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FiCEP Exam Prep with verified solutions graded A+
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FiCEP Exam Prep with verified solutions graded A+
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FiCEP Exam PrepFinancial Counseling Myths
Misconceptions like finding quick solutions and blaming members for failure.
Financial Counseling Is
Unpredictable
Creative
Interactive
Spontaneous
Weighing Options
Suggesting Solutions
Financial Counseling Isn't
A substitute for professional therapy, a one-size-fits-all formula or an opportunity for counselors to take control.
Financial Counselor Qualities
Being a good listener, non-judgmental and the ability to control the conversation
Decision Making Tools
Essential obligations, force-field analysis, and cost-benefit analysis. Essential Obligations decision making tool
Defining the needs the member must fulfill.
Force-Field Analysis decision making tool
View all the forces in favor of or against a plan.
Cost-Benefit Analysis decision making tool
Weighing the costs and benefits of two solutions.
Benefits of counseling credit union employees
Increased productivity, reduced absenteeism, increased loyalty and increased benefit enrollment.
Scaling
A decision making technique that involves a rating system to rank needs, goals or levels of motivation.
Reframing
A decision making technique that involves helping members look at something differently.
Using exceptions
A decision making technique that involves focusing on a positive outcome.
Future pacing A decision making technique that involves looking into the future to see how things could be.
Quotes and stories
A decision making technique that involves demonstrating how the member can succeed because others have done so.
Metaphors
A decision making technique that involves expressing a current situation in terms that represent an alternate reality.
You should not try to change a member's...
Values
Money avoidance
Based on the view that money is evil or undeserved. Members see money as a source of fear or disgust and avoid earning, saving, or spending it.
Money worship
The belief that money is synonymous with happiness and success. Members may insist that money holds
the solutions to all problems and may have issues with workaholism or compulsive spending.
Money status
Members associate wealth with self-worth and may try to "keep up with the Joneses". Money vigilance
Members have a perceived need for secrecy about their financial affairs and tend to avoid buying everything, even things they need.
paralanguage
words deliver meaning by how they are said and their timing
selective perception
seeing things differently as a result of patterns experienced
patterned responses
patterns are so engrained that responses are automatic
hard approach
Communicating in an orderly, specific or straightforward fashion.
soft approach
Using humor, metaphors or personal stories to communicate.
soft approach
This communication approach can be used to help overcome resistance.
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