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Financial Self-Efficacy: What it Is and Why You Need To know About It
Presented by Sarah D. Asebedo, Ph.D., CFP®, Texas Tech University School of Financial Planning

This presentation introduced financial self-efficacy (FSE), or what we can more generally refer to as money grit. FSE is the belief that you can succeed in your financial life, that your actions will make a difference, and that you are in control. Those with higher FSE are resilient when facing setbacks and persist to achieve their goals. We can understand FSE more fully when considering the broader goal of improving clients’ financial literacy—a combination of financial knowledge, skill, and FSE. This presentation covered these core concepts and explored the impact financial planners have on their clients in these areas. Intervention examples from positive psychology were discussed.


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