In the introduction, the author mentions three perspectives of financial transactions, which are faith, hope, and love, and he wishes to bring more consciousness to money and its uses to an evolving appreciative economy by letting people understand these qualities. One way the author uses to explain faith is by relating it to brand allegiance: if customer’s experience with the product confirms the promise of the brand, the product earns customer loyalty and makes itself a shopping habit of the customer. Loan transactions is another example: the lender look over borrower’s creditworthiness and financial history to establish enough faith for himself to make the decision, while borrower need a faith of himself to honor the loan commitment before he asks for the service. The author says hope is a future bearing since it processes over time and gift transaction, one example of transactions based upon hope, to charity is entirely future bearing because no one could expect what the outcomes of the charity activity are and what impact the activity sponsored by this gift could bring to the world.
I believe that faith, hope and love are 3 characteristics that exist in most transactions that take place in our daily lives, whether it be economical or not. Faith in regards to that the idea that you must have faith that what you are doing and where you are going in a given moment will end up okay. Hope that we need to look forward and believe we can be better and work towards a goal and love in the way that you must love who you are and the process of who you are becoming. All three characteristics are intertwined in our everyday lives both personally and economically.
When we take a deeper look at our economic life, the way we conduct financial transaction is similar to the way we look at our soul. By slowing down and think carefully, we recognize the deepest meanings of faith, hope, and love in financial transactions. This allows us to transform the way we look at our economic life and to conduct businesses with faith, hope, and love. “So the darkness shall be the light, and the stillness the dancing.”
Breaking financial transactions into three characteristics is really unique.
ReplyDeleteI understand what the Blooms is expressing and think his beliefs are noble. I'm not sure they are practical however.
ReplyDeleteFaith, hope, and love are definitely prevalent in all transactions. It is a good point that he makes here and really lays this aspect out pretty clearly. Everyone must have faith, hope for a good outcome, and love for the transaction. If one party of the transaction is indifferent to a transaction, it most likely will not happen.
ReplyDeleteThe connection between financial transactions and the deeper facets of the human soul, faith, hope, and love is definitely not something I had thought of before. Having read this post, I can now see how all three parts are integral to a successful transaction.
ReplyDeleteIt's interesting to see financial transactions being described as something more than "needs" and "wants." However, I think this might only be good in theory.
ReplyDeleteThis was very eyeopening. Never would I have thought of faith, hope, and love having to do anything with the transactions we make. This is a very interesting idea that we can break transactions into those 3 characteristics.
ReplyDeleteI have honestly never thought of faith, hope, and love as a part of the psych when performing a financial transaction. I mean you have hope and faith things will work out in whatever you're pursuing but not always "love."
ReplyDeleteWhen people run businesses with faith and hope this will lead them to financial success. Rather than despair, people should keep their chin up and go forward.
ReplyDeleteI agree that these three characteristics usually lead to financial success, or at least more than if these characteristics had been absent.
ReplyDeleteAshooris casserole! How you doing buddy!? Great post on the characteristics of financial success! I really did learn from these.
ReplyDeleteIt's interesting to intertwine those characteristics with money, but Bloom's points are very valid. It's nice to read about the good things money can bring because we often times associate money with selfish intensions.
ReplyDeleteWeird to think about those three characteristics in financial transactions lol.
ReplyDeleteI have never associated these three characteristics with money! It is unusual because we find fulfillment in faith, hope and love in many other places.
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