Master Your Money Type
How much money do you expect to have in five years time?
I posed this question to a few people, and the answers ranged for nothing, to one million dollars in recurring income in a month. How are they going to survive if they even have a single cent? Such a big gap in the answers demonstrated different attitudes towards money, since there is always an emotional component to money.
How do you feel about money? Do you think money is evil, or with money you feel you can do a lot of things with it? Do you feel guilty when you earn more than your parents or silblings? Or do you think you do not have enough money and to keep your money is an uphill task? How you feel about money could be due to the way you are brought up. For example, your parents could keep saying that rich people are misers, and treat people badly because of their wealth. You would soon equate wealth to evil and you may constantly sabotage your own efforts in making more money. Your parents could also tell you that only hard work will bring money, and you go and take up 2 or 3 jobs just to survive.
Being aware of how you think about money will help you reach your goals. Different people have different financial styles, and if you can find out how you feel about money, then you can work towards having more money.
According to Master Your Money Type by Jordan E. Goodman, there are six types.
1. The Strivers
2. The Ostriches
3. The Debt Desperadoes
4. The Coasters
5. The High Rollers
6. The Squirrels
More on that another time.
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