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Recognizing Money Personality in Your Students: CASFAA 08

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Do you love to spend money? People tend to form relationships with money opposites ... Laura Rowley, Karen Savage, Suze Orman, Michelle Singletary. Authors ... – PowerPoint PPT presentation

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Title: Recognizing Money Personality in Your Students: CASFAA 08


1
Recognizing Money Personality in Your Students
CASFAA 08
2
  • Define what the rich life means to you and use
    money to build that life
  • -Laura Rowley
  • Self magazine

3
Agenda
  • Spending Habits
  • Money Personalities
  • Needs versus wants
  • Money and emotions
  • Find your money personality
  • Making your personality work for you

4
Spending Habits
  • Established at an early age
  • Often unconscious
  • May be biggest leaks in your budget
  • Easy to justify

5
Money Personalities
  • Many different types
  • How do you feel about money?
  • How do you feel about shopping?
  • Do you love to spend money?
  • People tend to form relationships with money
    opposites
  • Every personality has advantages and disadvantages

6
Needs Versus Wants
  • Can be difficult to tell the difference
  • Needs
  • Food, Shelter, Relationships, Clothing
  • Wants
  • Everything else!
  • Consider carefully before purchasing

7
Money and Emotions
  • Money and emotions are hard to keep apart
  • Watch for emotional spending
  • Know your spending triggers
  • Find alternative ways to release emotions

8
Broke Students Get Emotional
  • It sounds like your relationship and past
    experiences with Hoo Hah are troubling for you.
    Heres what we can do today
  • Active listening
  • Open or closed questions
  • Venting

9
Find Your Money Personality
  • Spending diary
  • 4 weeks is best
  • Note any buyers remorse purchases
  • Analyze spending habits

10
Find Your Money Personality
  • Read each statement
  • Agree
  • Disagree
  • Undecided

11
Find Your Money Personality
  • The Accountant (Orange)
  • Money means security
  • The Social Worker (Red)
  • Money means affection
  • The CEO (Green)
  • Money means success
  • The Retail Therapist (Blue)
  • Money means self-fulfillment

12
Making It Work For You
  • The Accountant
  • Embrace spontaneity, indulge (a little)
  • The Social Worker
  • Even the Dalai Lama gets paid
  • The CEO
  • Reduce materialism before turning to white collar
    crime!
  • The Retail Therapist
  • How do you want to feel about your spending?

13
Resources
  • Columnists
  • Laura Rowley, Karen Savage, Suze Orman, Michelle
    Singletary
  • Authors
  • Stanley/Danko, Ken Kurson, Virginia Morris,
    Olivia Mellon
  • On the Web
  • www.bankrate.com
  • www.money.cnn.com

14
Thank You
  • Questions?
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