In this episode of the Money Rehab podcast, host Nicole Lapin and Dr. Susan David examine the influential role emotions play in professional performance and financial decision-making. Dr. David explains why developing emotional intelligence and agility is vital for effective self-regulation, informed risk assessment, and making choices aligned with personal values.
The discussion explores the dangers of suppressing emotions and illustrates the benefits of adopting a stance of "compassionate curiosity" towards one's inner experiences. Dr. David offers strategies for cultivating self-awareness, accurately identifying nuanced emotions, and using them as guides to navigate challenging situations and make wise decisions.
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According to Susan David, our emotional state influences our judgment, risk-taking behaviors, and overall decision-making - including crucial financial choices. Positive emotions foster optimism and big-picture thinking, while negative emotions drive caution and risk aversion.
David states that emotions are direct signals of our deepest needs and priorities. Understanding the nuances of our emotional experiences can guide us to make choices aligned with our core values.
David explains that ignoring difficult emotions does not make them disappear; instead, it causes those feelings to amplify over time, potentially leading to unhealthy coping behaviors and self-abandonment.
Being able to accurately identify and comprehend emotions empowers effective self-regulation and goal achievement, David says. She advocates adopting a stance of "compassionate curiosity" towards inner experiences to create space for wise decision-making.
David emphasizes recognizing nuanced emotional experiences beneath broad labels like "stressed." She highlights the importance of shifting from "I am [emotion]" to "I'm noticing I feel [emotion]" to increase self-awareness.
David suggests using difficult emotions as guides to inherent values and priorities. Lapin and David advise identifying and honoring personal values, even if diverging from external expectations, and using values as touchstones for decisions - especially in challenging times.
1-Page Summary
Understanding the crucial role of emotions in the workplace can lead to more effective decision-making and financial management.
Emotions have a paramount influence on how we perform, behave, and make decisions in the workplace, including essential financial choices.
When individuals are in a joyous mood, they tend to view proposals optimistically and think big-picture, which can lead to more risk-taking behaviors. This mood-induced optimism can result in financial decisions that might not always be prudent, such as making large purchases or business commitments. Conversely, negative emotions can cause a person to become cautious and risk-averse, potentially limiting their decision-making abilities.
Lapin illustrates this by discussing how her success in business is tied to the ability to regulate emotions and navigate through interpersonal challenges. Additionally, Susan David points out that maintaining positive emotions enables people to view proposals in a positive light and encourages big-picture thinking, fostering a belief that things will work out.
Our emotional responses are key indicators of what we value most deeply and what we need to feel fulfilled.
David states that emotions are direct signals of our needs and values. For example, experiencing boredom at work could be an indicator of the need for more personal and professional development. When emotions are understood and managed effectively, they can be powerful tools that help individuals align their choices with their personal values.
The role of emotions in the workplace and financial decision-making
Susan David discusses the harmful effects of ignoring difficult emotions and how developing emotional intelligence and agility can be profoundly beneficial.
Susan David expresses that ignoring challenging emotions doesn't prevent them from existing; it simply means we become less adept at handling them, which may cause these feelings to strengthen over time. She notes that when people have difficult emotions and push them aside, they are embroiled in an internal conflict which can erode their well-being.
David explores the idea of amplification, explaining that suppressing difficult emotions can lead to unhealthy behaviors due to suppressed emotions "bursting out," such as yelling at a child or being short-tempered with colleagues.
She elaborates on the long-term effects of persistently pushing aside tough emotions, calling this practice a form of self-abandonment that can decrease well-being, increase burnout, and weaken relationships. David maintains that forced positivity is another form of avoidant coping that sounds appealing but ultimately sidesteps confronting actual issues.
Moreover, David links this to rising loneliness, suggesting that some may spend to feel comfortable to avoid the difficult emotion of loneliness. When children are instructed to suppress their feelings and aren't given space to express them, they are less adept at managing those emotions, leading to ineffective processing or withdrawal when faced with these same feelings later in life.
Susan David highlights the significance of being precise in identifying and understanding our emotions, empowering us to act more effectively in response to those feelings.
Labeling emotions with finesse is touted as a "superpower" by David. She refers to studies that have established the long-term advantages of being able to accurately label emotions, such as improved well-being and better ability to regulate emotions and achieve goals.
When dealing with stress or frustration, David urges asking ourselves what's truly happening to help us gain some separation from these emotions. Nicole Lapin and David emphasize the importance of recognizing ...
The dangers of emotional suppression and the benefits of emotional skills and agility
Susan David and Nicole Lapin discuss the importance of understanding and managing emotions, as well as aligning actions with one’s true values.
David talks about the significance of accurately labeling emotions and the power that comes from understanding the deep, nuanced feelings beneath broad labels.
David emphasizes the importance of changing language from "I am [emotion]" to "I'm noticing that I'm feeling [emotion]." Such semantic shifts help create space for emotional self-awareness and understanding, allowing individuals not to be defined by a single emotion but to recognize themselves capable of a complex range of feelings.
David discusses emotional granularity, which involves moving away from broad labels like 'stressed' to more nuanced emotions like feeling unsupported, not growing, or burning out. She refers to “emotion umbrellas,” under which more detailed emotions reside, and encourages diving beneath them to understand real feelings.
Children adept at accurate emotional labeling, David notes, tend to have a higher level of well-being and are better at achieving their goals over time. By engaging with this granularity, individuals can not only name their emotions more accurately but also navigate actions that align with their true feelings and needs.
Understanding how difficult emotions signal our values is a pivotal point for aligning actions with those values, especially in challenging moments.
David suggests acknowledging our values, especially in our relationships and careers. She underscores honoring your values, even if they differ from societal norms about roles or earnings. Lapin stresses the importance of identifying personal values transparently, even if they include fame, success, and money.
David points out that difficult emotions are an indicator of what is important, guiding us toward inherently personal values, not those imposed by external pressures. ...
Strategies for developing emotional intelligence and aligning actions with values
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