Katherine describes her relationship with money as focused on saving for the future and helping her parents. She values spending money on important situations and helping her family. As a money manager, she sees herself as a planner. Her culture views money as necessary for certain things, but her friends and family don't influence her views and her parents spend money wisely. If she had an extra $10,000, she would give $5,000 to help her parents and use the rest to pay debts and save for emergencies. To achieve this, she plans to find a part-time job and save her earnings without spending.

1. Activity Sheet:
Your Relationship With Money
NAME: Katherine Delgado DATE: 11/16/11
Your Relationship with Money
Getting 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 297 for a description of what influences how people handle money. Make
notes about your personal specifics in the following areas.
I most value spending money on: important situations and to help my parents, for example if
I want to buy me something I try to save as much as possible depriving me from different
things I want to buy. I am under the economic support of my parents, but they deposit $20.00
in my account monthly for my extra expenses. But when I used to work I save all my money in
my debit account and I would gave my mother my card and she would keep it until I wanted to
buy something.
As a money manager, I would describe myself as: a planner for the future, because
nobody knows how life is going to surprise us. I love to help my parents and ask them
questions about credit cards, money management. I think twice before using my debit/credit
card.
My culture tends to view money as necessary only for certain things: Latin spent money
needlessly, for example: I knew some Latinos that instead of buying a new refrigerator they
prefer to buy a brand new car. They are waste money ridiculously, and then they are crying
because they don’t have enough money to feed their kids. But NOT everybody is the same.
Where I came from, the parents take care of their children until they grow up and study for a
good career so they can work and earn money independently.
In handling money, my family and friends tend to: nobody influence nobody, my friends
are reserved with their comment about money. My parents don’t earn as much to have luxury
or new cars but they earn to live good and in peace. My father is an accountant so he always
advises me for my future; my parents and stepdad spend money on my brother and me
wisely.
TAKE IT TO THE NEXT LEVEL. Generate ideas about what you want to do with your money. If you
had enough 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 this year. Describe your plan here
-I will give my mother 2,500 and my father 2,500 because they have helped a lot and I am very
thankful for everything they have done for me. With the other 5,000 I would separate 2,000 for the

2. summer term because FAFSA doesn’t covered my summer term. With the 3,000 I would pay my credit
card and with the rest I would save it for emergency only.
MOVE TOWARD MASTERY. Look for practical ways to move toward the scenario you
imagined. Realistically, how can you make that $10,000 a reality? You may need to
change how you 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 toward your goal.
1. First of all I have to find a job; my parents don’t want me to work because college takes a lot of
effort and time, and they want me to concentrate as much as possible. But I am trying to find part-
time job so I would save money for my extra expenses.
2. Because I don’t have to pay for rent, water, food nor clothing. I would just try to save as much as, I
would deposit my check and I would not use a penny from that account. I think in a year and a half I
would be able to get my goal $10,000, with persistence and commitment.
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 save for the future.
2. How good are you at differentiating between needs and wants and on prioritizing
needs?
- I am good at prioritizing; my father has taught me that if I want to spend on something it
has to be 100% important and necessary. For example: I needed a laptop because I
love to spent time with my parents while working on my assignments, so I thought and
thought about how important was to get a laptop, how was going to help me and how
much money will cost. So I went to many stores and find out about different prices I
choose the most efficient one but with the ability to pay. I used my extra FAFSA money
and I did choose a good decision, I pay half with credit and half with the FAFSA money
so I can accumulate more point for my credit card.
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?
-I am a little rare, because I don’t like to go shopping neither to go to fancy
restaurant so I don’t have a weak spot. But if I have it I would clear my head after
buying something that in the moment it’s not necessary. I have always thought that
we don’t know what the future prepare for us and we instead of living and spending
we should save for the worst moments.