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?
First off let me just say , last nights class was amazing , I am so happy that we feel comfortable sharing with one another to all reach a coming goal.
ReplyDeleteYes! Ditto. I appreciate your sharing this!
DeleteYour welcome!
DeleteMy Money personality is one that is frugal, or I would like to think so. I am a couponer who LOVES a deal or a bargain, so if i do not immediately need it i do not get it UNLESS such a great deal that i can stack coupons with , either paper or digitally.
ReplyDeleteThat way it allows me to use that savings towards bills or necessary items. However the problem is I am not working right now so i have to make do with the monthly income i do have and make the minimum payments, which is fine, however I was use to making slightly more that the minimum, but always trying to pay ONTIME, to avoid a large late fee. 1. So that is one of my reason for being held back in taking action. 2. I do believe my money is being spent on the things that matter to me , as I try to buy things within my means and that is needed at that time.
3. We should all , especially in this economy, try to save money and spend wisely whenever possible, of course bills will always be there and need to be paid, and timely.
so keeping that frame of mind of is this a Want or a Need?
Onika - I'm so happy to hear that you are enjoying the Financial Literacy Institute and sharing resources with your classmates. You will soar like wings of eagle and experience great adventures.
DeleteI appreciate your words, thank you.
DeleteHi Onika, I always wanted to learn how to coupon. I see how much people save and to me is amazing. I also agree with you that we should all be using our money wisely. Glad to be in this class with you all.
DeleteMy money personality was frugal as well. I look for sales in the paper before I go shopping. I enjoy CVS with the extra bucks. It's free merchandise to have.
ReplyDeleteMy family that I live with is holding back. They don't take accountability about paying me their portion of money on time so I am dipping into my money to make sure the bills are on time.
Yes my money is being spent on the things I need survive on the daily basis.
We should conduct ourselves gracefully and not show weakness.
Stay true to ourselves.
It sounds like it could feel frustrating and disappointing to have people not show up and meet their commitments. I cannot imagine the whole of how that is for you and I hear your intention to be graceful and firm. Staying true to oneself is very powerful way to live.
DeleteI look for sales all the time too ...and will go to different stores so that I can save money. It seems paradoxical that my money personality showed Hedonist, as I am always trying to find the sales AND I am buying what I call fluff stuff - things not planned. These things are a huge energy leak for me, has generated chaos in my life, and has accounted for me going negative some months.
Hearing of how you are practicing frugality and buying just the things to survive has affected me. It sounds like you are able to stay mindful of your 'big picture' and make choices within the scope of your control accordingly. I, up until now, can forget my big picture and am hopeful my participation in our class with help change my pattern - new practices of frugality and accountability.
Stacy, what I do, and if you have Tik Tok, i search CVS or walgreen deals for that particular week, then clip my digital coupons, that has been so helpful. Also i know all to well about being held back, but im happy you are still able to maintain and do what you need to do within YOUR household.
DeleteStacy, I can imagine how frustrating this is for you.When there is no accountability and responsibility from family not meeting you with the care of the home expenses on time. From personal experience sometimes we need to create uncomfortable situations and conversations to create a visual of the situation for them to understand.
DeleteGreat point Onika need or want. I will remember that when I go into the store. Like Eileen said do an inventory check of what you have. Thank you very sharing your thoughts and ideas
ReplyDeleteYour Welcome
DeleteUp until now, what seems to have been holding me back from taking action is experiencing lack of enoughness, on myriad levels levels. Old, stuck subconscious messages of undeserving and unworthiness playing out and reoccurring vibes of fear & shame. Undercurrents. I am really grateful that Tuesday's class felt supporting of a change in paradigm. Just because things have been a certain way, doesn't mean I need to continue the same pattern.
ReplyDeleteTime for that pattern interrupt!
One tangible pattern to change up is how I have used my money love on "fluff stuff" - to cope through the moments - not to save and use towards things that are more abidingly life nourishing/truly mater. I was not surprised my money personality was "Hedonist" - and while the explanation of that was not an exact fit and it feels embarrassing to share with you - its explanation showed compassion.
What 'ere the back story, I do want to use FLI as an opportunity to rise up, and meet challenge to stay on top of my finances by practicing mindfulness, Sacred Noticing, presence, curiosity, and compassion whilst using the tools available: To live in ways that truly nourish and align with my values, and goals. My hopes and dreams require action, and here I am.
I have started my money love tracking, using my "Any List" app for grocery lists & menu planning, and have created a new spending plan for next month.
Its Amazing how we all realize following a mindset is what we all need to do , to grow forward.
DeleteMy financial inclinations reflect a nurturing personality, and I derive satisfaction from assisting others. However, I have observed a pattern where I buy things for people who promise to reimburse me, but they often request more items without settling their debts. It has become apparent to me that I must establish boundaries and curtail my excessive spending. I am realizing that I need to allocate more focus on self care and reduce my need for materialistic things, as I have noticed that these purchases don’t always contribute to my happiness. Additionally, I recognize the need to explore alternative avenues for utilizing my money that bring me greater joy.
ReplyDeleteHello Jess. You’re currently embarking on a journey of action. Implementing a well-structured plan with support will simplify our life. You’re on the path to acquiring knowledge that will enhance clarity and understanding, ultimately leading to positive transformations in our lives.
ReplyDeleteI agree with Nicole, she pointed out important key points well- structured plan, support, knowledge and understanding important elements to all of us soar in our journeys.
DeleteHello Stacy. I can relate to you especially when you are expecting assistance and everyone is depending on you. I think people have expectations of us but we do not hold them to the expectations we have of them. I am learning boundaries. Keeping boundaries are hard especially for me. I am not confrontational and at times people take advantage of that.
ReplyDeleteMy money is holding me back because I can't save. I have nothing but bills and children. Yes my money is being spent on responsibility. In order to have a car, I have to pay the note and insurance. In order to have somewhere to live, I have to pay the household bills. In order to try to fix my credit and not say forget it, I have to pay my debt monthly. When it comes to money, we should conduct ourselves in ways that we can afford. That's, paying our debt and saving. But its hard to do that when enough money isn't being made to keep up.
ReplyDeleteDaisy, I felt this to the core. I feel the same way. Before you even get paid you already owe it. Praying for us all through these difficult times, you are not alone.
DeleteOnika I will check Tic Tok. That's good to know. I'm excited. Thank you
ReplyDeleteYour so welcome I actually just got off TT and saw some other deals on T.P. and toothpaste i missed, staples we always need, not just want..
DeleteI tried to learning how to coupon but realized I'm terrible at it. I admire people that are very successful in this saving sport.
DeleteOh Liz, you got this! Couponing is definitly Not what it use to be. However with digitals and some printables on www.coupons.com, as well as going on a particular Brand site and requesting coupons, savings can happen. Also i use FETCH, which allows you to upload receipts, and once a certain amount is accumulated , you can turn in for Gift cards . So far I have gotten a NIKE gift card and 2 AMC movie gift cards, and Dunkin Donuts. I have a few other site when i get a chance i can add them to the thread.
DeleteFetch is good. I justed a month ago.
DeleteThank you for the pointers Onika
DeleteI love Fetch and your welcome ..
DeleteI love fetch my daughter put me on. If there's any other sites out there would love to hear about them. Thanks
DeleteDaisy I understand what you are saying. It's never enough money to get ahead. I'm tired of living pay check to pay check definitely hard raising children as well. Just want to be comfortable and not feel that struggle. I had to many panick attacks. I'm praying everything will work out for you . You're a strong lady. God will bless you. This class is going to help us get on the right path so we can breathe.
ReplyDeleteThank you for your words of inspiration I am looking forward to finally get ahead!
Delete" It is often the small steps, not the giant leaps, that bring about the most lasting change." You are all amazing ladies and the light will be brighter and brighter. Keep up the good works.
ReplyDeleteThank you
DeleteThat is something I struggle with Eileen. When it comes to saving, I always felt like I had to start with a large amount, but thanks to this class I am learning the difference.
DeleteBased on the quiz I'm a nurturer. I do agree with the description. Currently I am practicing boundaries when it comes to helping others. It's OK to help but it's also ok to say no which it has been hard for me at times. If I want to accomplish my goals boundaries need to be in place and followed. Which it it hasn't been an easy task. My money it seems to be well spend but there is always room for improvements. I need to be honest to myself, by keeping records of my spending and savings and take accountability and reevaluate my spending habits.
ReplyDeleteI'm like that too. I have to also reevaluate my spending. But it just seem like I always need or my children. Just tonight alone my children did laundry and a crayon was in the dryer and it marked up all of their white uniform shirts. Shirts from last school year because I didn't have the funds to buy new ones yet. So now they have none. So now, this will be an immediate expense that had to happen and another bill not getting paid this week coming Friday.
DeleteGood evening, ladies,
ReplyDeleteI apologize for my late response. I decided to take a weekend away from the world and I went to a woman's retreat 3 hours away in a cabin, by the lake, no internet service. It is so important to take care of our mental health. I can't pour from an empty cup.
I enjoy our time spent here together and listening to everyone. I don't feel alone.
I took the quiz, and it was what I thought it would be. (The Nurturer)
1. What's holding me back from taking actions?
I would say my own self. I have so much potential but scare of change.
2. Is my money being spent on this that truly matter to me?
Yes, bills, groceries, car note, etc. Once in a while I will buy takeout only if is a busy day and I can't make it home on time to cook.
3. How should we conduct ourselves?
We should definitely have boundaries; times are tough for us all.
I love it... Nothing like self care..
ReplyDeleteHello ladies sorry I am just now entering into the chat. So I took the money personality quiz and apparently I am classified as “The Nurturer”… it’s kind of surprising to me because I would think spending money instead of saving it isn’t nurturing at all…. What’s holding me back from taking action… hmmm… I would say fear has held me back. Eileen made me realize yesterday that it’s been Fear holding me back which truthfully has been a struggle of mine ever since I was a small child…. Fear of singing in front of people, Fear to succeed, etc. I am ready to kick dear to the curb and press into my potential. Is My Money Being Spent on the Things That Truly Matter to Me? I would say yes and no … half of the time I’m buying things that matters to me but not needed at that present time. A lot of the things I buy could wait I don’t really need it then. How should we conduct ourselves? Responsibly and not off impulse… truthfully I need to be more responsible when it comes down to my spending habits too much spending off impulse is happening.
ReplyDelete