The Financial Life Cycle and Your Money Personality
with John Dulmage
Sunday, September 11 from 1 - 3pm
What is YOUR money personality?
In
each stage of our life from early childhood to the sunset years, there are
different principles that govern financial fitness. Each stage brings new issues
to face and new skills to learn. From birth to about five years of age children
often, test the world by trying to taste it. The first critical lesson we must
teach our children about money is “Don’t eat the money”.
In
middle childhood, ages six to twelve, children start to learn about the relative
value of money. For example, they learn dimes are worth more than nickels even
though they are smaller. Quarters buy more than a dime. Children at this age
learn that you can convert money into things you need, or want and how to save
for various purposes.
Not
having benchmarks or standards to help you compare your progress contributes to
financial dysfunction. Most people simply do not know where they are
financially. They can only compare themselves to how they perceive others are
doing based on purely external factors- the size of their house, the number and
makes of cars, the frequency and destinations of vacations, but these external
factors reflect values and priorities not necessarily financial well-being.
Part
one of this discussion will help you complete a self-assessment by recognizing
where you stand in the Eight Stages of the Financial Life Cycle.
Part
two will be a presentation of the Money Personality Matrix which can help you
define your money personality. Different people have different financial
tendencies. Before you can take steps to become financially fit you need to
understand what your personal propensities happen to be. Each personality type
has different advantages and disadvantages. Are you a Shopaholic, or a Scrooge?
Perhaps you are a Nestor or an Entrepreneur. This part two presentation will
help you to know your Money Personality and what strengths and challenges that
personality brings you.
At the end of this discussion, there will be a drawing for a copy of the book Facing Financial Dysfunction Why Smart People Do Stupid Things with Money! by Bert Whitehead, Forward by Andrew Weil, MD.
Investment: $25