Ohhhh....I get it now!
You’re in the forest. You’re walking along a path when you sense something nearby. You turn to see a massive animal moving toward you. It’s 10 feet tall and has giant ears. Its trunk is swinging left and right, moving objects and drinking water as it walks along. This is one big elephant.
You see that a person is sitting on top of the elephant. Mysteriously they look a bit like you. They’re talking to the elephant, giving instructions in a stern voice. You hear the rider telling the elephant things like “stop looking over there” and “come on, you can snuff all the plants you’d like…later.”
As you assess the situation, you can see that while the rider has a mission, the elephant is exploring whatever catches its fancy as they travel down the path.
This tale helps us understand human behavior. In fact, NYU Psychologist Jonathan Haidt came up with the elephant and rider analogy to describe 2 parts of our brain...
We can think of the rider as our rational brain, the part focused on logic and reason. The rider contemplates the future, makes plans, and solves problems.
The elephant is like our emotional brain, the part seeking pleasure and avoiding pain. The elephant provides power for our journey and can sometimes get overwhelmed.
Even though the rider sits on top of the elephant and is seen as the one in charge, don't forget, the elephant is the largest animal walking on Earth. So, when there is a disagreement on which way the duo is going, I think we can all agree that the 11,000 lb animal is going to win!
There’s a third player in this tale too…the path. The path is our environment, the external factors that affect us. And when the elephant and the rider work together and can travel a clear, smooth path? Clouds part, the sun shines, and harmony ensues :)
Now, think about your life and what you’d like to achieve. What are the healthy financial habits you want to have? How do you want to emphasize more wellness in your life?
If you want to make change, here’s what to do:
Direct the rider. You can start with the big picture and imagine where you want to end up. Then get clear on how you’ll get there. Determine the specific incremental steps and actions you’ll need to take to reach your goals.
Motivate the elephant. When you set goals, remember why you’re looking to achieve them. Tap into your emotions. What will it feel like once you’re there? Picture an elephant’s peak drive and ambition…it’s unsurpassable!
Shape the path. Think of the path as your environment. When we make our path as smooth as possible, travelling is much easier. Remove obstacles that could get in your way and shorten the distance you need to go between milestones.
Paving your path is essential when it comes to instituting healthy money habits. Consider these ways to carve a smooth financial path ahead.
Put your cash cushion emergency fund in a distinct bank account so you won’t be tempted to dip into it for any other use (label it!)
Create a folder in your email inbox to keep track of receipts from charitable donations and save yourself time when it comes to preparing your income taxes and noting possible deductions.
Set up bill-pay and automatic payments to pay routine bills on time.
Establish automatic contributions to your 401k or employer-sponsored retirement plans and invest for your future self with every paycheck.
If you’re self-employed, mark quarterly dates on your calendar as a reminder to make retirement contributions.
Change can happen. New habits can be formed. Goals can be attained.
I find the elephant and rider analogy to be really helpful to understand why sometimes change can be so hard. Remember, oh rational brain, you cannot simply drag or push an elephant that has a 6-ton weight advantage…
We have to acknowledge the needs of both emotion and logic. And to improve our chances of ongoing success, we must clear our path!
What are you going to do to shorten the distance your elephant and rider will be travelling as you crush your next goal? Start moving those obstacles now!