What is Your Money Type?
Money is not just about numbers, but also about emotions and psychology. Our relationship with money is shaped by our money mindset. We can improve our Money EQ by changing our money mindset.
I read a very good book: Money EQ from Ken Honda. Indeed, we all have a perspective and approach to money, and this forms our financial mindset. Our financial mindset and approach to money affects our lives either positively or negatively or neutrally. That's why I wanted to summarize and share with you in this post as I thought it would be useful while we are giving financial freedom mindset to our kids.
Let’s start!
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Money EQ by Ken Honda
Money EQ is a book by Ken Honda that teaches readers how to improve their relationship with money. The book argues that money is not just about numbers, but also about emotions and psychology. Honda believes that by understanding our own money mindset, we can learn to use money in a way that is healthy and fulfilling.
The book is divided into three parts:
Part 1: The Basics of Money EQ
Part 2: The 7 Types of Money
Part 3: The Money EQ Journey
In Part 1, Honda introduces the concept of Money EQ and explains how it can help us improve our relationship with money. He also discusses the different types of money mindsets, such as the "Scarcity Mindset" and the "Abundance Mindset."
In Part 2, Honda introduces the 7 Types of Money. These are:
Peaceful Money
Healthy Money
Happy Money
Creative Money
Energetic Money
Abundant Money
Free Money
Honda argues that each of us has a unique combination of these 7 Types of Money, and that by understanding our own Money Type, we can learn to use money in a way that is aligned with our values and goals.
In Part 3, Honda provides a step-by-step guide to improving our Money EQ. He offers practical exercises and tips that can help us to change our money mindset and create a more positive relationship with money.
Money Type and Habits
Control
A person with a Control type of money, spends, saves and growth with investments.
Oh yes I love this one!
Fear
A person with money type of Fear, fears from money, fears to lose, doesn’t save and doesn’t invest.
Ahh come on! Why?
Indifferent
Indifferent money type person doesn’t worry about money, focus on doing good things and have difficulty on budgeting.
Hey you! Take control my friend. You deserve it.
Key Takeaways
Money is not just about numbers, but also about emotions and psychology.
Our relationship with money is shaped by our money mindset.
There are types of money, and each of us has a unique combination of these types.
By understanding our own Money Type, we can learn to use money in a way that is aligned with our values and goals.
We can improve our Money EQ by changing our money mindset and taking practical steps to manage our finances.
Overall, Money EQ and Financial Freedom to Kids weekly bulletin are valuable resources for anyone who wants to improve their relationship with money.
What is your money type and habits category? Share in the comments.