Am I Delusional?
What better way to start off a Monday than with some real talk from Gail.
Money Set Point
Gail introduced the concept of a money set point this week. I had never heard of this before, but it makes sense. Thinking back on the different salaries I’ve had in my life, I can see there were certain points I was looser with my budget than others and I attribute that to the security I felt at that income level.
I’ve always used separate savings accounts for various things. I had never thought through how this could be helping me save more in the long run because it would take me longer to hit a goal–as opposed to seeing it grow as one lump sum.
Kids and Finances
Gail talked about kids and finances in Week 11 where she included in her tweets a 5-point summary of her book Money Smart Kids. You can read those tips in my Week 11 Recap. She kept the conversation going this week.
Managing Your Money
A few final thoughts from Gail.
Have you been actively teaching your kids about finances? What strategies do you use?
New to the Money Master Class? There’s still time to get started!
Check out this tweet to see all of Gail’s #MoneyMasterClass tweets from the start.
Check out my weekly recaps to get caught up.
Start here with the Money Master Class Intro and Week One Recap
Missed last week? Find it here: Week Fifteen Recap
Check out Gail Vaz Oxlade’s books here:*