What Does Money Mean to You?

Who couldn’t use a little financial awareness during these difficult economic times? April has been designated financial literacy month. The Student Services office will be providing you with some timely information and suggestions regarding finances, budgeting and consumer services. Let’s start by thinking about what money means to you.

· If you agree with statements such as there’s no need to budget-either you have enough or not, or it’s not important to save a lot of money, then it may be that money is not important to you and you don’t worry about it.
· If you agree with statements such as success is a fancy car and a good-looking house, buying brand names is important, or it is important to have nothing but the best, then it may be that money is seen as a status figure. You are not interested in bargains and want only name brands.
· If you agree with statements such as there are a lot of things more important than money, money doesn’t buy happiness, or it’s silly to try to keep up with what other people have, then it may be that how you use money is more important, comparison shopping is important, and you tend to save and invest.
· If you agree with statement such as happiness is buying something new, it’s hard to wait for something you really want, or credit is great, then it may be that you use money for instant gratification, you shop for the latest tech items and feel your purchases are justified.
· Finally, if you agree with statement such as don’t buy until you really need something, paying cash is the best way, or shop around until you find the best price, then it may be you value money for the security it gives you and you are frustrated with careless spenders.

Think about these statements and see where you might fit. What about your spouse or children? How do they feel about these statements? Differences in money values can result in a lot of friction in a relationship. It can be helpful to have an understanding of your own money values and those of your spouse and children. This might be a great discussion topic around the dinner table.