Values can have a significant influence on an individual’s purpose. An individual’s purpose often reflects their deeply held values and beliefs, as it is shaped by what they consider most important in life. For example, if an individual values creativity, they may pursue a career in the arts or design that allows them to express their creativity and give back to the world in this way. Alternatively, suppose an individual values social justice; they may feel compelled to work in a vocation that allows them to positively impact society, such as in human rights or public service.
As Financial Coaches, we are curious to understand how our clients’ values influence their priorities, and help them determine what they want to achieve. For example, suppose an individual values financial security; they may prioritise career advancement and saving for retirement, while if they value work-life balance, they may prioritise spending time with family and pursuing leisure activities.
Ultimately, an individual’s purpose is shaped by their unique combination of values, experiences, and aspirations. It reflects who they are and what they want to contribute to the world.
Values?
Personal values are beliefs, principles, and standards an individual believes are essential and guide their behaviour, decisions, and actions. They are the things that matter most to a person and reflect their priorities, preferences, and beliefs about what is right and wrong, good and evil, and important and unimportant in their lives. A range of factors, such as family upbringing, cultural background, life experiences, and personal reflection, can shape personal values. Examples of personal values include honesty, integrity, compassion, respect, accountability, freedom, creativity, loyalty, and fairness.
Purpose?
On the other hand, the purpose is a sense of direction or intention that gives meaning to an individual’s actions and goals. It is the underlying reason why someone does what they do, and it often reflects their values, passions, and aspirations. Purpose can differ from one individual to another, such as personal and professional.
A sense of purpose can provide a sense of fulfilment, motivation, and drive. It can also help individuals navigate challenges and setbacks and make choices that align with their values and goals. An individual’s purpose may evolve as they gain new experiences and insights. It can be influenced by various factors such as family, culture, religion, and personal beliefs.
What is the best way to help clients uncover their values and purpose?
We can support our clients in determining their values in several ways, and the best approach may vary from person to person. Here are some standard methods:
1. We can give our client one or more of the following exercises to do:
- Let them explore a list of values: Look up a list and read through them to see which resonates with them. Narrow down the list to their top 3 values. Download an example of such an exercise here.
- Let them observe and journal how they spend their time and resources. Which activities bring joy to their life.
- Let them ask friends or colleagues to describe what they think are their values.
- Let them reflect on their timeline and observe their life experiences, beliefs, and priorities while considering what matters most to them, what brings them joy and fulfilment, and for what they stand.
- We can take our client through a values conversation. We unpack different models in our 12-week and 11-month courses. However, I will dedicate a future article to this topic.
3. We can provide them with a values assessment. Here are some assessments you can use:
Via Character strength assessment
Although the following Ikigai assessment is a long assessment that gives a rich output that can lead to an expanded conversation with your client discussing Ikigai.
We unpack values and technology during our March Thought Leadership conversation. See more detail below.
Ultimately, determining one’s values is a personal process that requires self-awareness, reflection, and honesty. It is essential that you are open-minded and curious about what matters most to you. We, as financial coaches and planners play a crucial role in helping clients uncover a purpose statement for their financial plan and align their resources to enable them to live the life they want.
Greg Sloan, Chief Purpose Officer and a financial coach from Wealthfully joined us all the way from Atlanta to talk about the importance of understanding our clients’ values, during our March 2023 Financial Coaching Though Leadership conversation. Here is the recording of the session.
