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When you were a child, were you told negative beliefs about money? How did you overcome that belief system?
I find this an interesting question. I think people have beliefs around money and that belief system can dictate your financial situation. If you were told that having money makes you spoiled then perhaps you put a mental / emotional block on making money as an adult ...if you were told money doesn't grow on trees then perhaps you have anxiety around money and obsess about financial security.
I am looking for answers stating what your beliefs are around money...how that ties into your belief in yourSELF and what you did to overcome any negative or limiting views around money, financial success/loss/security.
Thank you for your honesty. All your answers are appreciated with the greatest of respect.
Obey No1kinobe 50+
No aversion to money. No unhealthy lust for material wealth. Just a mix of reasonable ambition to do well with ignorance about money. Parents only started to get wise about money - paying off debt, saving, investments etc in my teens.
Then 1987 happened. Also struggled when we brought a business. Result, I'm rather risk adverse. Wife wanted to set up a business. I'm not so keen.
Still I was lucky to leverage that getting smart period and build on it.
I studied Investment Analysis, Economics as part of my masters and have read a lot personally.
I've invested for long term and deliberately speculated - made great returns and lost money.
I have about 20 money rules - problem is breaking them - discipline. Seriously useful if your partner shares money smarts.
Anyway, I still have debates with family about money. Good we talk about it.
They have rather simplistic views - in my view. They go spastic if I say paying more tax is good - if it reflects you are earning more. You just need to evaluate the various scenarios of what you do with your money.
Still its great if you can get to talking about money
Thinking about it. Planning, checking, learning.
Money is in my goals alongside health, happiness, relationships
Overlaps career. Get an education so you can escape low paid jobs etc etc
Your earning capacity is one side of the wealth equation.
If I could sum it up - educate yourself on the subject, understand the options for your current situation and goals.
Plan, Budget, Experiment
Don't put big money into things you don't have a good understanding off.
Appreciate risk versus reward - lower the risk as you get older
The power of diversification - lowers risk - not all eggs in one basket
Adjust your plan as you pass through life's stages.
Pay off all credit card debt before the interest free period is up.
Pay off your home mortgage
Spend less than you earn
Enjoy reaching your goals
Tina Moore
I love your statement "Money is in my goals alongside health, happiness and relationships"
I think that is healthy...wise...and smart.
Thank you for your response! I think it will help others as well... :)
With a smile,
T
griffin tucker 10+
while you pay more for the same product means that more people get a cut of the wealth that you put into buying that product. unfortunately this is not always the case.
the love of money often ends up in a situation of instant-demand, and this is not how the 1%'s got to where they are. ie. a false perception in a lot of cases. in the cases where it were at one stage to be a love of money, the sitatuion is often reversed, in the sense of doing more for their community while keeping level playing fields across different communities, to ensure innovation occurs.
innovation often occurs out of necessity more often than not. but not knowing what the necessitiy is, is where problems can occur.
although patching a problem with money seems to work sometimes, it's not only money that fixes a problem, but, if i were to steal a quote from apple - "Think different." this enables to think on all stages of the spectrum, from the local supermarket for food to where it goes in the long run.
Steve Jobs was genius in his deal with China to build so many iPhones. He saw the necessity for Chinese workers to have jobs (better than no jobs at all, i would think!) and make progress for China _and_ Apple Corp. Although this is debatable.
myself, i'm not interested in becoming richer than what work I have put into it, along with the responsibility that i think i can manage. i have only recently adopted this attitude, which makes me think different about the money i spend, and what i save.
i've heard a dollar a day saved will make you a millionare in 10 years, as long as you let the interest grow.
Tina Moore
A dollar a day saved...10 years...hmmm...I'll keep you posted as to whether that is true :)
I believe money offers security in the sense of feeling safe knowing that you won't be thrown out of your home because you can't afford it, or you can feed / clothe your children as needed but I also know some very unhappy people who have a lot of money...
So, money perhaps enhances life but doesn't give you the core elements that enrich your life...I'd rather have a 100 people by my side when I am about to leave this earth than a 100 dollars :)
Hope you have a wonderful day!
With a smile,
Tina
Chuck Fellows
Negative belief - money is important.
Overcome these beliefs through understanding that money is a fiction created to speed and simplify the process of exchange of value.
Determine what value means to you as an individual.
Tina Moore
Chuck Fellows
Our perception of value in individual and continually changing over time. It's not the same for all since diversity in cognitive characteristics is of great "value."
To me, value is an emotional response that is the product or outcome of an activity that provides an intrinsic reward to the individual voluntarily participating in that activity. It is not material reward.
By example, the value a teacher derives from participating in the learning growth of a student, a parent observing the emotional growth of their child, team members learning from their mistakes and successes, someone learning the real utility of money as a transactional lubricant.
The ultimate 'value" is the never ending ability to continually learn and become wise enough to act with knowledge while doubting what you know.
Hope that makes sense.
Tina Moore
Thank you, hope today treats you with kind hands!
With a smile,
Tina
edward long 100+
Tina Moore
edward long 100+
Tina Moore
I value fishing too! There is patience and skill required...there is accomplishment and sense of peacefulness while you are out there...there is an appreciation and respect for nature...
I suppose it comes down to priorities...and a way of life...some thrive on the buzz of the stockmarket while others enjoy the peace of the ocean...neither is right or wrong but rather an individual choice...
Hope you are enjoying your day!
With a smile,
T
Vineet Punyamoorty
Tina Moore