Chapter 1. What is my relationship with money?

 

To find out your relationship with money, you should consider taking yourself on a trip towards self-discovery and self-exploration. You need to find honest answers to a set of questions to help you identify your values, attitudes, and behaviors towards money management. You can use self-reflection as a powerful tool to cultivate meaning in your life.

 

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How to

As you get to know yourself, you begin to recognize the effect of your financial behavior on your life and those around you. Only at that time, you become open to sharing your priorities, perspectives, and your goals in life, including your financial goals. You can make deliberate decisions to connect more effectively with your partner, your friends, your family members, and your community in general.

Here are a few exploratory questions to get you to identify your relationship with money:

  • What beliefs did you inherit from others in money matters?
  • What do you remember the most from your childhood in regards to money?
  • What is the first word that comes to your mind when you hear the word "money"?
  • How important is money in your life? Why do you feel that way?
  • Would you take a job (you may or may not like) just for the money?
  • What do you do to determine the monetary worth of items? 
  • Which do you value more, money or material things?
  • How do you make decisions to spend money (spontaneous, careful, do not care)?
  • How do you feel about financially privileged people?
  • How do you feel about financially deprived people?

There are numerous questions you can explore in your own environment and community to discover your real feelings towards money. We deal with money every day, but we seldom stop to comprehend our feelings towards money and money management.

 

Practice

Now that you can explore on your own to decide which money personality might be primary for you and which one might be secondary, think of paying it forward and discuss money personalities and your relationship with money with a friend or a family member.

  

Congratulations! You can move on to Chapter 2. How to discuss money matters honestly and openly?

To review the full module on Money and relationships, click here.