Comments on: What are Your Money Tapes?

By: Ken

Ken — Sat, 13 Feb 2010 23:50:19 +0000

My current money tape is “do we really need that?” I guess it’s becuase I just got another cut in pay. I’m still glad to have a job, though.
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By: Wojciech Kulicki

Wojciech Kulicki — Tue, 09 Feb 2010 19:12:06 +0000

Thanks for sharing yours! I agree completely–it’s tough to face difficult choices and tasks. But at least in my own life, I’ve found that the best feeling in the world is after we’ve gotten through these challenges and they’re finally off our “plate.”

By: Wojciech Kulicki

Wojciech Kulicki — Tue, 09 Feb 2010 19:09:56 +0000

Denial can be so destructive to your finances! I’m glad you were able to turn things around.

Interesting comment about your wife “turning the volume up”–it’s amazing how other people that come into our lives can really reveal things that need to come to light.

By: Wojciech Kulicki

Wojciech Kulicki — Tue, 09 Feb 2010 19:06:06 +0000

“…but if you have cognitive distortions going on, they can still seem perfectly valid on paper.

That’s an absolutely fascinating concept, because even with self-awareness, we may not have the necessary tools to “snap out of it.” Thanks for the reading suggestion!

By: ConsciouslyFrugal

ConsciouslyFrugal — Tue, 09 Feb 2010 17:35:23 +0000

I’ve worked with a couple of clients over the years who have had some pretty damaging “money tapes.” Their tapes are a little more severe than what is mentioned in this (awesome) article–”I’ll always be poor” and “I’ll never get out of this hole” are just a couple stellar examples.

I agree that writing down these messages is hugely important, but if you have cognitive distortions going on, they can still seem perfectly valid on paper. An excellent resource to get some sanity back into our thoughts is to use some simple tools of cognitive therapy. I use (for myself and clients!) Dr. David Burns’ book “Feeling Good.” Very simple steps that can help right any unhelpful thought patterns.
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By: Paul @ FiscalGeek

Paul @ FiscalGeek — Tue, 09 Feb 2010 17:04:28 +0000

This was me totally. I’d get sick to my stomach thinking about this stuff so I’d just try and avoid the issue altogether. It wasn’t until my wife turned the volume up that I decided to do something about it. Great advice on kicking it into gear.
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By: 2 Cents

2 Cents — Tue, 09 Feb 2010 14:32:26 +0000

“Do something!” is what I’ve been hearing in my head lately on a couple of financial fronts. I have some cash sitting in a brokerage account that is earning zero. I should be either committing to a GIC or investing it, but I can’t bring myself to do either.

The second front is our income taxes. Our situation happens to be particularly complicated this year, and I haven’t been able to get myself to sit down with Quicken and my calculator. On the plus side, I actually did begin to look at it last night, and I will continue tonight – won’t I?
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