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Achieving a positive money mindset: tips from Elfin and Preferred Banking

Money for later
Why is it so important to have a positive money mindset? And how does a positive mindset help you to manage money better? In this video, Lieke Danenberg from Elfin– the biggest financial platform for women in the Netherlands and Belgium – speaks to Jenny de Jager, our Preferred Banking adviser, about having a positive mindset.

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What is a positive money mindset?

Jenny: “Having a positive money mindset is crucial if you want to get a grip on your finances and decide what goals you want to reach in the future.”

Does thinking positively about money help you to manage it more effectively?

Jenny: “Absolutely. If you approach something positively, you’ll find you want to learn more about it. And the more you know about money, the better equipped you’ll be to make the right decisions in the future.”

How does that work in practice, in your consultations?

Jenny: “We invite many couples to consultations, but often only one partner turns up. Sadly, it’s usually the woman who’s absent. That’s really disheartening, as both partners really need to know what’s going on and be up to date on any agreements that have been made. That knowledge can provide peace of mind and enable you to make decisions more easily in the future.”

If it’s so important, why don’t women show up?

Jenny: “They often think they won’t have anything valuable to say or they don’t know enough. But if you don’t join in, you won’t ever acquire that knowledge. And what we don’t know, we fear. It’s great when they do turn up, so we can tell them about money and finance, their options and gradually give them the tools to make much better choices. It’s worth remembering that women have their own financial goals, too. You have your shared goals with your partner alongside your individual ones.”

What’s your advice to couples?

Jenny: “My main advice would be for both partners to come and think about their individual and shared financial goals. They should also consider the risks, though. What if a partner is no longer in the picture? That could be because they pass away or choose to divorce or separate. Not knowing how that affects your finances will make things really tough. That’s why being included in that financial planning from the beginning is such a good thing. Make sure you’re well informed, and make your plan personal.”

Lieke: “That resonates with me. When I started exploring my own goals in detail, it motivated me to follow through on them. And what really helped me was to write down the thoughts I had: ‘I’m no good with money. I’m not cut out for it.’ Was that really true? It wasn’t – I’d just convinced myself it was. I’m not good with money yet, but I can learn how to be.”

Jenny: “Exactly. Having that positive mindset makes it much easier to make decisions. You’re in control: you decide what to do with your money, and you decide what you want now and in the future.”

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Money for later

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