Activity sheet relationship with money


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Activity sheet relationship with money

  1. 1. Activity Sheet: Your Relationship With MoneyNAME: ANDRES GARCIAYour Relationship with MoneyGetting a handle on money anxiety starts with an honest examination of how you relate to it.BUILD BASIC SKILLS. Analyze yourself as a money manager. Look back to Key 11.1 on page 297for a description of what influences how people handle money. Make notes about your personalspecifics in the following areas.I most value spending money on: Things that are really important. The way I manage is creatingpriorities and keeping them in order. So when its time to invest or spend I do it wisely.As a money manager, I would describe myself as: Organized and responsible.My culture tends to view money as: The factor to survive, since sometimes there is no much ofincome, do it to the economic situation, and at the same time enjoying it the best way you can withyour family.In handling money, my family and friends tend to: Well, my family isn’t that type of people that liketo throw the house through the window, I mean that are not compulsives buyers. I believe they arevery smart and know how to handle their business with out losing a cent. In the other side, my friendsare not much like that. Some of them struggle with this topic and some of them already haveconquered.TAKE IT TO THE NEXT LEVEL. Generate ideas about what you want to do with your money. If you hadenough money for your expenses and then some, what would you do with the extra? Would you save it,spend it, or do a little of both? Imagine what you would do if you had an extra $10,000 to spend thisyear. Describe your plan here:First I will see if I have any debt or something that I need to buy. Then I will think about savingwhatever it’s left. Or better yet investing it in an international finance program that I am knowledgeof, which will provide you a house paying you half of the same price. This is financial aid that thegovernment is available to help you with.MOVE TOWARD MASTERY. Look for practical ways to move toward the scenario youimagined. Realistically, how can you make that $10,000 a reality? You may need to change howyou operate as a money manager. You may need to make some sacrifices in the short term.Come up with two specific plans here about changes and sacrifices that will move you towardyour goal.
  2. 2. 1. Look for an economic place to live where I will save some money to accomplish the goal. 2. Doing a part time job other then the one I already have, will promote me at a higher speed to my final point. Part II Answer the Following Questions: 1. Nearly 3 out of 4 people in the U.S. cite money as the top stressor in their lives. Do you spend now or save for the future? - I try to save the best way I can, obviously when there are times that the bills come higher then you expected little by little sometimes you end up taking from that saving account. 2. How good are you at differentiating between needs and wants and on prioritizing needs? - I believe I’m good at it. I don’t like spending money with any justified reason. I first go with prioritizing the needs, and then if it’s possible get what I want without affecting any saving. 3. Everyone has a weak spot; some people like new clothes, others like fancy restaurants. What can you do to make financial sacrifices seem worth your feelings of deprivation? - Personally, I have understood something very clear that first comes first. I’m not that type of person that goes crazy when right away I have the money on my hands, even thought before I get pay from my job; I already had made a plan. So there is not loose money, like getting new clothes, fancy restaurants or getting a new car. Even though that it’s not bad but I rather prefer to be on time with everything than being worry about to pay bills.When you put these ideas to work, save or invest the money to reach for your goal.
  3. 3. CHAPTER 11: Managing Money