Money Choices

prototype
only— not for
shapes distribution

D I S C L A I M E R The CFPB has prepared this material as a resource for the public. This material is provided for educational

WORKSHEET

otherwise qualified professional. The CFPB is not responsible for the advice or actions of individuals or entities from which you

Who
my money
choices?

and information purposes only. It is not a replacement for the guidance or advice of an accountant, certified financial advisor, or
received the CFPB educational materials. The CFPB’s educational efforts are limited to the materials that CFPB has prepared.
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There may be other possible entities or resources that are not listed that may also serve your needs.

This tool will help you:

Think about this:

• Think about your
everyday money choices

Families make money
choices together and
separately. Each person
may have different ideas
about what’s important and
why. Inside are questions
that will help you see who
makes money choices, and
consider what makes those
choices easy or hard.

• R
 ecognize how family
members influence
those choices
• P
 lan for small changes
that could make hard
choices easier
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Protection Bureau

Start with one question:

How did I make
my last money decision?


1. In my family, money
decisions are made by:


2. When I make a money
decision, I tend to talk
with:

5. It could be helpful for our money decisions if we:


3. Growing up, money
was:


4. At home, decisions
about money are hard
when:

WORKSHEET DISCUSSION GUIDE

Who shapes my money choices?
G U I D I N G T H E C O N V E R S AT I O N
Financial decisions are never made in a vacuum. They are influenced by our
feelings and attitudes toward money, and—whether we recognize it or not—by
the financial feelings, attitudes, and behaviors of the family members around us.
This worksheet is intended to guide a conversation between you and your
client about the role family members play in influencing financial behaviors.
By making those connections visible, this 10-minute exercise may spark a new
awareness of their own behaviors and choices, which can lead to new ideas or
strategies to achieve their financial goals.
This worksheet is intended to be completed as part of a conversation between
a practitioner and a client. It is designed to start a conversation and is not
meant to be completed alone.


1. In my
family, money
decisions are
made by:


2. When I
make a money
decision, I tend
to talk with:


3. Growing up,
money was:

Encourage your client to list everyone in the family who
makes decisions about money. This may include a spouse,
children, or others living within or outside the home like a
parent or grandchild.

Encourage your client to think about their own behavior and
why it’s so. Does s/he make financial choices on his/her own,
or consult with a spouse or friend? By exploring “why,” you
may discover feelings that s/he may not have realized.

This is another way to uncover feelings your client may have
about money. Rather than a conversation about family history,
which may be uncomfortable, encourage your client to
write down one or two adjectives or descriptive phrases. For
example, tight, stressful, not talked about, etc.


4. At home,
decisions about
money are hard
when:

5. It could be
helpful for our
money decisions
if we:

Work to pinpoint what’s hard about money conversations.
Encourage your client to focus on actions or behaviors, rather
than individual people. Ask open-ended questions (“How
did you handle that?”) and focus on strengths (“What did you
learn?”).

Encourage your client to think of one action they can take,
that could help address a challenge or idea raised in your
conversation together. For example, ask your client, “Think of
a money goal you could achieve in the next few weeks.” Then
guide your client to break that goal into small steps.

RESOURCES
Is this a good tool for your client? This tool is for use with clients who are ready to
explore their relationship to money. It is not advised to use the tool with clients and
families in the middle of crisis, or with families where there is a high level of tension, or
risk of conflict.
Need to make a referral? Money arguments can be a sign of much deeper issues. If
you are in a situation where you feel unqualified or uncomfortable, refer your client to a
licensed mental health professional or, if feasible, to one with specific training in
financial planning. Please consult with a peer or supervisor right away if you have
questions. One example of a website that may be helpful is the Financial Therapy
Association Network. www.financialtherapyassociation.org/find-a-ft
Want the theory behind this worksheet? Read the literature review upon which it’s
based. www.SonyaBrittPaperTBD.gov
Want more exercises like this? Check out the CFPB’s Your Money Your Goals toolkit for
more resources and conversation starters.
www.consumerfinance.gov/your-money-your-goals/
Consumer Financial
Protection Bureau