paper writing

TARGETED GOALS Money helps you feel confident and competent to achieve your goals.

How others may see you:

!Responsible and Accomplished or !Driven and Too Conservative Advantages of Targeted Goal habitudes are:

!Make intentional financial decisions based on values and desired long-term outcomes.

!Have money reserved to pay for the unexpected.

!Set and accomplish realistic goals.

!Buy items you really want that will retain value.

!Have a sense of well-being and control.

Disadvantages may be:

!Feel pressured by others to spend money on things that do not fit your budget or values.

!Expected to help others who did not plan.

!Have difficulty responding to new opportunities because they are not part of your plan.

!Be intolerant or impatient when others do not meet your standards or have different values.

!Hide or withhold information from significant others to stay in control of the money.

SECURITY Money helps you feel safe, secure, and in control.

How others may see you:

!Thrifty and Organized or !Miserly and Cheap Advantages of Security habitudes are:

!Have a budget, financial goals and savings.

!Shop wisely for value items on sale.

!Protect money by being conservative.

!Have lifestyle choices now and in the future.

!Take care of possessions so they last.

!Have accessible money in case of emergencies.

Disadvantages may be:

!Save so much there is no money for today’s wants and needs.

!Buy based on price when it isn’t what is actually wanted or won’t hold up over time.

!By being so conservative, money is safe but doesn’t grow.

!Do not enjoy activities or items because of cost.

!Your strict budget means you are unable to take advantage of unexpected sales and opportunities.

FREE SPIRIT Money isn’t a priority.

You just let life happen.

How others may see you:

!Easygoing and Carefree or !Immature and Irresponsible Advantages of Free Spirit habitudes:

!Have faith that others will provide.

!Can react spontaneously to new opportunities !Not distracted by money considerations or details.

!Share generously with others.

!Do not feel pressured by other’s expectations !Adapt easily to new situations.

Disadvantages may be:

!Lack the skills and information to make wise choices.

!Unable to support yourself if the person(s) providing for you cannot continue or chooses to stop.

!Feel trapped or obligated by being supported.

!Miss opportunities by avoiding commitments.

!Do not have necessary items because of sharing so freely with others.

STATUS Money helps you present a positive image.

How others may see you:

!Generous and Impressive or !Superficial and Insensitive Advantages of Status habitudes are:

!Present a strong first impression.

!Make generous donations.

!Give expensive or unexpected gifts.

!Get pleasure from giving to others.

!Never burden others about money problems.

!Enjoy sharing and including others.

Disadvantages may be:

!Create a false impression of having wealth.

!Feel constant stress to keep up with others.

!Do not have reserves for the unexpected.

!Get into debt to maintain appearances.

!Let others take advantage of your generous spirit.

!Always give but have trouble receiving graciously.

!Keep money secrets because of the fear of losing friends or status if others really knew your real financial situation. TARGETED GOALS If you identify with challenges related to the Targeted Goals habitude consider starting with one of these suggestions to create more balance.

!Learn effective communication skills that you can use when pressured by others to spend money in a way that conflicts with your values or goals.

!Understand the money messages from your past.

!Challenge yourself to find out if your goals reflect your wants and needs or if they are a response to others’ expectations of what you “should” do.

!Be supportive and giving to others.

!Take a break from being productive and goal oriented to relax, be spontaneous and enjoy life.

!Challenge yourself to experience new activities that are out of your comfort zone.

Take some risks.

!Be tolerant and patient with people who have lifestyles and values that are different from yours. Try to see their perspective and understand what works for them.

SECURITY If your identify with challenges related to the Security habitude consider starting with one of these suggestions to create more balance.

!Reassess your budget to include fun, gifts and spontaneous opportunity.

!Reduce the time you spend to record, check and manage your finances.

!Plan to spend money on a special gift or activity for yourself every month.

!Face your fear. Put everything you would need to survive in a bag or suitcase and keep it in a closet so you are prepared for the worst.

!When you are about to say “not” out of habit to something you would like to buy, make a fist, open it one finger at a time to remind yourself to allow money to flow out and flow in without being blocked. Then decide how you feel about buying it.

!Interview financial professionals to find someone you trust to help you have a broader perspective on saving and investing which can lead to a more realistic, livable financial plan.

FREE SPIRIT If you identify with challenges related to the Free Spirit habitude consider starting with one of these suggestions to create more balance.

!Know the realistic expenses to support yourself even if you do not pay them (health and car insurance, rent, utilities, clothes, etc.) !Become familiar with the basics. Learn how to balance a checkbook and make a basic budget for your wants and needs. If you live with someone go over a month’s expenses to become familiar with basic costs.

!If you have investments or inherited money make an appointment with a financial professional to find out how much money you have and how it is being managed.

!Determine if you are being fairly compensated for your work.

!If you avoid managing money because of a lack of skills consider taking a class.

!If you have a fear of commitment or taking on responsibility you may find it helpful to work with a counselor.

STATUS If you identify with challenges related to the Status habitude, consider starting with one of these suggestions to create more balance.

!Shop for quality not name brands. Limit trendy items to 10% of your purchases.

!Make a gift list and assign a price limit for each person. Look for sales and do not buy extras.

!If you have debt, talk to a professional to learn how to pay it off as quickly as possible.

!Shop from a catalog to avoid impulsive spending caused by store displays, sales and persuasive salespeople.

!Shop when you are feeling good, not when you feel stressed, vulnerable or pressured.

!Allow others to give to you and treat you.

Learn to say “thank you” and to receive graciously.

!Set up a budget. Use direct deposits to insure there is money to pay bills and savings for the future. Set up automatic online payment for bills if possible.

!Support yourself with affirmation that you are a lovable, valuable person. What do these cards mean?

The cards you choose indicate which habitudes may affect your behaviors and decisions related to saving, spending, earning, giving, debt, and investing. The six types are:

Types What Habitudes Reflect Security Money helps you feel safe and secure.

Spontaneous Money encourages you to enjoy the moment.

Status Money helps you create a positive image.

Selfless Money helps you feel good by giving to others.

Free Spirit Money is not a priority at this point in your life.

Targeted Goals Money helps you achieve your goals.

There is no perfect combination of habitudes.

However, too much of any habitude will probably mean there are challenges; missing any habitude completely may indicate a need for more balance.If you have more cards of one type read the yellow interpretation card associated with that habitude.

Which statements fit you? Consider whether others may think your beliefs and behaviors are relatively extreme and may be creating challenges for you. If you do have a challenge related to that habitude look at the suggested strategies on the other side of the yellow card and choose one or two to work on for more balance.

If you have not chosen any cards for one type, it may indicate an area you are avoiding or overlooking. For example, if you don’t have any Status cards, you might not consider how your financial decisions will affect others. No Selfless cards? You may be missing out on the personal satisfaction people feel when they help others. No Targeted Goals? Are you relying too heavily on chance or other people and not taking responsibility to provide for yourself? No Security cards? You may be avoiding preparing for the future. No Spontaneous or Free Spirit cards? It might be time to lighten up a little, take some risks and enjoy your money.SPONTANEOUS Money encourages you to enjoy the moment.

How others may see you:

!Spontaneous and Fun-loving or !Impulsive and Unconcerned with consequences Advantages of Spontaneous habitudes are:

!Enjoy an exciting and fun life.

!Able to quickly respond to opportunities.

!Get a lot of attention and recognition.

!Have many friends and acquaintances to join you when you want to go places or do things.

!Get things right away without waiting.

!Experience the thrill of taking risks.

Disadvantages may be:

!Spend money even when you don’t have it.

!Go into debt to buy things you don’t need.

!Do not have any reserves for the unexpected.

!Usually owe money to friends or family.

!Feel powerless to control your spending.

!Keep money secrets from significant people in your life because you are ashamed of your spending or debt.

SELFLESS Money helps you feel good by giving to others.

How others may see you:

!Sacrificing and Charitable or !Judgmental and a Martyr Advantages of Selfless habitudes are:

!Have strong values and convictions.

!Generously support other people or causes.

!Live simply to reflect non-materialistic values.

!Act ethically and with integrity.

!Depended upon by others.

!Clearly differentiate between needs and wants.

Disadvantages may be:

!Feel guilty or angry if money is spent on personal pleasure and not to help others.

!Unrealistically expect to be taken care of because you give generously.

!Use giving as a form of control to impose personal values on others.

!Intolerant of people who have different lifestyles where they spend their money more freely or do not give generously.

!Resent when giving is expected and assumed. What does a combination of types mean?

Most people are a combination of types. Since different situations call for different responses, having a combination makes you more adaptable.

For example, a Free Spirit uninterested in money may be Targeted Goals when administering a niece’s trust fund and Spontaneous when buying a car.

Combinations of types can also create challenges.

You may act inconsistently or flip-flop between two habitudes. For instance, a person who compulsively saves money (Security) may uncharacteristically go into debt to have an impressive wedding (Status).

Look for patterns to discover the people or situations that trigger a different habitude to come into play. For example:

1. If you are usually decisive, but become indecisive when talking to someone in authority.

2. If you handle money one way when life is going okay and act differently when feeling stressed or vulnerable.

3. If you usually stick to your budget but can never say “no” to certain people or to a car salesman.How would conflicting combinations develop?

!If your parents (or other significant adults) had conflicting habitudes you might subconsciously go from one habitude type to another to be fair and loyal to each of those significant adults.

!If your original values have been challenged by unexpected life events, dramatic lifestyle changes or exposure to other ways of thinking, you may see value and drawbacks to both and react inconsistently.

!If someone significant in your life has different money values than you and you want to please him/her or are afraid of that person’s response, it can influence your behavior.

!If a significant person in your life is very extreme in his/her habitude type, you may adopt a habitude to create less stress and more balance.

!If you have lived through good times and bad, you may have learned conflicting habitudes and can see value in both sides.

This could cause inconsistent or conflicting behaviors.SPONTANEOUS If you identify with challenges related to the Spontaneous habitude, consider starting with one of these suggestions to create more balance.

!Use direct deposits and pre-set automatic payments. Save a set amount weekly, even just $1/week adds up.

!Make a list of alternative activities to shopping. Plan to do them with other people.

!Get rid of store credit cards and keep one major card for emergencies. Leave it home.

Pay with cash.

!Stay out of stores and away from TV shopping networks. Start with a monthly “no shopping week.” !Write down everything you spend for a month. Rank each item 1-10 for enjoyment and value.

!Before each purchase ask yourself: Is this a need or want? How long will I have to work to pay for it? Is it worth an hour’s pay? Is it worth a week’s pay?

!Talk to a financial professional to set up a plan to get your debts paid off.

!Consider a support group or counseling if you routinely feel guilty, ashamed, or embarrassed about your spending or debt.

SELFLESS If you identify with challenges related to the Selfless habitude consider starting with one of these suggestions to create more balance.

!Plan activities for personal enjoyment that are unrelated to your favorite charities.

!Review your career. Have you limited your options to avoid more lucrative positions?

Know the value of your position and work to receive a fair salary.

!Know how much you can give and identify how you like to give – big amounts at once, small amounts to multiple people/charities.

Stick to a plan.

!Have a plan for giving that included giving to yourself and providing for your future.

!Understand that having money is not inherently bad or sinful and being poor is not inherently honorable and virtuous.

!Before giving monetary help to others, consider if you may be hindering their development of responsible behavior.

!Identify your needs, wants, and ideas.

Become aware of your tendency to agree to someone else’s plans to save, spend, invest, or be charitable before you have thought about what you would like to do.