If Money Talked
Session Two: Masters or Master’s?
Your bank account and paycheck have your name on them. Of course your money is yours. Right?
After you watch the video, take some time to answer the Questions for Reflection below and to complete the exercises in the Money Exercise.
1. Can you think about a time that you’ve seen someone experience consequences because of their spending (or saving)?
2. Mark the option below that describes you as it relates to knowing where your money is going right now.
- I avoid thinking about it.
- I’m mostly unaware of where it’s going.
- I know in general where it’s going.
- I know exactly where it’s going.
3. Write down four things from the list below that are most valuable to you in your current season of life.
- Gym membership
- Travel
- Eating out/coffee out
- Date nights
- Housecleaning/lawn service
- Vacation home/second home
- Technology
- Pet(s)
- Hobbies
- Gifts
- Home improvements (renovations, new décor)
- Self-care (hair and nail care, massages, anti-aging treatments)
- Luxury vehicle (car, motorcycle, boat, RV)
- Experiences (concerts, season tickets, theater)
- Extras for your kids (travel sports, new clothes, technology)
- Convenience services (meal/grocery delivery, laundry service)
- Paying off debt (mortgage, car loan, credit cards)
This week, track your money to find out where you typically send it and spent it. Select the method you’ll use to spy on your money.
- Go digital.
Use a digital money management tool to track all of your transactions. If you don’t already use one, review this list of apps and software tools. - Keep a paper trail.
Save the receipt for every purchase you make. Store the receipts in an envelope or folder. Then, at the end of the week, record them on the Tracking Your Spending worksheets. - Write it down right away.
Carry a notebook (or keep a note on your phone) and record every expense right away. - Spend the same way.
Use only one credit card or debit card all week. Then use the card’s transaction history as the record of your expense.
To explore further, sign up to get a free one-hour session with a financial mentor.
