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Show notes
Martha leads Alex through a two part exercise and you can join along.
Question 1.
Beyond our basic needs what do we want money for?
Each thing we want money for meets an emotional need. What is the connected emotional need? For example, a holiday may meet the need for excitement and exploration of new places or for comfort and escape from stress. A meal out may meet the need for time with friends or family or for the aesthetic experience of tasting something delicious.
Understanding what emotional need you are meeting with your purchases helps you to make better judgements about those purchases. By looking at how you spend your time, you may be able to get the need met without spending money or in a more cost effective way. You can also prioritise which needs you want to meet first and that will help you choose your purchases more wisely.
Question 2.
Who influences your thinking about money?
Where did you learn about money?
What influences affect you now?
Are these influences you want? Do they have your best interests at heart?
What can you do to boost the positive influences and reduce the negative ones?
Final tip
Picking a savings goal linked to the emotional need you value most will give it power and help you to achieve it.