Money Matters

#MoneyMasterClass — Week 3 Recap

Failure

This week started with two reminders: the first, our failures have purpose; the second, our choices have a cost.

Choices

Getting down to the task

There were a lot of tweets this week with instructions and stories from participants. To keep up with them all, a Twitter Moment with all of the tweets from Gail for this week. See the link here.

The first task this week was to list all of the money we owe in notebook #2.

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Throughout the tweets this week, there were instructions on how to calculate debt and debt repayment. We were also given access to a number of resources including a debt repayment worksheet.

Find the list of resources here: https://www.moneyproblems.ca/money-master-class/

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All the feelings

After taking a realistic look at our debt, Gail asked us to examine how the information made us feel. I’m currently in the debt free category, but having no debt only came after a number of really bad life choices and a lot of hard work. Instead of a page titled “I owe,” I titled my page “I own.”

Looking at the list of savings and assets that I have, I fell into the trap of comparison. While I’m so grateful to be debt free, I realize my life choices prevented me from preparing well for my future. I am so far behind where I want to be at this stage and this age of my life. I can look to many others my age–even those younger than me–who are in a far more stable position financially. It makes it daunting to look at future goals such as saving for retirement or possibly buying a home. These things seems far off and  unattainable. What the stories and feelings of other people that shared this week reminded me, was that knowledge is power and once we know better, we can do better. 

It has been encouraging to hear from others and to see how openly people are walking through this process. How was this week for you? How did you feel after looking at your I owe/I own page?



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:
Money Master Class Intro
Week One Recap
Week Two Recap
Check out this tweet for all of Week 3’s tweets.

What are your thoughts? Let us know in the comments!

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