Scenario: Values and Financial Choices

Read the scenario below and answer the questions.

  • Valentina’s values might include family, showing gratitude, and independence by paying down debt.
  • Isaiah’s values might include quality time with family, education, and providing opportunities for children

Possible Answers and discussion:

  • Call a family meeting for a discussion that could lead to consensus.
    • This advice might reflect a value of family solidarity.
  • Divide the money in half and use half for Valentina’s preferences and the other half for Isaiah’s preferences.
    • This advice might reflect a value of personal independence

Aligning Behavior With Values

Neither Valentina nor Isaiah is wrong – their financial choices are guided by their own values.
Sometimes your values might conflict with those of your community, culture, family, partner, or friends.
Your family culture may value saving and avoiding debt, but your broader community may value material things like new cars or expensive clothes. The reverse could also be true.

Sometimes your values might conflict with others’ values.
Understanding your core values can help you:

  • Set realistic goals
  • Make spending decisions that will help you meet your goals

Understanding your values can help you set achievable financial goals.