#91 – Understand Your Money Behavior

On to our 9th financial challenge. This week the challenge is to think about our money behavior compared to our money philosophy. Money is emotional whether we like it or not. There is no right way of being a spender or saver as long as you are not at the extremes. It’s finding the right balance between them just like everything else in life.

Easy challenge: Determine whether you are naturally a spender or saver. We all have a natural tendency to lean one way based on how we grew up, our values, and mindset.

Medium challenge: Determine what philosophy do you fall under. There are 4 philosophies or scripts about money: avoid it out of anxiety/fear/lack of understanding, believe it is the key to happiness, try to keep up with others, or you act cautiously. Which one do you naturally tend towards.

Note: I keep including naturally because we can be aware of our tendencies and intentionally go another route.

Hard: Compare your behavior to your philosophy. Do they align? Ask yourself: When I save/spend money, I feel…. When I save/spend money, I want to feel…. If they are not aligned. How can you align them better?