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Money Management International Improving Lives Through Financial Education
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What is your money personality?

MMI Copywriter

By Kim McGrigg, MMI Community Manager

April is Financial Literacy Month and one of the many ways MMI is recognizing the significance of financial literacy is by offering a series of free financial webinars. Last week's webinar covered setting goals and getting organized.  In case you missed it, here is one of the webinar's activities.


What shape most appeals to you? 

Money_personality 

1.  Square: You are good with detail and tend to be very logical, analytical and task-oriented. You are good with budgets and are able to stick to a structured plan.

2. Circle: You are a lover. You are nurturing, sensitive, talkative, and very social. Plainly put, you are good with people. Because you are giving, you have difficulty saying no, and this is hard on a budget.

3. Rectangle: You are good with detail but are more flexible then a square You are an organized team player and are usually fair. You are best at budgeting because you are flexible and have a desire to involve family members.

4. Squiggle: You are open-minded and creative and have many friends. You have a love of freedom but do not care for detail. Your spontaneity can make you an impulse spender who has difficulty following a budget.

4. Triangle: You are a sharp powerful risk-taker. You make lists and act. You control your money but are willing to take risks with it.

Values are fundamental beliefs about what you regard as important, desirable, and worthwhile. Each of us differs in the way we value employment, family life, spiritual matters, personal health, education, public policy, credit use, and the many other issues that confront us daily. Often, values reflect your family background and change very little over your lifetime.

One way to recognize personal values is to examine the ways you spend, save, and share your time and money. If you are not satisfied with what you are getting out of life, there may be a conflict between your values and how you use your time and money. Values serve as the basis for financial goals. Do you agree with the personality assessment? Do you feel that you are living in a way that is consistent with your values? How can you bring your values and your actions more in line with one another?


Check out all of our free financial webinars.  And if you simply can't wait for the next webinar, you can view a webcast right now!

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Do you have these important financial documents?

 

Spring is in the air and that means it’s time for spring cleaning. In addition to cleaning your house, you should also take this opportunity to get your financial paperwork in order. Keeping sufficient records and updated copies of important paperwork is vital to your financial wellbeing. In the event of an emergency, having important papers organized is just as important as having an emergency savings fund.

The first thing you must do is gather original copies of your important documents. If it is not possible to obtain an original copy of a document, get a certified copy. Keep important financial papers in a safe, yet easily accessible place, or move documents online. To help you determine what to keep and what to toss, the financial experts at Money Management International (MMI) provide the following list.

Retirement planning documents – Documents pertaining to IRA, 401(k), 403(b), or TSA statements should be kept in a secure location, such as a safe deposit box. Keep the annual summaries until you retire or close the account.

Tax planning documents – According to the Internal Revenue Service you should keep your individual tax return documents for seven years. You may also want to save W-2s. Paycheck stubs can be shredded once they are checked against your W-2.

Financial documents – Checking and savings accounts, bank and credit card statements, and bank information are important paperwork to have, but should be kept in a secure location. Bills for big purchases, such as furniture, computers, etc. should be kept in an insurance file for proof of their value in the event of loss or damage. Any unneeded financial statements should be properly disposed to avoid identity fraud.

Asset protection documents - In the event of an emergency, you’ll want to make sure your tangible assets are protected as well as your most valuable asset—yourself. Make sure you have updated, accurate records of medical, home, and life insurance policies and statements. Documents pertaining to buying, selling, or improving your home should be kept as long as you own the home.

Estate planning documents – It’s important that both you and your attorney have copies of any wills and power of attorney documents. These are documents that your attorney should also have on file.

Finally, shuffling through a pile of paperwork is a daunting task. But it is well worth it to make sure documents are properly filed and stored. Getting your financial house in order now will ensure peace of mind down the road. For more information on how to clear out financial clutter visit FinancialLiteracyMonth.com.


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About Money Management International

Money Management International (MMI) is a nonprofit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling and debt management assistance to consumers since 1958. MMI helps consumers trim their expenses, develop a spending plan and repay debts. Counseling is available by appointment in branch offices and 24 hours a day, 7 days a week by telephone and Internet. Services are available in English or Spanish. To learn more, call
866.530.9869 or visit MoneyManagement.org.


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