NAME: francheska david

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 . . .things that I mostly need. Sometimes I will give a present to my own self and buy myself a nice shirt and some nice shoes. But over all I always spend my money wisely.

As a money manager, I would describe myself as . . . I would describe myself as a very independent woman. I’ve been working since I was 16 years old and I always have my own money. I dislike asking my parents or anybody for money, I much rather prefer working 30 hours a week and making my own money.

My culture tends to view money as . . .In Puerto Rico money right now is a big issue. But I was raise in an environment that didn’t have anything to do with money. My family used to grow their own fruits and vegetables, and we used to get our own chickens and even fish. Now that I think about it my life style used to very different from the one that I have right now.

In handling money, my family and friends tend to . . .

In my house we split the bills. Therefor we never have a problem with bills and or money.

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:

__If I had that much money right now I would travel around for a little and then save up for the plans that I have which are moving up to Gainesville Florida and going to University of Florida.

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.

_one sacrifice that I would have to make is to leave my little sister behind. I have raise that little girl and is going to be really hard on me if I actually move up north and leave her

Activity Sheet:Your Relationship With Money

behind. But hopefully I will have the opportunity to take her with me once I’m stable and in good conditions.

1. _ I think that by moving out I’m doing a favor to me. I’m teaching myself how to be on my own and how to be independent to the point that I will be able to live by myself and pay my own bills and manage my own money the way I want to.

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?

Personally I think I do a little bit of both. I do like spending money but I always budget myself before making any decisions.

2. How good are you at differentiating between needs and wants and on prioritizing needs?

Usually I write myself a note of needs and wants. And usually when I finish up with my needs I always buy something that I want as a present to myself.

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?

Sometimes when I get my pay check I always think about going to the mall and spending it all in clothe and shoes. But I always limit myself and always think and budget before going out and spend all my money.

When you put these ideas to work, save or invest the money to reach for your goal.

CHAPTER 11: Managing Money