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Financial Values, Attitudes & Goals. Presented by: Jana Darrington Utah County FCS Agent. Created by: Jana Darrington, Utah County FCS Agent, Feb 2009. Getting to know you…. Name Where you are from My first memory of money is…. The one thing money can’t buy is….

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financial values attitudes goals

Financial Values, Attitudes & Goals

Presented by: Jana Darrington

Utah County FCS Agent

Created by: Jana Darrington, Utah County FCS Agent,

Feb 2009

getting to know you
Getting to know you…


Where you are from

My first memory of money is….

The one thing money can’t buy is…

how are values attitudes and goals related
How are Values, Attitudes and Goals related?

What happens to the Little Engine?

What can we learn from this story?


“We sow our thoughts, and we reap our actions;

we sow our actions, and we reap our habits;

we sow our habits, and we reap our characters;

we sow our characters, and we reap our destiny”

Charles A. Hall

(The Home Book of Quotations, sel. Burton Stevenson [1934], 845)

understanding values
Understanding Values
  • Values
    • Relatively permanent personal beliefs about what is important
    • Reflects upbringing
    • Changes very little over lifetime
  • Why is it important that we recognize our values? How do our values affect others?
what are your values














What are your values?
financial values inventory

Handout #1

Financial Values Inventory

Click on the link to bring up PDF version

  • Instructions
    • Look at each pair and choose you FIRST choice in answering the question: “If you had an extra $100, what would you spend it on?”
    • You can only make ONE choice
  • Total up the numbers at bottom
  • Share results?
money attitudes

Click on the link to bring up PDF version

Money Attitudes

Handout #2

  • Attitudes are a measure of state of mind, opinions, and judgment about the world.
    • Reflect a position
    • More flexible than values
  • Example: A family may place a high value on Education.
    • The father may have a more positive attitude toward Utah State University and the mother may have a more positive attitude toward Brigham Young University.
  • How much does money control your life?
where did your money attitudes come from
Where did your Money Attitudes come from?
  • Childhood experiences with money:
    • Shape our attitudes toward money
    • Habits we develop
    • Decisions we make
    • Willingness to risk in money matters
    • Leads to future (money saved or money spent?)
personal reflection
Personal Reflection

Who managed the money when you were growing up?

How openly did you talk about money?

How did your family feel about debt?

What did you learn about saving or spending money?

What did you spend your money on growing up?

What kinds of money messages did you hear as a child?

Handout #3

Click on the link to bring up PDF version

other money messages
Other Money Messages?

Show me the money.

Money is the root of all evil.

It doesn’t hurt a thing to want!

explicit rules
Explicit Rules

Usually verbalized or written rules:

  • “Don’t spend all your money on candy!”
  • “Never buy on credit!”
  • “Never lend money to a friend!”
  • “Pay your debts on time!”
  • “Count your change before you leave the counter!”
  • “Never talk to others about your personal finances!”
implicit rules
Implicit Rules

These are taught through non-verbal communication:

  • Father earns it, manages it, others are on a strict allowance.
  • Spouses earn and manage their own income separately.
  • Don’t ask how much Dad makes.
  • Mom manages the money because she’s better at it.
family rules
Family Rules
  • Do any of these statements sound familiar?
    • “Dad paid cash for everything.”
    • “We never talked about money.”
    • “Mom never paid more than $20 for a pair of shoes.”
    • “Mom paid the bills and kept the books.”
    • “Dad turned his paycheck over to her.”
    • “We never went on expensive vacations.”
    • “Mom never bought anything for herself – kids came first.”
some new rules for you
Some new rules for YOU
  • Know what your spouses’ family financial rules are.
  • Recognize that each partner brings his/her own set of goals, standards, values and rules regarding money to the relationship.
  • Realize that financial management procedures can be modified.
  • Decide as a family what dysfunctional financial patterns can be altered.
what type of money spender are you
What Type of Money Spender are you?


  • Spend only for what I need
  • Save for emergencies
  • Like to have $$ in my pocket
  • Shop around for the best deal


  • Nothing but the best for me
  • Expensive clothes are important
  • You’ve got to spend $$ to get ahead in life
  • Cheap stuff isn’t worth much
money spender types cont
Money Spender Types (cont)


  • Nobody ever has enough $$
  • Credit is necessary
  • Buy the things you want, NOW
  • I deserve the best things in life


  • Money can’t buy happiness
  • You can have fun without spending $$
  • Other things are more important than $$
  • Children should learn not to put a $$ value on everything
money spender types
Money Spender Types


  • Don’t worry – the $$ will come from somewhere
  • Worrying about $$ never helps
  • Keeping track of spending can drive people crazy
  • A person can get along without saving
communication money

Handout #4

Communication & Money

Plan a regular time to discuss finances with family members

Be honest!

Respect differences!

Set goals together (individual & family)

Involve children

Consult family when making large purchases

Don’t blame others – look for ways to solve problems together.

financial principles bernard e poduska
Financial PrinciplesBernard E. Poduska

Financial problems are usually behavior problems, not money problems.

Nothing is worth risking the relationship.

We know the price of everything and the value of nothing.

The best things in life are free.

The value of individuals should never be equated with their net worth.

start a money discussion
Start a Money Discussion

Answer Personal Reflection questions for yourself. Ask a family member to also complete (Handout #3)

Make a “date” to discuss answers with spouse or family member

Allows you to get an idea of own & family member’s values related to money

goals reflect our values
Goals Reflect our Values
  • Have you ever felt that you aren’t getting what you really want out of life?
  • Harvard Study: Three groups of Graduates
    • Those who wrote down their goals were the most successful at reaching them.
    • Those who “mentally” wrote them down were moderately successful.
    • Those who did neither were least successful
  • The key to getting what you want out of life is to understand yourself and carefully set some goals.
from dreams to reality
From Dreams to Reality
  • We all have dreams, but many wonder how they can realize their dreams
  • What do you dream of having, doing, or accomplishing?
making your dreams reality
Making your Dreams Reality

More about Goals Later!

  • Write down your “dreams” on 3x5 cards (one on each card). Don’t leave anything out! Now they aren’t just dreams – they are goals!
    • Make them specific – When do you want to accomplish it? How much is needed?
    • Sort cards into two stacks
      • To accomplish in next 5 years
      • Goals that will take longer than 5 years
    • On back of each, write down what is needed to make it reality & if you’ve already got some saved for goal
    • How much more do you need to reach goal? Figure out by the months to achieve.
    • Prioritize goals and focus on top 2 or 3.
be emotionally and physically in charge of your money
Be emotionally and physically in charge of your money

First- Decide what is most important to you, what you value.

Second- Learn about your emotional attitudes toward money.

Third- Begin to make changes in your behavior to reflect how you want to manage your money.


Pankow, D., (2003). Financial values, attitudes and goals. North Dakota State University Extension. Publication FS-591.

Albertson, M. (2004). What is your relationship with money? Utah State University Extension. Powerpoint Presentation.

Jewkes, M. (2008). Teaching children money management – Money Messages. Utah State University Extension.