Money is like food – we all have our weak spots. Some of us spend money emotionally. Some live in fear about money. Some have no fear! It's important to identify what your unique financial strengths and weaknesses are so you can start to address them and move toward financial freedom and ease. The purpose of this exercise is to examine your beliefs and emotions about money so you can see how they may be affecting your saving and spending habits, and identify areas for improvement. Emotional Side of Money - Questions to Ask/Answer: (This exercise will be more effective if you actually write your answers down)
- What is important to you about money?
- What emotions do you associate with money?
- What lessons did you learn about money from your family growing up ("good" or "bad"), both directly and from observation?
- In what ways do you manage money well?
- What are some specific ways you could manage your money better?
- Describe your ideal financial picture. How are you making money? How are you managing it? How are you spending it?
- What area of financial management or spending concerns you most?
- What one action could you take today to improve in this area?
- How will you reward yourself for improving in this area?
That's it! All your money problems solved, right?