MMS001: The Importance Of Figuring Out Your Money Philosophy

MMS001: The Importance Of Figuring Out Your Money Philosophy

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In this episode the panelists introduce themselves for the first time, and then have a discussion about financial philosophies, why it’s important to come up with a money philosophy of your own, and how your personal philosophy can help to guide your decisions about money.  Read a full article discussing the topic here.

Key Takeaways From This Episode

Some important points made in this episode:

  • Having a philosophy about money is important to helping you live the lifestyle that you want.
  • It’s important to know where your money is coming and going.
  • Know what your values are, and what your immediate, short term and long term goals are.
  • Figure out how you can use your money to reach your goals, while living within your money values.
  • Know that your goals may change over time. Don’t forget to revisit them from time to time.


Money Mastermind Show

For  a quick bio of each of our show participants, head on over to our panelists page.

Items Mentioned In This Show

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2 Responses to MMS001: The Importance Of Figuring Out Your Money Philosophy

  1. My personal finance philosophy is based on the Bible. Jesus said, “It is more blessed to give than to receive.” I believe I am called to a lifestyle of giving generously to others- with my time, talents, and money. Therefore, I try to save, be frugal, and live simply so that I may live debt free and so I can ultimately give more to others. Money has never made a man happy, as was stated above. True joy comes from blessing others.

    • Fred, we’ve got a similar philosophy, as I think you can probably tell from my site’s name and the niche in personal finance that I write in.

      I think even those who aren’t Christians would do well by following the common sense wisdom found in the Bible. Things like how you should seek to be content in any situation, how hard work will help you to prosper, and how we shouldn’t trust too much in riches and their power to improve our lives.

      Psalm 62:10 ..if riches increase, do not set your heart on them.

      Proverbs 12:11 Those who work their land will have abundant food, but those who chase fantasies have no sense.

      Thanks for stopping by and commenting!

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