The causes and consequences of negative financial behavior have been studied extensively over the years, and the fact is that many of us lack a basic understanding of the elements that guide our financial behavior. Without the right insights and a solid plan, it can be extremely difficult to meet your financial objectives.

The Elephant in the Room can change all this. This timely financial fable contains no charts or figures about the stock market or home values, nor does it have budgeting spreadsheets. It's a story, a story of a man—Michael Davidson—and his family, who learn to regain control of their financial future.

Despite having a healthy income and successful career, Michael—who's facing down thirty, with a wife who also works, and two kids—can't seem to accumulate any savings, and continues to live paycheck to paycheck. Frustrated by his lack of progress, Michael seeks the advice of the one person who, in his eyes, has made all the right financial moves throughout her life—his now comfortably retired Aunt Katherine. What follows is a series of conversations in which Michael discovers that some fundamental concepts, all under his control, can put his family in a better financial position.

Each week, Michael, his wife, and Aunt Katherine meet to reflect on a specific element of behavior as it relates to financial success and discuss how understanding that element impacts behavior and its relationship to their financial future. Along the way, Aunt Katherine's lessons help shape their attitudes and actions, and show them how to build a sound financial plan that's in line with the family's values and goals.

Some of their informative sessions include discussions of:

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How behavior affects everything in your life, including the way you earn, spend, and save
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The need for a solid foundation of knowledge about financial issues
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How focusing on value-driven goals can help you succeed over the short and long term
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The truths, beliefs, and misconceptions we have about our finances
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What patience and discipline have to do with building true wealth
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Developing a basic financial plan to get where you want to go

While the story of Michael Davidson and his family may be fictional, the experiences behind them are not. The Elephant in the Room is based on the collective contributions of financial advisors and employees of First Command Financial Planning—a Registered Investment Advisor firm that assists families in their efforts to reduce debt, build wealth, and pursue their financial freedom.

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