Why I Hate Money

Updated 8 months ago

Spending is one of the biggest problems people have. And whether it’s saving out of fear or spending to fill needs that you haven’t identified, understanding your self and addressing real needs in smarter ways is the point of my first book. And in an insightful book by author and friend Sarah Morehead, these needs unmet or met unwisely with crazy spending are detailed. Why are you spending? – We spend because we are each, individually, motivated by different needs. Morehead uses common sense to help make this point more clear. She points out that siblings raised in the same household, who may hold very similar values about money, will still spend differently because of their unique motivators. If you are motivated by control, you might save every bit of money you have so that you can in some way, prevent bad things from happening to you. She goes on with examples: Is being with friends and relationships so important, you will buy a round of drinks on a credit card so you can show your affection? Is status so important you must live in a certain area or drive a particular car to show you are special? What is a need? – Morehead uses her study of psychology to break this money mystery apart for us. She explains that a car is not a need. TRANSPORTATION is the need. A car is your strategy to fill the need. It may also be a liability from a purely financial perspective as it may be money you now owe to the bank. This doesn’t make it bad. It simply is factually understanding your life and your money and pulling the emotions apart from the money. A yoga or exercise class may fulfill your need to be healthy and to have relationships. Needs cannot be ignored because you will find a way to meet them and may sabotage your budget to do it. She urges then that you really understand your needs and work through- and she helps you to do that in the book- better, cheaper, smarter strategies, to fulfill the needs. A better strategy?- Your need for health may be achieved less expensively by walking, buying used equipment to work out at home, etc. Relationships would then be unmet. What about a volunteer organization, attending church, helping at your kids’ school, working with animals? What about being the house to party and inviting folks over for a potluck game night? The needs are real. You have to address them with logic and reason. You don’t have to spend to meet them, friend. Link to book through Amazon: Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated. (CR 9060)


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