On New Latina, we recently had the opportunity to talk with a personal money coach, Meadow Devor. She shared her expertise with us and imparted some smart money tips and thought-provoking wisdoms about spending. Here are five great articles that will help you to build a successful relationship with your money and offer you some peace of mind.
5 Must-Read Articles for Smart Money Management
Excerpt: Money is a neutral thing. It can be proven to exist or not exist. It’s a fact. It’s a number. It can be a number on paper. It can be a number on your computer screen. It can be a number on a receipt. It can be a number on a dollar bill in your wallet. This money, this number, doesn’t hold any power on its own. It has no emotional charge. It can’t create pain and it can’t create pleasure. It’s just a number.
Excerpt: What if we loved money – in the same way that we love our kids? What if we loved our money by spending time with it (saving it), taking care of it (investing wisely) and protecting it (not buying shit that we don’t want and we don’t need). What if we respected our relationship with money – just like we respect our relationship with people that we care about? What if we treated it like something that meant a lot to us?
Excerpt: Fannie Mae made me a deal to rent their money. I rented their money and lived in a house. I used to call that owning a house but the truth is: I never owned it. I rented the money so that I could live there. Fannie Mae owned the house and they owned the money that I used to stay there. Credit card companies prey off of our weakness when it comes to instant gratification. They offer us nothing except an offer to pay for renting. They profit enormously from the dependancy that they create.
Excerpt: As I drive back to my poor house, I can’t stop thinking about this. My daughter thinks we are poor. That is just mind blowing to me. It got me thinking about what poor really means. And more importantly, it got me thinking about a really big lesson that I want her to learn. One that I didn’t learn until I was 35. We need to talk to our daughters and to our sons about money. We need to talk to them about what money means, to us. We need to teach them what wealth means. What cash means. What debt means.
Excerpt: The tool I use for this is the Four Types of Spending. It’s a tool to help you determine why you spend what you spend. It helps takes the mystery out of your current finances. It helps you figure out why you ended up here in the first place. Determining the Type of Spend strengthens your relationship with yourself and with your money. It’s a tool that gives you an access point for cleaning up stressful and painful thoughts… even ones you never knew you had. It helps build self-awareness as well as financial awareness.