What’s Your Money Type?

The love of Money is the...  Money doesn’t… Rich people are….  Save for a…. 

I bet you could fill in all the blanks of those money clichés. It’s not money that’s evil, but the LOVE of money. We wish money grew on trees. I know many wealthy people that are anything but greedy and it’s always good to save for a rainy day.

We know the answers to these money clichés because we unconsciously pick up the cultural messages around us – many of which tell us there’s never enough money.

I think it’s safe to say that all of us have some type of money “stuff”. One way to dig deeper into understanding what is driving your money bus, so to speak, is by looking at your Money Type.* 

Answer these questions to see if this Money Type is one of yours:

Do you have a tendency to avoid paying your bills? Does the thought of money make you anxious? Do you consider yourself naïve about money? Is it difficult to even know what you think or feel about your money? Perhaps though making good money, you’re still hoping prince charming will ride to the rescue?

If you answered yes to these questions then The Innocent Money Type is showing up in your relationship with money. The 8 Money Types aren’t who we are, but they help us see more clearly what we think, feel and how we act with money. The Type shows us our money strengths and weaknesses. 

The Innocent Money Type appears more often with women than men, probably because women haven’t been in the work force for generations and women have been taught that they are to be taken care of. That’s different now, but it takes time to move past all that programming.

Here are 3 suggestions to move your Innocent Money Type to feeling and doing better with your money:

1)   Take the FREE Money Quiz to see what other Money Types are showing up.

2)   Take baby steps to make changes. Not paying bills? Start there.

3)   Anxious whenever you think about money? Call a friend and ask them to talk you through the anxiety. Or, take 10 breaths (really this calms the fight/flight reaction) and then pay the bill.

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Certified Money & Business Coach, Professional Speaker & author, Lynn Telford-Sahl, writes the weekly PowerUP Your Money blog for women in sales and small business. If you’re ready to PowerUP your Money, your Business & your JOY get your FREE Strategy Session with Lynn at powerupyourmoney.com

(*Money Coaching System copyright material developed by Deborah Price, Money Coaching Institute and used with permission)

Women in Business: What’s Your Greatest Money Challenge?

What do women in business consider their biggest money challenge?  I conducted a survey last week to get feedback on that money question and others. In response to:  “What’s your greatest challenge with money” - not surprisingly the two highest responses by percentage were “not enough” and “not saving enough for the future.”  When women replied to what the reason was for the lack of money 55% said they were focused on surviving today, followed up by 23% “not saving or investing for the future.” 

I understand the whole focused on today reality. Been there. Especially when raising a family, working like a maniac and trying to squeeze a little fun out of life. When I talk with young women especially, too many aren’t saving ANYTHING for their future. But, they’ll take $40.00 and blow it on a meal out, a new purse, beauty products (look in your bathroom drawers and see how much money is sitting in there!!)

In order to change the “not enough money” piece we have to take Action – preferably NOW.  I’m not a financial advisor, I’m a Money Coach with a 20 years in the field of Psychology & Addiction.  I know it FEELS good in the moment to BUY something, but take a breath, think about whether that purchase is going to do anything for you when you’re 70 or 80 and right NOW start an investment account or a savings account with an automatic deduction of $20-50 a month. You won’t miss it and in ten years those beauty products will be dust and you’ll have money saved!!