Financial Mindfulness & Other Matters.
This one hurts.
Welcome back, Fam.
Last night, I co-hosted a dinner for 20 incredible founders, operators, and investors working at the intersection of tech and climate. Normally, I love convening people, but after the events of the past week, I really just wasn’t feeling it. But, I went anyway. And I’m glad I did.
In our darkest times, it’s normal to want to pull back and protect yourself from the pain and darkness in the world. And that’s okay.
Sometimes, you just want to be alone and feel the sadness wash over you.
Sometimes, you want to join a rally, sing from your balcony, or share a meal with friends.
We live in a complicated world. There is no right way to process grief and anguish. There are dark days ahead of us. The important thing is to remember to return to the light.
Women don’t start wars, but we do fight them. And we will continue to fight for peace, security, and dignity for all people and condemn terror in all forms, everywhere.
Today, we choose to face the darkness and walk forward, together, toward a brighter tomorrow.
Ready for your financial wellness workout of the week? Let’s dive into the science of financial mindfulness with Professor Simon Blanchard from Georgetown University.
Not Your Boyfriend’s Husband’s Advice
Our beloved Co-Founder and CEO, Kelsey, got married on Saturday! She will be back from her Honeymoon next week. Congratulations Kelsey!
Meet Dr. Simon Blanchard, Aura’s Director of Research
Dr. Simon Blanchard is the Provost's Distinguished Associate Professor and Dean's Professor at Georgetown University's McDonough School of Business. He serves as an advisor for Aura and shares some insight into financial mindfulness.
Simon, what is financial mindfulness and how it is related to financial wellness?
Financial wellness and mindfulness play a pivotal role in shaping our holistic well-being. In our research, we define financial mindfulness as “the tendency to be highly aware of one’s objective financial state while possessing a non-judgmental acceptance of that state.” Financial mindfulness, when practiced, is a skill that requires conscious awareness of one's financial state without being overly judgmental. When honed, it leads to better financial behaviors.
Behavioral Science Hack: Financial Mindfulness
Interestingly, research has shown that financial mindfulness is unique and distinct from general "mindfulness" and requires its own approach and strategies. Here are Simon’s 3 tips on getting started.
The foundation of financial mindfulness is rooted in understanding and acknowledging where you are.
It necessitates a blend of two crucial skills: recognizing your financial status and approaching it without letting emotions cloud judgment.
Build a habit of routinely monitoring your financial situation while ensuring emotional stability.
This interview has been edited and condensed for clarity. You can read the full Q&A here.
Did you learn something new from this newsletter about financial mindfulness?
WE WANT TO HEAR FROM YOU!
Let us know what you think of our newsletter and what additional content you would like to see! Reach out to [email protected].
FORWARD TO A FRIEND
If you like the content in this newsletter, please share it with friends so they can receive our weekly newsletters and get early access to the Aura App!
This material has been distributed for informational and educational purposes only, represents an assessment of the market environment as of the date of publication, is subject to change without notice, and is not intended as investment, legal, accounting, or tax advice or opinion. Aura assumes no obligation to provide notifications of changes in any factors that could affect the information provided. This information should not be relied upon by the reader as research or investment advice regarding any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective. This information is not intended as a recommendation to invest in any particular asset class or strategy or as a promise of future performance. There is no guarantee that any investment strategy will work under all market conditions or is suitable for all investors. Before investing, please carefully consider your willingness to take on risk and your financial ability to afford investment losses when deciding how much individual security exposure to have in your investment portfolio. Past performance does not guarantee future results. There is a potential for loss as well as gain in investing. Aura does not represent in any manner that the circumstances described herein will result in any particular outcome.
Aura provides some of the information in this newsletter under its Financial Counseling Service. The Financial Counseling Service is impersonal in nature, which means that the advice is not tailored to a Client’s, or group of Clients, individual needs and does not purport to meet the objectives or needs of specific Clients or accounts. Consequently, Aura does not rely on Suitability Questionnaire information that the Client inputs into the Platform to provide the Financial Counseling Service. The Financial Counseling Service is available to all Aura Clients. Consult with an accountant or financial advisor to find out if you're optimizing legal tax optimization strategies