week 2 - The Psychology of Money
Week 2: Last evening class focused on the Psychology of Money. Shared what's your money personality with one another. Listed down below are three questions to ask yourself about the Psychology of Money.
What's Holding Me Back From Taking Action?
Is My Money Being Spent on the Things That Truly Matter to Me?
How should we conduct ourselves?
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Hello. Fear of not completing the task and procrastinating.
ReplyDeleteYes. My money is being spent on paying my bills down and building up a emergency fund. Food as
We should conduct ourselves wisely and be mindful of spending. Think about what you really need before spending.
Stacy, I enjoyed reading your comment. Thank you for your honesty and authenticity. Procrastination also holds me back and I strongly agree that we need to think before spending.
DeleteLoving the encouragement given to each other!
DeleteThe money personality I received was Hedonist. A Hedonist instantly turns money into joy and has troubles staying on top of their expenses and maybe viewed as irresponsible. I agree that I am a Hedonist money personality because I typically spend my money on things that bring me joy. Also, my family views me as irresponsible when it comes to money.
ReplyDeleteAnswers to Questions:
1. Since I have started this class, I have been more mindful about my money decisions. I have not seen much improvement with the amount of money I have at this time, however, I believe that as long as I continue practicing wise mind, accountability, and determine between my needs and wants then I will seen an improvement. The thing that stopped me taking action before this class was living life with no regrets and lack of wanting awareness. I believe the first action I took towards my finances was signing up for this class.
2. My money is not being spent on the things that matter most to me. My money is typically sent on sale from clothing, shoes, and accessories. Other expenses include living expenses (bills, food, transportation. I believe that if I spent my money more on travel, a passport, and saved more it would matter more to me.
3. We should conduct ourselves with wisdom, grace, dignity, and love. Accountability and not acting in impulse are strengths to how we should conduct ourselves as well.
Annastacia, my family is constantly asking me what am I doing with my money because they all see me wanting to start my own business and notice that when I have a bump in my plans I resort to unnecessary indulging in giving with my funds, so I appreciate how you are being so honest and understanding what you are doing. I am going to take from you the self examining ability and use it.
DeleteAnnastacia I enjoyed reading your responses to the questions. Love your honesty and accountability. It's eye opening to see things in a different light since we started this class. We definitely check on what's important with wants and needs. My money personality was nurturing. It's very true but I need to look after my own financial obligations.
ReplyDeletei agree with you 100%
DeleteThis post is for Charmaine:
ReplyDeleteWhat's Holding Me Back From Taking Action?
I have a habit of saying I can afford something because i don’t want to over spend and not have enough money to make it pay check to paycheck. I only work part time so i
I pay attention to what i spend and still don’t have enough to playthings off.
Is My Money Being Spent on the Things That Truly Matter to Me?
My money spending said I was a stockpiled. I use to be a stockpile when I worked full time. Being part time and making only half the money I use to make I may over spend doing simple things like paying bills and getting gas for the car.
How should we conduct ourselves ?
I could try tracking your expenses for a month to see where your money is going. This can help you identify areas where you might be overspending and see if those expenses align with what truly matters to you.
1. Prioritize my needs over my wants: my essential expenses and prioritize those. It helps to create a clear picture of what I truly need versus what I want.
1. Set a Budget: I consider setting a realistic budget based on my part-time income( I just need to stick to it). This doesn’t have to be restrictive; rather, it should reflect my current financial situation.
1. Reflect on Values: I should think about what matters most to me. Is it experiences, saving for a future goal, or something else? Aligning my spending with your values can bring more satisfaction.
1. Emergency Fund: I should figure out a way to try to set aside a small amount each month for an emergency fund. This can provide me with some peace of mind and financial security.
1. Seek Advice: when I am feeling overwhelmed, talking to a financial advisor could provide personalized guidance tailored to your situation.
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Hello Charmaine, this program will excel you in ways that you would not image. It will change your way of thinking and increase your knowledge to a greater success.
Deletewhat hold me back from taking is not paying mind of what i do if I have end emergency or lost my job that is the reason I been spending my money on not necessary things, but now taking this class make me thing before I spend and not necessary stuff
ReplyDeleteOmayra, I can definitely relate to spending money on unnecessary things. I too would like to have an emergency fund and can't wait until the day I can say that I have completed that short term goal.
DeleteOmayra your feelings are so much like I have been doing which cause me to get into a financial funk. So to begin with making things matter with the goals you have I want those same things and I hope I stick with the plans we learn together and always look at the better of financial literacy for a lifetime, only making the needed and necessary adjusts to continue moving upward. Thanks for giving me myself through your eyes.
DeleteOmayra, I can relate to not being mindful to spending before the class and being more mindful now that I am in the financial class. Thank you for your honesty!
DeleteMy money personality is Nurturer
ReplyDeleteWhat's Holding Me Back From Taking Action?
I think I was holding myself back at 1st but then I took action by signing up for this class. So that I can be educated on finances.
Is My Money Being Spent on the Things That Truly Matter to Me?
I feel like my money is being spent on bills!
How should we conduct ourselves?
Not sure if I understand this question. But maybe being mindful of how I'm spending money.
Sarai I'm so glad you signed up for this class. We will learn and change our ways financially and mentally. This sisterhood will help you on your worse and great days. The encouragement and teaching from Eileen is fabulous. Down the line we will be able to enjoy our money not just on bills.
DeleteSarai thank you for sharing I like that you acknowledged what was holding you back. A lot of time we don't realize that we are great enemy. We pick at littlest things that no one but us can see. I am glad you overcame that obstacle and joined the class. I also can sympathize with you because all my money is going to bills which can be unsettling and frustrating.
DeleteMy money personality is Conqueror
ReplyDeleteWhat's holding me back from taking action? Is being afraid that I would miss my opportunities for success of my long terms due to failure at what I most desire.
Is my money being spent on the things that truly matter to me? No, it comes right back to the thought of if I can't do what I plan to do now I have the tendency of not utilizing my skills of or art of what know and feel I should help others.
How should we conduct ourselves. We should conduct ours in a way that what we are taking in from this class, the changed mindset of money and financial management to always look at financial freedom as being a daily way that we breath and continue to make the changes that come towar us but always remember what is important to us. Live by it, don't change unless it is going to contiue on our financial success.
Sheila, I love your comment! I am also nervous that I will not accomplish my long term goals due to my impulsive spending. I love the paragraph regarding how we . should conduct ourselves, very well written! I agree that financial freedom should be assessed daily
ReplyDelete