Changing Your Money Habits

We are all wired differently when it comes to money.  You’re money personality is made up of seven tendencies that shape how you handle money.  Rachel Cruze, two-time #1 national bestselling author and financial expert, gets us “in the know” about how to manage your money better based on your tendencies.

  1. Experiences or Things. 
    1. This money tendency is about what you prefer to buy.
    2. I would rather spend my money on a vacation. My husband would much rather something tangible.
    3. This can lead to misunderstandings because you value money for different reasons.
  1. Safety or Status. 
    1. This is about why you want money.
    2. For safety people, you want to know you’ll be okay if something bad happens. Money is about peace of mind.
    3. What to watch for: Don’t allow fear to drive your decisions.
    4. For status people, money is about personal achievement. It is a benchmark of success.
    5. What to watch for: Don’t let your achievements become more important than your character.
  1. Abundance or scarcity. 
    1. People who lean toward abundance believe there’s more than enough for everyone—glass half full mentality.
    2. What to watch for: being so optimistic about money that you stop walking in wisdom. Practice delayed gratification and talk through a decision you’re making before you make it.
    3. People who lean toward scarcity make money decisions believing that resources are finite—glass half empty. They play it safe with money.
    4. What to watch for: having a closed fist with money. Don’t rely solely on your own opinion. Bring in a trusted friend or advisor.

Rachel’s book, Know Yourself, Know Your Money is available now wherever books are sold, or click here.

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