Your Motivation for Savings

April 7, 2009

When I was in college, I often got quite a few confused looks about my double major – economics and psychology.  While that combination isn’t too common, I always felt they were related.  I think it’s important to understand your underlying motivation for whatever financial goals and habits you have, before you make any changes.

First, if you haven’t already, I suggest that you and your spouse complete the printables – it’s a great way to start thinking about your motivations, and discuss them.  One of the most important questions on the printables is #8 – what is the value of money to you? – because the value of money really can help you understand what you are saving for.

There’s no wrong answer to the value of money – if it’s status, that’s absolutely fine.  If you are trying to make more money because you want to buy things – there’s nothing wrong with that.  As long as your motivation, your goals, and your habits are all in alignment, and your spouse agrees with you.  The key is that alignment.

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