Could this be you? You’ve read a ton about investing, attended some classes. You understand stocks, bonds, and the value of diversification. You own a few funds in your retirement account.
Still, you continue to ignore or neglect your money, even though you know better. Why?
Blame it on traditional financial education…where the emphasis is on filling your head with facts rather than fostering your courage to change.
Raise your hand if you’ve ever been given the tools to boost Self-Efficacy, the most powerful predictor of financial well-being. (I didn’t think so.)
Self-Efficacy—a concept developed by the Stanford psychologist Albert Bandera—is a person’s belief in their ability to succeed in a given task or goal.