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Financial Emotional Intelligence

The Four Areas of Financial EQ

Financial EQ is a relatively new field because … You’re probably most familiar with the term emotional intelligence. It’s a term that became famous in the late 1990s with the author, Daniel Goleman. 

In this short video series, I am unpacking what it means to have financial … that’s my emphasis … financial emotional intelligence.

Because that’s more than just emotional intelligence. It’s the financial side of it.

So, I need to start with giving you this brief understanding of what emotional intelligence actually is and how it applies to money.

Therefore, we’re gonna talk about the four areas of emotional intelligence. Let’s just do an overview.

 

1st Area: Self-Awareness

The first area of emotional intelligence is called self-awareness. It’s recognizing our feelings and emotions, what they are, and how they impact us. 

Let’s take the example of somebody I worked with years ago. let’s call her Tess. Whenever Tess would get a bill, any kind of a bill, she would get anxiety, even if she had enough money in the bank to cover it. As a result, we could see that those feelings were having an impact on her and they were not making her readily available to anything else. 

 

2nd Area: Awareness of Others

The second area is the awareness of others. The first area is awareness of self. The second one is awareness of others. It’s being able to put ourselves in someone else’s shoes to better understand how their feelings and emotions impact them.

It’s very easy to become impatient with somebody when they’re going through something. But what would happen if you just stopped and allowed yourself to imagine what it would be like for you if you were Tess and you had anxiety every time a bill showed up. That’s what the second area is about.

 

3rd Area: Self-Management

The third area is the area of self-management. This is where we start unpacking … we start getting into some tools here.

Because the third area is self-management; it’s managing our feelings and emotions so we can truly feel supportive of ourselves.

What does that mean in the context of Financial EQ? 

It means that Tess can learn how to manage that anxiety when it comes up so she can be more available to herself, more available to her partner, more available to the people that she supports.

 

4th Area: Relationship Management

The fourth area is in relationship management. It’s about being able to develop deep, meaningful relationships with others.

Relationship management addresses how can we manage the emotions, understand what it is we are feeling, put it all together, and at the same time have our relationships grow rather than shrink from it.

That’s a brief overview of the four areas of emotional intelligence and how they apply to money. 

In the next videos, we’re going to take each one of those areas that I’ve just mentioned and we’re gonna take a dive and go a little deeper on each one, what it means to you, in particular what it means to you in the context of your finances.

Because this is about financial emotional intelligence. Not just emotional intelligence. But the financial side of it.  

If you feel like Tess on most days and you want to develop your Financial EQ, book a discovery call with me at https://financialeq.coach/contact-us/

Furthermore, there are plenty of fantastic resources for you at https://dovbaron.com