Which spending cycle is the preferred one to be in? - ✔✔ Earn/Save/Spend
concious mind - ✔✔ left hemisphere, center for processing sensory
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unconscious mind - ✔✔ Right hemisphere, autonomic processing
Hard approach - ✔✔ left/analytic side, assertive/orderly/straightforward
Soft approach - ✔✔ Right/creative side, offers possibilities and suggestions
Johari Window Zones - ✔✔ open, blind, hidden, unknown
Open - ✔✔ Information is known by both parties
Blind - ✔✔ counselor knows info that member doesn't
Hidden - ✔✔ Member knows info that the counselor doesn't
Unknown - ✔✔ Info is unknown to all parties
Counseling Types - ✔✔ Remedial, preventative, and productive
Counseling elements - ✔✔ budget, credit, debt, financial planning
Vital counselor skills - ✔✔ Ask questions, observe nonverbal ques, express empathy, identify needs, assemble financial picture, workable suggestions, explore money management skills, communication skills
Empathy - ✔✔ Imagine how it might feel, builds trust
Sympathy - ✔✔ may enable members to continue current behaviors
Pacing - ✔✔ create a feeling of connection with a member by
matching physical characteristics, such as posture, energy level, and unconscious movements like breathing.
Blending - ✔✔ display communication patterns that match
a member's, such as speech rate, tone,
vocabulary, and adjusting appearance.
Blending is an important tool counselors
can use to build a relationship with members
and put them at ease.
The change process - ✔✔ recognize need for change, gather info, revise plan, make change
Decision making tools - ✔✔ essential obligations, force-field analysis, cost benefit analysis
Force-Field Analysis - ✔✔ method used to view all
the forces in favor of or against a plan
The counseling process - ✔✔ collect data, establish financial goals, analyze data, action plans, implement plan, monitor/adjust
Spending Plan - ✔✔ create list of creditors, obtain income info, review cash flow, divide budget into monthly cycles
The 5 C's of credit - ✔✔ character, capacity, capital, collateral, conditions
Expense issues - ✔✔ predicted cost increases, seasonal variations, home repair allowances, car repair, children's clothing, and school expenses.
What is Spending Cycle 1?
Earn/Spend/Earn/Spend
What is Spending Cycle 2?
Earn/Spend/Borrow/Spend
What is Spending Cycle 3?
Earn/Spend/Save
What is Spending Cycle 4?
Earn/Save/Spend
What cycle describes members who are just surviving and living paycheck to paycheck?
Earn/Spend/Earn/Spend
What cycle describes members who are rely on debt to establish and maintain the standard of living they think they deserve?
Earn/Spend/Borrow/Spend
What cycle describes members who believe they can save money but most of the time there is not money left because something always comes up?
Earn/Spend/Save
What cycle describes members who has learned the vital rule for financial security: "Pay yourself first"?
Earn/Save/Spend
Financial counselors who don't use what they know about hemispheric thinking, may fall into the trap of:
Presenting information to a member in a manner that might not be the best way to communicate
List 5 qualities of the left side of the brain?
verbal, analytical, symbolic, temporal, rational, logical, linear, sequential, historical, active, focused, casual
List 5 qualities of the right side of the brain?
visual, synthesizing, experimental, spatial, non-temporal, intuitive, holistic, artistic, diffuse, timeless, receptive, sensual
What are the 4 processes of the left side of the brain?
speech, analysis, time, sequence
What are the 4 processes of the right side of the brain?
creativity, patterns, spatial awareness, context
deliquent - ✔✔ debt or other financial obligation on which payment is overdue [Show Less]