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Monkswood Associates Newsletter: August 2005
Topic for the month – Money
My opening thought for August:
“It isn’t enough for you to love money – it’s also necessary that money should love you.”
Kin Hubbard
(American Humourist and Writer, 1868 – 1930)
I recently read an article about money and the relationships people have with money. This triggered thoughts.
Firstly, money is one of the fundamentals in people’s lives. Money is an exchange system, give and take, so that it is possible to live a full and happy life.
Secondly, as mentioned in a ‘Resource’ article by Lisa Wynn, there are only three financial behaviours we can have:
- earn more than you spend
- spend what you earn, and
- spend more than you earn!
Finally, as with all behaviours, our money behaviours are a reflection of our beliefs and needs towards money.
How would you describe your money beliefs and needs?
If you don’t know, look at your behaviours. For instance, if you save for the future a certain percentage of your income, what belief/need does this satisfy? Or if you give a certain amount of your income to charities, what belief or need is being met? And so on.
How happy are you with your relationship with money?
You may be very comfortable, which is great. For those of you who would like to consider a different relationship, imagine that Money is a person:
- how would you describe your current relationship?
- Ideally how would you like it to be?
My immediate thought about Money was that it is a necessary evil! Not a great immediate reaction! However, on reflection, I realised that it supports me in my current pleasurable life I lead, the equipment I prefer to have for work and the lack of worry about scarcity of resources. What gifts to receive!
SO I started to re-frame my view of Money from a necessary evil to a supportive ally or friend. I felt much more comfortable with this description.
How would you benefit from re-framing your view of Money?
Remember, any relationship involves contact. It is just about the nature of that contact. Thinking about the following may help you develop your ideas about your relationship with Money:
- What do you want from Money – and vice versa?
- What does Money want for you – and vice versa?
- What advice do you have for each other? For example:
- behaviours that will help best,
- actions that would start everything to flow better?
So what is your relationship with Money looking like now?
This is just the beginning. Here are six more tips …
- Focus on the good in money – appreciate what you have and can do for good with Money
- Spend from the heart, keeping in mind what is received in return – if the give and take is not in balance in your eyes, keep the money for something else
- Whatever you believe Money will bring you (eg peace of mind, enjoyment), start to give and receive it now. There are cost free ways! A smile or a word of appreciation costs nothing. And accept with openness such offerings too
- Make friends with Money and all that entails
- Like people, your money attractiveness reflects your beliefs. Money is more likely to be attracted to those who have healthy beliefs about it – and repelled by despair and fear.
- If you think you want more create motivation by looking at what is important to you. See how more money positively influences it. Money needs to feel important to you before it comes to visit – like friends really!
What other similarities to friends does Money have?
Write to me about your ideas on these similarities - helen@monkswoodassociates.co.uk
“Money never starts an idea. It is always the idea that starts the money.”
Owen Laughlin
Essential books about changing people and organisations
Resource April 2005: ‘Freeing the spirit of money’ by Steve Nobel and ‘What is your financial IQ?’ by Lisa Wynn (www.resourcemagazine.co.uk)
These two articles triggered my thoughts on my relationship with money and the contents of my newsletter.
Topical website
Once more, I didn’t use any websites for this article and so have none to recommend this month!
““No matter how little money and how few possession you own,
having a dog makes you rich.!
Louis Sabin
You are welcome to reprint any part of this newsletter as long as you acknowledge the source, including full authorship, copyright, and subscription information.
Please ask any questions that the topic has raised, or share your thoughts and experiences with me, Helen Wade, at:
Monkswood Associates
Bankview, Shortwood, Nailsworth, Glos GL6 0RZ, UK
Tel: +44 (0)1453.835263 Email: helen@monkswoodassociates.co.uk
Website: www.monkswoodassociates.co.uk