If you put two people in the same situation where they need to handle money, they're likely to react to the situation differently. Our past experiences, values, and a multitude of other variables all influence our reactions. Understanding how we react to money can help us better manage our finances.
To improve your financial well-being, it’s worthwhile examining how you approach money as well as your values and how they relate to your financial decisions. These first steps can help you better frame personal financial goals and recognize barriers to overcoming financial hurdles. Whether you prefer listening to video recordings or podcasts, Illinois Extension’s educators’ discussions can help you discover your money strengths.
Syble Solomon, author of several books on this topic including Money Habitudes: A Guide for Professionals Working with Money Related Issues, explains that money personalities are a combination of our attitudes (our subconscious thoughts and feelings) and our habits (what we do without thinking). While she calls these "money habitudes," the concept is very similar to how other professionals refer to money personalities. Read the full blog.
A little bit here, a little bit there, where did the money go? Different approaches to managing money work for different people. Have you thought about applying mindfulness concepts to your financial decision-making? This might be a good fit for you!
You likely have family and friends whose financial behaviors baffle you! Relationships are often challenged by money conflicts. Expand your exploration about money to think about how it affects your relationships with those important to you.
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