Money & Life Workshops: See how powerful things happen in group settings in a workshop run by a professional mentor.You’ll also examine how you can adapt your financial behaviors to better achieve your goals. Money & Life Mentoring: Meet virtually one-on-one with a professional Money & Life Mentor, who’ll help you reflect on how money fits into your life.You can choose the one that works best for you or try all three: That’s why the Money & Life Program is free for anyone, even if you’re not a Capital One customer.Īnd since people enjoy learning in different ways, the program gives you options-all virtual for now. The Money & Life Program offers mentoring and moreĪ healthy relationship with money is important to everyone. Meet with a certified financial planner to see the math and create a plan for reaching her retirement goals.Make more time for things that brought her joy-family, friends and travel.Here are the action items that topped her list: She needed the extra guidance to keep from wondering whether she was doing “enough”-which often led to a cycle of inaction and worry.Īction plan: Through mentoring, the client found ways to live in the “now” while making retirement planning more tangible. The client also realized that she should combine what she learned in mentoring with advice from a certified financial planner. In her case, it meant having financial security that allowed her to live a full life. Through mentoring, the client defined what it would look like to enjoy retirement based on her priorities. Since she was only in her 40s and more than 20 years from retirement, she wanted to enjoy life now while also planning for tomorrow. Specifically, she worried that she wasn’t saving enough for retirement.īut she also wanted balance. “Aha” moment 3: Balancing living for today with planning for tomorrowĪnother client of Tammi’s signed up for mentoring to get some perspective on planning for the future. Manage low moods by finding other ways to deal with uncomfortable feelings-for example, going for a walk or calling a friend.Use practical money-management tips like setting up a budget to help reach his goals.Track small purchases, since they can add up and make it harder to save while paying off debt.To stay on course meant asking himself questions like, “If I make this small purchase now, will it move me closer to my goals or further from them?”Īction plan: The client took what he learned from mentoring and started working toward his short- and medium-term goals. He made it his priority to focus on those in the short term (ideally accomplished in six months) and the medium term (ideally accomplished in one to two years). He also spent money when he felt down in order to experience a temporary lift in his mood, which often led to exceeding his means.ĭuring mentoring sessions, the client identified short-, medium- and long-term goals. The client had a habit of making online purchases, believing they weren’t really adding up. He was discouraged by his debt and particularly concerned about paying off student loans. “Aha” moment 2: Changing self-defeating money behaviorsĪnother of Tammi’s clients-this one was also in his early 30s-needed help with choices around money. Community: She “gave back” by doing volunteer work with a local organization that had meaning for her.Fun: She added an “entertainment” category to her budget and found low-cost ways to enjoy herself like getting out in nature.Security: She opened a savings account that she used as an “emergency fund” and continued to save toward retirement through her company-sponsored plan.With that in mind, here’s how the client did it: The Money & Life Program helps clients consider how to use both money and time, which ideally work together. And they talked about how money could support the client in a life that aligned with her values.Īction plan: Through mentoring, the client adjusted her life and budget based on the values she identified. Then she helped her identify what was important in her life-security, fun and community. Tammi helped her client realize there wasn’t an ideal way to use her money-just the way that worked for her. But she worried that she wasn’t managing her money in the “right” way. The client was taking a practical approach to her money, living within her means and saving for unexpected expenses. Tammi once had a client in her early 30s who came to mentoring for clarity around her money choices.
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