Taming Emotion Elephants

by Patrick Carroll In a prior post, we listed the six most common emotions (or elephants) that can keep us from making the decisions that help us reach our life and financial goals. Perhaps you recognized a specific elephant that might be driving your decisions. We also provided you a list of general questions that you can ask to ascertain whether one of those emotions might be clouding your judgment. If those questions led you to suspect that you might be riding an elephant, that’s good news! You’ve taken the first step in taming it. No one can tame an animal that we don’t know either exists or how it operates, so in subsequent posts, we’ll discuss in detail how identify each elephant. Name It / Tame It Once you become aware that an elephant is standing between you and your goals, take a moment to assess the resources and guidance available to you. Do have a financial planner whom you trust? Do you belong to a business coaching group? Is there a trusted mentor in your life? If so, talk to that person or group and listen to their observations. Talking is great. It is one of my favorite activities, but without action, elephants tend to remain in control. We suggest that, with the help of that trusted advisor, you develop a written plan, with benchmarks, that takes you from where you are to where you want to be.