Do Finance People Automatically Have High FQ?

Do Finance People Automatically Have High FQ?

Apr 07, 2021

(Click play to listen to audio version of article.)

What is your answer to that question?

It is the same as asking the questions, “Are doctors always healthy?” “Are lawyers always observing the law?” Don’t get me started with “Do lawmakers always abide by the constitution?”

The reality is that people in the field of finance, health and medicine, law, or any other field do not automatically become the best role models in their fields. We always hear statements like, “Doctors are the worst patients.” “Lawyers are the most difficult clients.” “Politicians are the ___________ (you fill in the blank.)”

This is also the reason why it is best for us to always vet the people we listen to for advice, and most especially, we vote for during elections.

But this article is not meant to condemn the professionals in these fields who are having difficulty observing their own teachings or applying the knowledge they know fully well in their personal lives. We should not be quick to judge them. It is not always easy to “walk the talk” or “practice what you preach.”

Given that, working in the finance industry does not guaranty a high FQ. A reader wrote to me to share her own experience and she was generous enough to allow me to share it with you.

From a Reader in the Finance Industry:

Hi FQ Mom. I just wanted to say hi and thank you.

I’m a 51-year old mom who didn’t do a very good job in managing my finances (My current FQ Score is FAIR). I actually bought FQ Book 1 – FQ: the nth Intelligence maybe a year or more ago, but I must admit, it was unopened until only recently. I chanced upon the article written by former Deputy Governor Diwa Guinigundo about FQ Book 2Why Financial Education Alone Does Not Work (a crash course in Behavioral Economics). In that same week, I also read an article about the late Governor Nesting Espenilla with a photo of him reading a chapter from your book The Retelling of the Richest Man in Babylon. I knew then that I had to read FQ Book 1.

My apologies for a long email but I hope I am able to condense it in the following points.

  1. The questions about my childhood money memory, as discussed in FQ Book 1, triggered not just conversations with myself but also conversations with my husband and my sister. I got answers I didn’t know before and these definitely helped me get to know them and myself better;
  • My 11-year old exhibited her entrepreneurial spirit since two or three years ago. Old clothes could not be given away anymore because she wanted to earn from them through a garage sale. She also conducted a Slime Making Workshop for other kids a couple of years ago. When she learned how to bake last year during the start of the lockdown, she wanted to go into business. Because of my inexperience and other hang-ups, I don’t think I am giving her as much support and guidance I should or could give her. Your FQ Session weeks ago that we attended was timely and a great conversation starter for us;
  • My kids aged 14, 11, and 9 don’t really like reading books. Neither do they like me reading books to them, but they were all very enthusiastic when I asked them if they wanted to learn how to be rich. After a couple of chapters of FQ Book 1, I asked if I should stop and perhaps resume the next day but they all said we had to finish the book in one sitting. This morning, my girls said we needed to read the book again and my 11 year old said she needs to take notes this time;
  • I’ve done some work with the people you know at the BSP, specifically on digital payments and cybersecurity campaigns. I was dismayed to learn about the impact of financial literacy to financial behaviors (only 0.1%). I hope to be part of a project in the future that will include consumer protection and education interventions so I will know more on what measures are more effective. I just started reading FQ Book 2 and I hope to be enlightened.

Again, thank you so much for passionately sharing your knowledge. Looking forward to learning more from you.

  • Anonymous Finance Person (via email)

What about you?

Again, I thank our reader for her generosity to share her story in this column. I am particularly thrilled that her children enjoyed FQ Book 1 – wanted to finish it in one sitting and re-read to take down notes! Big yahoo from this author!

The case of Anonymous Finance Person is quite common. Whether we’re in the finance industry or not, we are faced with the same challenges when it comes to dealing with money. I am glad that in her FQ Journey with Book 1 of the FQ Trilogy, she was able to unearth important matters about her relationship with money through her Childhood Money Memory (CMM) exercises, together with those of her core values. This is the essential foundation in building a high FQ.

I do hope that as she continues her journey in FQ Book 2 with Mak and Emong, she will get to know herself even more with the help of her ME (MakEmong) Score. If in FQ Book 1 the reader is made to understand her relationship with money, FQ Book 2 will help her discover behavioral biases that make her handle situations in her life the way she actually does. And the lessons are not just applicable to our behavior with money, but also in  our love life, career, relationships, and other aspects of life.

The truth is, there is even a danger in becoming overconfident if we possess the knowledge about something.

If we wonder why we always hear that doctors are the worst patients and lawyers are the most difficult clients, the above could be the reason. These people possess the knowledge and they may readily think that because they know what to do, they will do the right thing for themselves. If you’ve already read FQ Book 2, you now know very well through the examples and stories, that there is a huge gap between knowledge and behavior. That is why the meme of FQ Book 2 is Bakit gets ko na pero ‘di ko magawa?

So, the next time you (or others) find it difficult to translate knowledge into action, you know what to do.

Let’s continue our High FQ Journey!


  1. To get your copy of FQ Book 2 or get copies for your loved ones who are having a hard time translating their knowledge into action (whether it’s about money or the other important aspects of life) click

To know more about FQ Book 2, watch this short video .

  • Join this live session today at 6:30pm on Belle de Jour Facebook page.
  • Did you notice that #Essentials recently became viral? Join us live on Kumu on Thursday at 10:55am. We will discuss Essentials vs. Wants on Money Lessons with FQ Mom and Sons.  
  • If you’re a parent who wants to increase your FQ and teach the same to your children, join us live on Saturday, April 10 at 5pm entitled “Raising Money Smart Kids”.

How good are you with money? Do you want to know your FQ Score? Take the FQ Test and map out your 2021 FQ Plan. Scan the QR code or click the link

Attributions: mltnews, freepik & pinterest