“When you focus on problems, you’ll have more problems. When you focus on possibilities, you’ll have more opportunities.” – Zig Ziglar

Positive psychology is a field that focuses on the positive aspects of human behaviour and emotions. It is a science that studies how to promote well-being, resilience, and personal growth.

One of the core principles of positive psychology is the strengths-based approach, which emphasises the strengths and virtues of individuals, rather than their weaknesses and shortcomings.

When it comes to financial planning, the strengths-based approach can help us identify financial strengths and develop a plan that leverages these strengths to achieve financial goals.

So, what does this look like in practice?

The first step is to identify your financial strengths. This could include things like budgeting, saving, investing, and managing debt. Take some time to think about your past financial experiences and identify the areas where you’ve been successful.

Once you’ve identified your financial strengths, it’s time to set goals that leverage these strengths. For example, if you’re good at budgeting, set a goal to save a certain amount of money each month. If you’re good at investing, set a goal to grow your investment portfolio by a certain percentage.

When you’re developing your financial plan, emphasise your strengths. If you’re good at budgeting, develop a budget that fits your lifestyle and spending habits. If you’re good at investing, develop an investment plan that aligns with your financial goals and risk tolerance.

It’s also a good idea to seek out resources that can help you build on your financial strengths. For example, if you’re good at budgeting, look for resources that can help you refine your budgeting skills. If you’re good at investing, look for resources that can help you learn more about different investment strategies.

Another valuable skill to develop is positive self-talk. This means using positive affirmations to reinforce your financial strengths and remind yourself of your progress. For example, you might say to yourself, “I’m good at saving money, and I’m making progress towards my financial goals.”

Finally, remember to celebrate your successes along the way! When you reach a financial goal or milestone, acknowledge your achievement and reward yourself. This will help you stay motivated and continue to leverage your financial strengths.

Overall, the strengths-based approach can be a helpful financial planning tool. By identifying your financial strengths, setting goals that leverage these strengths, and developing a plan that dovetails with your strengths, you can achieve your financial goals while building on your strengths and virtues.

With a little bit of effort and some positive self-talk, you can take a positive and proactive approach to your financial future and thrive in your wealthspace.