Many of us have heard about the five love languages but have you heard of the “four financial languages?” Tarra Jackson, also known as “Madam Money” returns to the Get Up Church to explain her four financial languages and how they can help you in your journey to financial freedom.
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Well, what’s saving, the “savers pleasure principle” is seeing their bank account grow. They need safety, security and control. And right now as everything increases in price, it’s important for them to shop around find the best deal that fits their budget, they like that b-word that budget because they can control where their money is going. And with the Fed raising the rate, banks eventually are eventually going to increase the rates for depositors. So savers is a good time for savers to deposit more because that the rates go up. So do deposit rates.
Well, the spending that is a dominant language, I am a spender. That’s my dominant financial language. And the pleasure principle of upset spenders is the transaction and retail therapy are very real for us, I need you to understand. However, however, right now, as everything is increasing in cost and credit is costing more spenders, we have to focus on how much we can afford, what is it going to cost us so it doesn’t affect our spending power. So a lot of people are focused on the right rate, it really doesn’t matter what the rate is, what matters right now is how much we can afford spinning and what you know, acting our wage, so that we don’t overspend, and spend at the wrong time with its with its economy.
Well, the investor side, the principal, of course, is the return on investment, right? So they’re looking to return on investment, whether it’s money, time, or people. And right now with this economy, the market is so unpredictable, and volatile. But instead of looking for immediate gratification, and ROI gratification, we’ve got to think long-term as investors. So that’s the long-term ROI relationship and consider the market being on sale. Everything in the market is going down. But that’s like those pair of shoes or that suit, or that electronics going from 200 down to 50. What are you going to do, you may want to buy more because it’s going to go up in value. That’s where that buy low sell high comes into play. So this may be a good time to start buying more as investors so that you get a long-term ROI. But please consult with a trusted investment advisor before making any drastic moves.
Well, giving a person that is a giver, whether they give their money or time people their thought processes, how can I help? They’re pure philanthropists and give her the pleasure principle is helping others if that’s where they really, really get excited. But in this economic environment, it’s important for them to realize that before they give everything away to their family and friends, they have to put the financial oxygen mask on first, meaning they need to know when to save, spend and invest for themselves. So they can protect their financial stability so they can continue to give to others. It’s a beautiful thing to be a giver. But make sure you take care of yourself so that you can give to others. That’s not just with money. But right now in this economy, it is it
Tarra Jackson: Relationships With Money and the 4 Financial Languages was originally published on getuperica.com