a powerful and validating parallel between chronic physical pain and chronic financial pain, revealing how they share shockingly similar symptoms of distress. Discover the three key financial behaviors that can lead to chronic financial pain and trap you in a vicious cycle of anxiety and avoidance. Olivia further explores how this financial distress manifests physically, emotionally, and socially, often leading to isolation and a diminished quality of life. Tune in to learn how to break free from suffering and take the first steps toward managing your financial pain, building a healthier financial future.
Links to previous episodes:
Are thinking errors holding you back? Financial Cognitive Distortions, Part 1
Are thinking errors holding you back? Financial Cognitive Distortions, Part 2
Are thinking errors holding you back? Financial Cognitive Distortions, Part 3
Money conversations aren’t easy, but they’re essential. In this 3‑part series, Olivia shares insights from two financial surveys on couples. The stats alone will spark dinner‑table conversations the kids won’t even want to miss. Learn how financial intimacy builds trust, deepens relationships, and lays the foundation for a healthier partnership.
Money conversations aren’t easy, but they’re essential. In this 3‑part series, Olivia shares insights from 2 financial surveys on couples. The stats alone will spark dinner‑table conversations the kids won’t even want to miss. Learn how financial intimacy builds trust, deepens relationships, and lays the foundation for a healthier partnership.
Money conversations aren’t easy, but they’re essential. In this 3‑part series, Olivia shares insights from 2 financial surveys on couples. The stats alone will spark dinner‑table conversations the kids won’t even want to miss. Learn how financial intimacy builds trust, deepens relationships, and lays the foundation for a healthier partnership.
Olivia delivers essential financial wisdom designed to withstand any crisis…coincidentally recorded during a real-time upheaval (Government Shutdown). This episode explores what to avoid, what to pursue, and how to stay grounded when everything feels uncertain. But this conversation goes beyond dollars and cents. We’re joined by a very special guest—Army Chaplain LTC Kirby Vidrine—who offers profound insight into the emotional toll of waiting during a crisis. From spiritual resilience to the challenge of holding hope in the unknown, his perspective brings depth and comfort to those navigating uncertainty.
Military Branch Charities (for Active Duty, Title 10 Reserve/Guard, AGR, Military Retirees, and Family Members):
ArmyEmergencyRelief.org, Air Force Aid (www.afas.org ), Navy/Marine Corps Relief (www.nmcrs.org ), Coastguard Mutual Assistance (www.mycgma.org ).
Federal civilians can review programs at feea.org.
Articles:
https://www.theredstonerocket.com/news/article_e963156c-d90a-48da-871b-044c469cfe18.html
https://www.theredstonerocket.com/news/article_c759fef9-10f8-481c-9098-de655cf0169e.html
Olivia is joined by Breanna Burgess, Domestic Abuse Victim Advocate, to explore how financial sabotage erodes opportunity. The episode also sheds light on elder abuse, including how financial harm uniquely affects individuals aged 60 and older. Plus, we’ll tackle the concept of financial self-harm: the ways we may unknowingly sabotage our own financial well-being. As always, we’ll share tools and resources to help you move toward a healthier mindset and future.
National Domestic Violence Hotline: 800-799-SAFE (7233) or text START to 88788 or go online to www.thehotline.org
If you are in immediate danger, please dial 911.
Olivia and Timothy Rolfe return to continue the conversation on economic abuse, diving deeper into its subtypes and the complex dynamics of divorce-related financial harm. This episode pulls back the curtain on how abuse can persist during and after separation, often unnoticed. You'll also hear about practical buffers and resources that can support healing and empowerment.
National Domestic Violence Hotline: 800-799-SAFE (7233) or text START to 88788 or go online to www.thehotline.org
If you are in immediate danger, please dial 911.
Olivia and Timothy Rolfe, a Family Advocacy and Domestic Violence expert, unpack the often invisible form of domestic violence: financial abuse. This episode explores the three subtypes — economic control, financial exploitation, and employment sabotage — and reveals how the damage goes far beyond unpaid bills. Learn how financial manipulation operates in relationships and how recognizing the signs can protect you, your loved ones, and your future.
National Domestic Violence Hotline: 800-799-SAFE (7233) or text START to 88788 or go online to www.thehotline.org
If you are in immediate danger, please dial 911.
Olivia continues the vital conversation on the hidden cost of financial distress. In this episode, she expounds on the suicide statistics from both military and civilian populations, highlighting how financial instability can fuel suicidal ideation and deepen mental health struggles. While the topic is heavy, it’s approached with compassion and clarity, offering listeners a deeper understanding of the link between money and mental health. But this isn’t just about awareness, it’s about action. Olivia also introduces practical buffers to reduce risk and foster resilience, from financial education and community support to mental health resources and early intervention strategies. Whether you're personally affected or want to support someone who is, this episode offers insight, hope, and tools for prevention.
National Suicide & Crisis Lifeline: dial 988
Olivia explores the emotional toll of financial stress and what happens when it escalates into full-blown financial distress. From depression and anxiety to isolation, the consequences run deep. With rising credit card debt, car loans, and student loans, young adults are facing mounting pressure. And without adequate financial education, mental health concerns are steadily on the rise. This episode sheds light on the connection between money and mental well-being…and why financial literacy is more urgent than ever. In the end, Olivia confronts one of its most devastating outcomes: suicide
National Suicide & Crisis Lifeline: dial 988
Olivia speaks with attorney Emily Baggett regarding digital assets and estate planning. Olivia and Emily help you sort through your digital affairs by identifying what digital assets include: monetary accounts, points accounts, creative content, monetized social media accounts, and store accounts. Digital estate planning helps you decide if you want to transfer, distribute, preserve, destruct, or neglect the asset. The digital consumer should also consider what to do with their overall ‘online presence’ once deceased, including non-monetized social media accounts, email accounts, gaming accounts/profiles, professional electronic files, memberships, subscriptions. And what about your cellphone? Resource alert: Take a peak at the Digital Legacy Clinic offered by the University of Colorado Boulder, where pro-bono tech support services are provided for the dead, dying and their family members - https://www.colorado.edu/center/digital-legacy/
For general estate planning, check out a previous episode with Emily at https://rss.com/podcasts/psyfi/601664/
Olivia speaks with attorney Emily Baggett regarding digital assets and estate planning. Olivia and Emily help you sort through your digital affairs by identifying what digital assets include: monetary accounts, points accounts, creative content, monetized social media accounts, and store accounts. Digital estate planning helps you decide if you want to transfer, distribute, preserve, destruct, or neglect the asset. The digital consumer should also consider what to do with their overall ‘online presence’ once deceased, including non-monetized social media accounts, email accounts, gaming accounts/profiles, professional electronic files, memberships, subscriptions. And what about your cellphone? Resource alert: Take a peak at the Digital Legacy Clinic offered by the University of Colorado Boulder, where pro-bono tech support services are provided for the dead, dying and their family members - https://www.colorado.edu/center/digital-legacy/
For general estate planning, check out a previous episode with Emily at https://rss.com/podcasts/psyfi/601664/
Olivia speaks with attorney Emily Baggett regarding digital assets and estate planning. Olivia and Emily help you sort through your digital affairs by identifying what digital assets include: monetary accounts, points accounts, creative content, monetized social media accounts, and store accounts. Digital estate planning helps you decide if you want to transfer, distribute, preserve, destruct, or neglect the asset. The digital consumer should also consider what to do with their overall ‘online presence’ once deceased, including non-monetized social media accounts, email accounts, gaming accounts/profiles, professional electronic files, memberships, subscriptions. And what about your cellphone? Resource alert: Take a peak at the Digital Legacy Clinic offered by the University of Colorado Boulder, where pro-bono tech support services are provided for the dead, dying and their family members - https://www.colorado.edu/center/digital-legacy/
For general estate planning, check out a previous episode with Emily athttps://rss.com/podcasts/psyfi/601664/
Olivia takes you on a metaphorical nautical journey to navigate through turbulent financial waters by 1) mapping out your financial destination; 2) using your financial navigational tools; 3) understanding financial dangers; 4) regaining financial control; 5) identifying allies; and 6) recalculating.
Links:
www.annualcreditreport.com
https://extension.usu.edu/powerpay/
Many give up on financial planning before they start, and it’s no wonder! There are so many things to know! Olivia validates and empathizes with the listener but helps focus your attention on 6 areas to explore to create some sense of direction and movement: spend-planning, tax-planning, debt management, saving/investing, retirement planning, and estate planning.
FINANCIAL WELL-BEING: Civilian, Military
STARTER SPEND PLAN
Net Worth Spreadsheet
IRS TAX WITHHOLDING ESTIMATOR
FSA HEALTH CARE AND DEPENDENT CARE
IRS TAX WITHHOLDING ESTIMATOR
CHECK YOUR CREDIT REPORTS ANNUALLY
POWERPAY
TSP WEBINARS
COMPOUND INTEREST (& OTHER CALCULATORS)
RISK TOLERANCE QUIZ
FINRA BROKER CHECK & BARRED BROKERS
FINRA INVESTMENT COURSES
FINDING A FIDUCIARY CERTIFIED FINANCIAL PLANNER
GRB CIV PLATFORM
FERS & CSRS PRE-RETIREMENT WEBINARS
SOCIAL SECURITY
It’s graduation season, so why not gift your graduate with the gift that keeps on giving: financial knowledge! Author Freddie Grant provides a succinct, easy-to-read book for teens to understand Personal Finance. The subtitle of the book captures its essence: The Ultimate Guide to Budget, Save, and Invest for Early Financial Independence. Set up coffee dates, a book club, or mentoring sessions with your teen, learning how to create and share each other’s financial vision. (If you have a college graduate, scroll below into episodes 14 and 15 of Season 2 for the book review on The Talk: About Money.) Army Endorsement not implied. There are several financial books for teens and young adults to choose from. Olivia simply wants to help you get a jump-start on your research.
It’s graduation season, so why not gift your graduate with the gift that keeps on giving: financial knowledge! Author Freddie Grant provides a succinct, easy-to-read book for teens to understand Personal Finance. The subtitle of the book captures its essence: The Ultimate Guide to Budget, Save, and Invest for Early Financial Independence. Set up coffee dates, a book club, or mentoring sessions with your teen to hold each other’s “money-making mind” accountable. (If you have a college graduate, scroll below into episodes 14 and 15 of Season 2 for the book review on The Talk: About Money.) Army Endorsement not implied. There are several financial books for teens and young adults to choose from. Olivia simply wants to help you get a jump-start on your research.
Written by Elizabeth Dunn and Michael Norton, Happy Money address that you may be spending your money wrong if it’s not bringing you joy. Olivia flips the script and applies the pay now, consume later to retirement, where the act of saving becomes an investment in our future well-being. The benefits of delayed gratification, the joy of anticipation, and making a future experience taste free are also explained.
Written by Elizabeth Dunn and Michael Norton, Happy Money doesn’t discourage spending in and of itself but rather encourages incorporating new spending behaviors. Olivia continues where she left off, introducing the concept of buying time and paying now/consuming later.
Written by Elizabeth Dunn and Michael Norton, Happy Money encourages the consumer to experiment with various spending habits that truly cultivate a sense of overall well-being, such as buying experiences, buying time, making purchases a treat, and practicing delayed consumption (aka Happy Money principles). Notably, these spending methodologies will not require an increase in income, but rather a strategic reallocation of existing assets to make your money happy again.
You may not consider your finances a likely vulnerability when pondering everyday threats. Whether perpetuated intentionally or unintentionally, insider threats can manifest in the form of personal financial mismanagement or significant emotional events, such as death, divorce, job loss, or illness. Outsider threats also compromise your financial security, such as predatory lenders, identity thieves, scammers, and even family members! To mitigate these risks, Olivia provides you with the safeguards necessary to remove or counter the impact of potential financial threats, equipping you with the knowledge and resources necessary to create a healthier relationship with money.
Register for the 3rd HYBRID Financial Symposium! Use the link below.
https://forms.osi.apps.mil/Pages/ResponsePage.aspx?id=D9fm-kuVEUiStgUw1vhMQxiSj6kdb7VFuypvxD6aMJlUNUpGQ09IVTg1NzVVQ1dIR1BYT1NDNTFSVC4u
If you found this information helpful, don’t forget to rate and review wherever you listen to the pod.
Financial Literacy Training: Meeting Financial Developmental Milestones
Olivia and the Army Headquarters Deputy Chief of Staff, G-9’s Financial Education Program Manager, Robyn Mroszczyk, discuss what’s in it for leaders to promote financial literacy and address financial developmental milestones. We take our children in for well-child checkups to ensure physical developmental milestones are met. But what professional will see you or your loved ones to ensure financial milestones are met? Who’s teaching us how to develop our financial muscle to move towards financial independence? (Although the DoD has military-specific milestones, Olivia has outlined Civilian-equivalent milestones below to consider as you or your loved ones are financially developing.) Olivia can be reached at 256-876-6299.
Vantage Tracker for Leadership: https://www.financialfrontline.org/soldier/leadership/
Financial Literacy Training
Army: https://olms.armyfamilywebportal.com/
Air Force: https://myvector.us.af.mil/myvector/PublicHome/NoticeAndConsent
Navy: https://learning.nel.navy.mil/ELIAASv2p/
MILITARY Financial Milestones
Future Service Member Training
Initial Entry
Arrival at First Duty Station
TSP Vesting
Promotion
Permanent Change of Station
Marriage
Birth and Adoption
Leadership
Life Challenges
Deployment
Continuation Pay
Transition
CIVILIAN Financial Milestones
Future Consumer Training
Preparing for First Job
First Paycheck
Investing
Promotion
Moving
Marriage
Birth and Adoption
Developing Others
Significant Emotional Events (illness, divorce, death)
Civilian Deployment
Bonuses and Contracts
Career Change
Helpful Financial Sites
https://finred.usalearning.gov/
https://www.financialfrontline.org/
https://www.milspousemoneymission.org/
https://www.finra.org/
https://www.consumerfinance.gov/
Olivia and special guest Gretchen Bentler (LPC/AFC®) illuminate how Dialectical Behavior Therapy techniques can assist you in being more mindful in your spending and financial practice. Now that you’ve learned and practiced the first three modules of DBT that required “internal” practice (go back and listen), you are now ready to apply this practice “externally” with other people. Olivia and Gretchen walk you through assertiveness skills to help you set and maintain financial boundaries. If you are a Redstone Arsenal employee, please call Olivia at 256-876-6299. If you are a Tobyhanna Army Depot or Picatinny Arsenal employee, please call Gretchen at 570-615-6682. For more information on Army Financial Literacy Training, visit HTTPS://www.financialfrontline.org/soldiers/
Olivia and special guest Gretchen Bentler (LPC/AFC®) illuminate how Dialectical Behavior Therapy techniques can assist you in being more mindful in your spending and financial practice.
Be sure to listen to episodes 17 and 18 in Season 3 prior, as each skill builds on the next. Emotion dysregulation can lead to overspending and other financial addictive behaviors. Regulating emotions not only curbs spending urges but also assists in decluttering the mind. Reducing painful emotions enables you to access your wise mind for optimal financial decision-making. If you are a Redstone Arsenal employee, please call Olivia at 256-876-6299. If you are a Tobyhanna Army Depot or Picatinny Arsenal employee, please call Gretchen at 570-615-6682. For more information on Army Financial Literacy Training, visit https://www.financialfrontline.org/soldiers/
Olivia and special guest Gretchen Bentler (LPC/AFC®) illuminate how Dialectical Behavior Therapy techniques can assist you in tolerating financial distress and surviving financial crises.
If you are a Redstone Arsenal employee, please call Olivia at 256-876-6299. If you are a Tobyhanna Army Depot or Picatinny Arsenal employee, please call Gretchen at 570-615-6682.
For more information on Army Financial Literacy Training, visit https://www.financialfrontline.org/soldiers/
Olivia and special guest Gretchen Bentler (LPC/AFC®) illuminate how Dialectical Behavior Therapy techniques can assist you in being more mindful in your spending and financial practice.
If you are a Redstone Arsenal employee, please call Olivia at 256-876-6299. If you are a Tobyhanna Army Depot or Picatinny Arsenal employee, please call Gretchen at 570-615-6682.
For more information on Army Financial Literacy Training, visit https://www.financialfrontline.org/soldiers/
Although not classified by the American Psychiatric Association as a disorder, there is clear evidence we engage in disordered spending. Olivia and guest, Matt (AFC® Candidate), discuss how shopping addiction receives honorable mention as a behavioral addiction, providing a lens in which to view this as a pattern of expectant behavior where we create and accept risk that will lead to greater reward.
Cost Per Use Calculator & Formula Online Calculator Ultra
We all need a financial realignment from time to time. But are you aligning your goals to your values or someone else’s? Olivia and guest, Matt (AFC® Candidate), present four simple yet power-packed habits will be the swift kick in the budget you need to discover where your money’s really going, what (or who) needs to change, and how to maintain.
Assessment Tools: https://www.consumerfinance.gov/consumer-tools/financial-well-being/
Alignment Tools:
Personal Finance for Teens 101, Grant (for teens)
The Talk: About Money, Alexander (for young adults)
The New Retirementality, Anthony (for adults)
Smart Couples Finish Rich, Bach (for couples)
Olivia addresses the 5 elephants in the room when it comes to couples and money. Olivia incorporates the writings of David Bach, author of Smart Couples Finish Rich. “It doesn’t matter if you love your spouse or partner more than anything in the world. If the two of you have conflicting values about money and make financial decisions that fail to accommodate each other’s feelings about the subject, you are going to have serious relationship problems.”
Funny YouTube video re: inflation: https://youtu.be/5IP2Go7LHQA?si=cZ9lNjX2IJkW5tx7
Time Value Calculators:
Future Value Calculator
Present Value Calculator
Olivia continues discussion on investing beyond your 401(k), applying FINRA’s four key principles of investing: 1) be informed; 2) be prudent; 3) be diversified; 4) be consistent. Olivia and Matt help you assess whether you’re ready to invest beyond the 401(k) and take a second glance at what nontraditional investments can increase your net worth and overall wellbeing. Guest contributor, Matt Zayd, is an Accredited Financial Counselor® candidate. If you are a Redstone Arsenal military member, retiree, DoD civilian, veteran with base access, or family member, consider setting up a financial appointment with Olivia at 256-876-6299. Reserve and Guard members in the Huntsville, AL commutable area can utilize the Personal Financial Counselor at 571-361-2260.
Referenced Material:
FINRA
FINRA Barred Broker
FINRA Broker Check
FINRA Fund Analyzer
FINRA Smart Investing Courses
Investment Philosophy Quiz
Olivia encourages you to think about investing beyond your 401(k), using FINRA’s educational platform as a rubric. Olivia and Matt help you understand the differences in saving vs. investing, active vs. passive investing, generational differences, risk tolerance, and whether you’re ready to invest beyond the 401(k). Guest contributor, Matt Zayd, is an Accredited Financial Counselor® candidate. If you are a Redstone Arsenal military member, retiree, DoD civilian, veteran with base access, or family member, consider setting up a financial appointment with Olivia at 256-876-6299. Reserve and Guard members in the Huntsville, AL commutable area can utilize the Personal Financial Counselor at 571-361-2260.
Referenced Material:
FINRA
FINRA Barred Broker
FINRA Broker Check
FINRA Fund Analyzer
FINRA Smart Investing Courses
Investment Philosophy Quiz
A disabling sickness or condition in the family (or extended family) can create financial and psychological distress. Olivia validates those fears, offering tools and buffers to prevent or mitigate caregiver burnout. Guest contributor, Matt Zayd, is an Accredited Financial Counselor® candidate. If you are a Redstone Arsenal military member, retiree, DoD civilian, veteran with base access, or family member, consider setting up a financial appointment with Olivia at 256-876-6299. Reserve and Guard members in the Huntsville, AL commutable area can utilize the Personal Financial Counselor at 571-361-2260.
Referenced Material:
- Money Geek Article (offers several clickable links to several non-military financial resources)
- Caregiver Support Groups
- Military and family members have access to the Exceptional Family Member Program and Tricare, providing additional resources for a disabling sickness or condition.
- Common Military Training (aka Financial Touchpoints) can be accessed with the below links. Better yet, set up a 1:1 in-person session with your local Financial Readiness Program.
Air Force Touchpoints
Army Touchpoints
Two therapists help you examine how you THINK with money, which impacts how you feel and ultimately behave with money. The top 10 cognitive distortions that plague our everyday thinking are generalized to money. In this episode, you will be given the tools to challenge the distorted financial thoughts with several evidence-based techniques. If it works in the clinical session, it can work in the financial session.
Consider joining us for the Compulsive Spending class on 4 SEP at 11CT. Link coming soon.
Two therapists help you examine how you THINK with money, which impacts how you feel and ultimately behave with money. The top 10 cognitive distortions that plague our everyday thinking are generalized to money. In this episode, you’ll be challenged to assess your most common distortion. “I’m always broke.” “I’ll never be good with money.” “I should be saving 30%.” “Paying down debt feels hopeless, so it must be true.”
Consider joining us for the Compulsive Spending class on 4 SEP at 11CT. Link coming soon.
May is Mental Health Awareness month. In part 1 of this 3-part series, 2 therapists help you examine how you THINK with money, which impacts how you feel and ultimately behave with money. The top 10 cognitive distortions that plague our everyday thinking are generalized to money. Learn how to map your cognitive constellation and hear how it can impact the view of your financial self, world, and future.
Consider joining us for the Compulsive Spending class on 4 SEP at 11CT. Link coming soon.
Whether you’re 30 years or 30 days from retirement, this 3-part book-review series will prepare you what Olivia calls a F.A.B. Retirement. She wants you to have the Financial, Affective, and Behavioral skills to prepare. Most employees are aimlessly wandering toward retirement. Without true direction, you’ll likely end up somewhere you didn’t want to go. Following the book by Mitch Anthony, The New Retirementality, Olivia will challenge your personal I.R.A. (Individual Retirement Attitude) and assess whether it is consistent with your retirement values and goals, facilitating a truer sense of direction. Army endorsement is not implied. Several books on retirement exist, and you are encouraged to find the best book that resonates with your values. If you are a Redstone Arsenal service, civilian, or family member, please call Olivia for financial readiness services at 256-876-6299.
Whether you’re 30 years or 30 days from retirement, this 3-part book-review series will prepare you what Olivia calls a F.A.B. Retirement. She wants you to have the Financial, Affective, and Behavioral skills to prepare. Most employees are aimlessly wandering toward retirement. Without true direction, you’ll likely end up somewhere you didn’t want to go. Following the book by Mitch Anthony, The New Retirementality, Olivia will challenge your personal I.R.A. (Individual Retirement Attitude) and assess whether it is consistent with your retirement values and goals, facilitating a truer sense of direction. Army endorsement is not implied. Several books on retirement exist, and you are encouraged to find the best book that resonates with your values. If you are a Redstone Arsenal service, civilian, or family member, please call Olivia for financial readiness services at 256-876-6299.
Whether you’re 30 years or 30 days from retirement, this 3-part book-review series will prepare you what Olivia calls a F.A.B. Retirement. She wants you to have the Financial, Affective, and Behavioral skills to prepare. Most employees are aimlessly wandering toward retirement. Without true direction, you’ll likely end up somewhere you didn’t want to go. Following the book by Mitch Anthony, The New Retirementality, Olivia will challenge your personal I.R.A. (Individual Retirement Attitude) and assess whether it is consistent with your retirement values and goals, facilitating a truer sense of direction. Army endorsement is not implied. Several books on retirement exist, and you are encouraged to find the best book that resonates with your values. If you are a Redstone Arsenal service, civilian, or family member, please call Olivia for financial readiness services at 256-876-6299.
Olivia has made the point that money can’t buy happiness, but another therapist reframes the discussion in how money can be used as a “tool” to move you towards a stronger sense of financial wellbeing. Just as we engage in financial planning, CarolynWhite, Licensed Clinical Social Worker with Redstone Arsenal’s Employee Assistance Program, shares how we can actually “plan” or “map out” our happiness.
We don’t normally “look” for happiness. We usually stumble upon it and enjoy it while it lasts. We get so excited looking forward to our goals (like retirement), but often feel let down once we reach them. Mismatched values, unexpected challenges, and rigid storylines cause us to feel disconnected and dull our achievements. In this episode, Carolyn helps you understand what is truly important to you and how to enjoy life’s journey. When you get into the habit of noticing happiness, you can plan more of it. If you are a Redstone Arsenal Employee, feel free to call the Employee Assistance Program to discover if you are eligible for free, confidential counseling services at 256-316-6098.
Olivia walks you through the practical steps of planning and preparing for a divorce financially, from protecting your credit to updating your designations of beneficiary.
2nd Annual Financial Symposium Information and Registration
ARMY Common Military Training (Financial Touchpoints)
NAVY Financial Touchpoints
USAF Financial Touchpoints
Olivia sits down with an Accredited Financial Counselor® candidate to review and challenge participants’ stated barriers in the class, Cover Your 6: Six Things to Know about Debt, Credit, Consolidation, and Settlement. Army Teams members can view the recorded class at P$yFi: Cover Your 6.
Olivia takes you back to positive childhood (and still adulthood) memories of thrifting, reminding you that you’re giving much more than your business. Olivia also provides tips of the thrifting scene, whether you’re looking to donate, host a yard sale, or patron a thrift shop.
Before you set financial resolutions this coming year, Olivia walks you through a paradigm shift to create a financial revolution.
Olivia helps you set the pace and create a sense of season by learning how to budget not only your money, but your time AND energy. Listen to how you can create a subordinate budget to spend on what you want most this Holiday Season…that doesn’t necessarily involve money.
Olivia discusses meal-planning with Redstone Arsenal’s Fox Army Clinic Dietician, providing two distinct but similar perspectives on meal-planning. We don’t even tell you to stop eating out!
Olivia sits down with an Accredited Financial Counselor® candidate to further discuss what financial wellbeing is and is not, reviewing observations of the financial wellbeing class hosted at Redstone Arsenal’s Wellness Summit. If you haven’t already, take the financial wellbeing assessment then listen to episodes 17 and 18.
Olivia continues to dissect the CFPB research on financial wellbeing, focusing on the sited opportunities to advance financial wellbeing. This includes increasing confidence and a multitude of actions that are not income-driven but BEHAVIORALLY driven. Listen to part one in Episode 17 first! To discover your score, and where you can target improvement, take the CFPB financial wellbeing assessment below. If you are a military member, remember to take you financial milestone/touchpoint Common Military Training as an additional opportunity to advance financial wellbeing. Click on the appropriate branch link below. The DoD Financial Readiness Program has also created a military-specific financial wellbeing assessment just for you at https://finred.usalearning.gov/FWBA/DigitalToolCFPB Financial Wellbeing Assessment: https://www.consumerfinance.gov/consumer-tools/financial-well-being/Common Military Training: ARMY https://www.financialfrontline.org/soldiers/Common Military Training: Air Force https://myvector.us.af.mil/myvector/PublicHome/NoticeAndConsentCommon Military Training: Navy https://learning.nel.navy.mil/ELIAASv2p/
Olivia dives into the exciting CFPB research on Financial Wellbeing, defined as “a state of being wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future and is able to make choices that allow them to enjoy life.” Key findings are processed, including the variables that impacted financial wellbeing scores most. Hint, hint, it’s not your income!!! To discover your score, and where you can target improvement, take the financial wellbeing assessment below.CFPB Financial Wellbeing Assessment: https://www.consumerfinance.gov/consumer-tools/financial-well-being/Wellness Summit registration link: https://forms.osi.apps.mil/r/D9M5JEbscB
Recapping August’s P$yFi class, Olivia highlights the larger discussion points on the multitude of steps in the home-buying process. Home-buying is a daunting one, so take it seriously. Learn as much as you can before you commit to purchasing a home!Wellness Summit registration link: https://forms.osi.apps.mil/r/D9M5JEbscBJoin us for the next P$yFi class on 7 SEP 2023 at 11CST, Cover Your 6: Six Things to Know about Credit, Debt, Consolidation, and Settlement https://dod.teams.microsoft.us/l/meetup-join/19%3adod%3ae91c32128d4b4b2b956ad5b46b317d88%40thread.tacv2/1678486849409?context=%7b%22Tid%22%3a%22fae6d70f-954b-4811-92b6-0530d6f84c43%22%2c%22Oid%22%3a%22a98f9218-6f1d-45b5-bb2a-6fc43e9a3099%22%7d
A continuation of Episode 14, Dale Alexander breaks down the reasons for giving as well as saving. He shows his math of how someone making $12K per year or $36K per year can still have a very nice nest egg. He provides new math: 70 > 100.
Have you tried imparting wise financial advice to your children, but it falls on deaf ears? Do you not even know where to start the conversation about money with your kids? Dale Alexander, a Certified Financial Planner, speaks to the core of young adult children, having them ask the question, do you want money to control you or do you want to control money? He offers the one, life-altering decision young adults can make before they receive their first, real job paycheck…before they’ve even set a standard of living: Make 70% your 100%. Listen in to understand.
Do you ever ask yourself the question I was asked in a recent class, “Should I push my child to work or let him/her be a kid?” I provide my insights, as well as a Youth Development Study.To watch the 8 JUN class referenced in podcast, “A Cruel Summer? Lasting money habits for kids, teens, and adult children,” visit Meeting in General-20230608_110123-Meeting Recording.mp4
Marrying a recent financial class with an interesting article, Olivia discusses stats that will hopefully make you feel better about yourself while challenging your thinking that “average” is just not good enough. For Redstone Arsenal Employees: To access the Cash Flow Analysis mentioned in the podcast, contact Olivia at 256-876-6299.Consider attending Olivia’s P$yFi class series the 1st Thursday of every month at 1100 CST. All P$yFi Classes are “hybrid.” You may choose to join on Microsoft TEAMS at https://dod.teams.microsoft.us/l/meetup-join/19%3adod%3ae91c32128d4b4b2b956ad5b46b317d88%40thread.tacv2/1678486849409?context=%7b%22Tid%22%3a%22fae6d70f-954b-4811-92b6-0530d6f84c43%22%2c%22Oid%22%3a%22a98f9218-6f1d-45b5-bb2a-6fc43e9a3099%22%7d or in-person at Toftoy Hall, 3495 Patton Rd, Redstone Arsenal. If joining in-person, please leave a message for Olivia at 256-876-6299 so she can bring you a goody bag.
Ever feel like an ill-equipped parent? Discover what little it takes to make your kids both mentally AND financially strong. Of course, parenting is not for the faint of heart. Warning: it will involve saying “no.” Join Olivia on 8 JUN 2023, 1100 CST, for more financial parenting advice in “A Cruel Summer? Lasting Money Habits for Kids, Teens, Young Adults, & Adult Children. Join the class at: https://dod.teams.microsoft.us/l/meetup-join/19%3adod%3ae91c32128d4b4b2b956ad5b46b317d88%40thread.tacv2/1678486849409?context=%7b%22Tid%22%3a%22fae6d70f-954b-4811-92b6-0530d6f84c43%22%2c%22Oid%22%3a%22a98f9218-6f1d-45b5-bb2a-6fc43e9a3099%22%7d
Just like any other task in life (e.g., work, household chores, parenting) we must learn what skills motivate us or burn us out. Learn how to assess your financial motivational skills so that you can do more of them, then identify your financial burnout skills so you can delegate to someone else, whether a spouse, child, lay professional, professional, etc. There is the potential for everyone to win, especially if you are delegating a burnout skill that is a motivational skill for someone else. You will also learn how to develop financial skills and transfer non-financial skills into financial skills.Class Recording: P$yFi (Psychological Finance) Class Series-20230406_110114-Meeting Recording.mp4
YOU are the only one who controls your financial destiny. Let’s don our nerd glasses when we crunch the numbers and suit up when necessary to fight for our financial freedom. BAM! Examine the POWer-packing punches that will keep your portfolio fit: spend less than you earn, save for the future, invest, protect your assets, and pay down debt. WHAM! See the attached P$yFi schedule for upcoming hybrid classes.If you are a Team Redstone member, call 256-876-6299 for an appointment.For PowerPay information, visit https://extension.usu.edu/powerpay/April is Financial Capability Month—no fooling! Visit https://finred.usalearning.gov/ and choose a financial goal — or five! — that you can achieve.” #FinancialFuture2023
Discover the remaining 2 F.I.R.E. paths. Let’s not get burned out by inflation and poor exchange performance. This podcast reveals HOW to start catching fire NOW with a few calculations.April is Financial Capability Month—no fooling! Visit https://finred.usalearning.gov/ and choose a financial goal — or five! — that you can achieve
Did you know there's more than one way to retire? Many people tend to think of the long, arduous task of saving impeccably for 30+ years, remaining loyal to 1 or 2 employers. But wait, there's more! F.I.R.E. gives you hope. It has morphed over the years, realistically incorporating new ideas for achieving retirement goals, whether you’re focused more on financial independence, retiring early, or both. Discover the first 2 of the 4 different F.I.R.E. paths. No matter what your F.I.R.E., discover how F.I.R.E. can consume retirement’s worst enemy: inflation.
In the previous episode, you discovered the fallacy in predicting feelings (affective forecasting). In this episode, complete a few future-self exercises to improve the connection with your current and future self. Closing this identity gap opens the floodgates for truly understanding your deepest desires. If you missed the Financial Symposium, never fear. We will kick off the next round of P$yFi classes in April. Stay tuned for more information.
Money really does not buy happiness, but we consistently overpredict that it will. “If only I could get that promotion, then I would be happier.” This is called affective (feeling) forecasting, in which we fail miserably each time. We even fail to predict what will make us unhappy. Listen in on how we tend to get our future selves mixed up with an unknown person. Discover how empathizing with your future self can actually improve your financial well-being.
Don’t miss Redstone Arsenal’s FREE Financial Symposium on 9 MAR 2023 at the Overlook. This is an in-person event open to anyone with Redstone Arsenal access. FREE Lunch will be served in conjunction with the Army Emergency Relief kickoff. Can’t make a full day of it? Attend one or two classes. Certificates of completion will be provided for CLPs. Leaders, consider making this an alternate duty location for your servicemen and women. Free goody bags to the first 100 registrants! Register here: https://forms.osi.apps.mil/r/mYtsVVcwWc Please call 256-876-6299 with any registration issues.
If you’ve already blown your financial New Year’s Resolution, don’t fret! Learn how to tie any financial goal with a “fresh start” date to increase motivation, movement, and maintenance of the goal.
Don’t miss Redstone Arsenal’s FREE Financial Symposium on 9 MAR 2023 at the Overlook. This is an in-person event open to anyone with Redstone Arsenal access. FREE Lunch will be served in conjunction with the Army Emergency Relief kickoff. Can’t make a full day of it? Attend one or two classes. Certificates of completion will be provided for CLPs. Leaders, consider making this an alternate duty location for your servicemen and women. Free goody bags to the first 100 registrants! Register here: https://forms.osi.apps.mil/r/mYtsVVcwWc Please call 256-876-6299 with any registration issues.
Explore your financial worldview and how it impacts your financial decision-making. What you think about money impacts how you feel about money, which ultimately influences how you behave with money.
Live class recording link: P$yFi (Psychological Finance) Class Series_ Behavioral Tips for Financial Success-20221207_110010-Meeting Recording.mp4
FINRED Wellness Quiz: https://finred.usalearning.gov/FWBA/DigitalTool
Money Script® assessment: https://www.bradklontz.com/moneyscriptstest
Money Mammoth book available to Redstone Arsenal Employees (pick up in Bldg 3443 at ACS desk…same bldg. as Java Café)
Money Can’t Buy Happiness TED Talk: https://www.bing.com/videos/search?q=ted+talk+why+money+can%27t+buy+you+happiness&docid=608006114938022424&mid=A835C6A3545AB0F08CBAA835C6A3545AB0F08CBA&view=detail&FORM=VIRE
Explore your financial worldview and how it impacts your financial decision-making. What you think about money impacts how you feel about money, which ultimately influences how you behave with money.
Live class recording link: P$yFi (Psychological Finance) Class Series_ Behavioral Tips for Financial Success-20221207_110010-Meeting Recording.mp4
FINRED Wellness Quiz: https://finred.usalearning.gov/FWBA/DigitalTool
Money Script® assessment: https://www.bradklontz.com/moneyscriptstest
Money Mammoth book available to Redstone Arsenal Employees (pick up in Bldg 3443 at ACS desk…same bldg. as Java Café)
A new year, a new you. Discover the value in attending a live financial class or personalized financial counseling session.
Redstone Arsenal employees and military family members can contact me for a session at 256-876-6299.
Active Duty personnel: Remember your mandatory financial CMT training. Consider the live appointment over the virtual class! Visit www.financialfrontline.org to see what financial milestones you’re missing.
Details coming soon on the in-person Financial Symposium (early March).
For the full Overspending P$yFi class, follow:
https://armyeitaas-my.sharepoint-mil.us/:v:/g/personal/olivia_n_pierce_civ_army_mil/EfDQ8vxqkdxKhyxwhdgSGIUB9UiYS-IvDnIfEGUgBpGy-g?e=IF1Uxk
You were never meant to overcome this alone. Army Community Services can help you achieve money harmony at 256-876-5397.
Debtor’s Anonymous: Debtors Anonymous - Meetings, Support, Groups and Programs - Debtors Anonymous (this does not imply Army Endorsement)
For the full Overspending P$yFi class, follow:
https://armyeitaas-my.sharepoint-mil.us/:v:/g/personal/olivia_n_pierce_civ_army_mil/EfDQ8vxqkdxKhyxwhdgSGIUB9UiYS-IvDnIfEGUgBpGy-g?e=IF1Uxk
You were never meant to overcome this alone. Army Community Services can help you achieve money harmony at 256-876-5397.
Debtor’s Anonymous: Debtors Anonymous - Meetings, Support, Groups and Programs - Debtors Anonymous (this does not imply Army Endorsement)
For the full Overspending P$yFi class, follow:
https://armyeitaas-my.sharepoint-mil.us/:v:/g/personal/olivia_n_pierce_civ_army_mil/EfDQ8vxqkdxKhyxwhdgSGIUB9UiYS-IvDnIfEGUgBpGy-g?e=IF1Uxk
You were never meant to overcome this alone. Army Community Services can help you achieve money harmony at 256-876-5397.
Debtor’s Anonymous: Debtors Anonymous - Meetings, Support, Groups and Programs - Debtors Anonymous (this does not imply Army Endorsement)
In 2018, $707B was spent from 1 NOV to 31 DEC in America. Total “online” holiday purchases totaled $147B! (ConsumerDecisions)
Would you like to free yourself of the burden of overspending or overscheduling this holiday season? Take a listen to learn how you can reframe this holiday from a season of spending to “giving.”
Please reach out to Army Community Service at 256-876-5397 if you would like to schedule an appointment.
Learn what you need to do get your credit back on track and avoid any potential security clearance issues that can arise when you have credit trouble.
Free credit reports can be found at www.annualcreditreport.comComplaints with a credit company (after following dispute process) can be lodged through www.consumerfinance.gov.
Thinking about buying a car? Listen to this first. The car market is crazy right now. Prices are at record-breaking highs. Should you buy new or used? What’s the better deal? Let’s talk about the different factors. Learn what’s important to factor in other than just the monthly payment
Are you financially-single, but want to be financially-married?
Learn how to change your surroundings and feel financially ready and empowered to move forward with your life.
What cues are in your everyday life that are holding you back?
Can you identify the learned behaviors that are holding you back?
Remember just because you know someone who is living paycheck-to-paycheck doesn’t mean you have to. You can make your own choices.
Did you know people under financial distress are 20 times more likely to complete suicide?
Are you financially sick because you’re surrounded by financially sick people? Listen and take note of where you are with your finances.
What thoughts about money go unchallenged and are holding you back?
Learn how to “change your source” and feel financially ready and empowered to move forward.
To watch the full class recording, go to https://armyeitaas-my.sharepoint-mil.us/:v:/g/personal/olivia_n_pierce_civ_army_mil/EYxNDalij_dOi45uDlzbSXUBiSY-WHodA7FH_KZk58m1Sw?e=TtbOLeFinancial Wellbeing Assessment: https://finred.usalearning.gov/FWBA/DigitalTool
Link to full class recording: https://armyeitaas-my.sharepoint-mil.us/:v:/g/personal/quynh_v_nguyen_civ_army_mil/ETJKGBynFMdKgWDH6KrcJ7wBGAujR9v5HYw7C7IpHvK_QQLink to free legal aide: https://www.americanbar.org/groups/legal_services/flh-home/flh-free-legal-help/Link to general estate planning info: https://www.americanbar.org/groups/real_property_trust_estate/resources/estate_planning/
Don't miss our next class!
7 SEP (1100-1200 CST) P$yFi class link to join Financial Relationship Checkup: What's Ailing You?:
https://dod.teams.microsoft.us/l/meetup-join/19%3adod%3ameeting_c55ab7ae485643db8a0531ba09a5a0e9%40thread.v2/0?context=%7b%22Tid%22%3a%22fae6d70f-954b-4811-92b6-0530d6f84c43%22%2c%22Oid%22%3a%22a98f9218-6f1d-45b5-bb2a-6fc43e9a3099%22%7d
Financial Calculators:https://www.calculator.net/retirement-calculator.htmlhttps://finred.usalearning.gov/ToolsAndAddRes/Calculators/RetirementRecorded Class -- Retirement: Your Rx for Financial Longevity: https://armyeitaas-my.sharepoint-mil.us/:v:/g/personal/olivia_n_pierce_civ_army_mil/EUnENRUePJFJr-IqYeSgFX8Bok1Wx_1UfvocTzgg3_nLtg?email=olivia.n.pierce.civ%40army.mil https://armyeitaas-my.sharepoint-mil.us/:v:/g/personal/olivia_n_pierce_civ_army_mil/EUnENRUePJFJr-IqYeSgFX8Bok1Wx_1UfvocTzgg3_nLtg?email=olivia.n.pierce.civ%40army.milFor Uniformed Personnel-- Financial Frontline: https://www.financialfrontline.org/ https://www.financialfrontline.org/
Learn how to create a spend plan that you can stick to.
Here are some helpful links:
IRS Withholdings Calculator: https://www.irs.gov/individuals/tax-withholding-estimatorDigital Envelope App: https://goodbudget.com/Economic Abuse: www.thehotline.orgRecorded Class -- Breaking the Cycle of $tress: Spend Plan Tips: https://armyeitaas-my.sharepoint-mil.us/:v:/g/personal/valerie_l_francis_civ_army_mil/EarDyHU3uuFJhTeXFyqY80IB8ejZ2nWjV7wiRqGLk_kXjgFor Uniformed Personnel-- Financial Frontline: https://www.financialfrontline.org/
Find out what it means if you're a confident money manger, a laid-back balancer or one of the many different financial personalities that shape who you manage your finances. Knowing this about yourself is the first step in learning how to make better financial decisions.
Some helpful links:
Unveiling your Financial PersonalityFinancial Personality Assessment: https://www.marcus.com/us/en/resources/lifestyle/discover-your-financial-personalityRecorded Class -- Financial Personality: https://connect.apan.org/pd6beswfg6jb/For Uniformed Personnel-- Financial Frontline: https://www.financialfrontline.org/