Wednesday, April 27, 2016

Start Treating Money Like Your Favorite Hobby

Welcome to The Finance Gym Action Plan for a Better Life with Money video series. My name is Stacey Powell, and if you’re ready not just know better, but do better with your money, then you’ve come to the right place.

Lately in these videos, we’ve been talking about our relationship with money and so today, we’re going to talk about hobbies. In the book, I asked you, “OK, what if you’re really into fishing? What if you knew nothing about fishing but all of a sudden you got this great passion for it?”

So I scoped around. I have this friend Maya who is a bass fisher, not a fly fisher, bass fisher, and she watches bass fishing TV shows. She gets magazines. She has friends that are her peeps but then she has these bass fishing friends. She goes to tournaments, classes and bass stores.

I make fun of her because I come from a fly fishing family. But the thing is that she’s really good at fishing. And she loves it, and she enjoys it. So one of my points in the book is, “Wow, what if we approach money as if it was a hobby?” because you know how most of us are with money. And we’re like, OK, Saturday morning in between laundry and taking the kids to soccer, maybe I will get around to looking at my bank balances, filling out all my bills as fast as I can and then moving on, right?

We spend as little time as possible dealing with our money. So are we really good with it? Would we ever become great bass fishers or gardeners or cyclists or whatever it is you’re into? Think about your favorite hobby. What are the kinds of things that you would do to become really good at that hobby? What if you did that with money? What if you read a book, watched a video?

So you’re already doing something. You’re watching a video. What if you joined a group? What if you did the kinds of things one needs to do to become good at our hobby? Sit down and write a list of everything you did to become really good at your favorite hobby and then do the same thing around money.

Here’s my list in the book:
  • Who could you talk to?
  • What kind of equipment do you need?
  • Do you have the right equipment?
  • Are you using the right apps, the right software?
  • What friends would be into learning about this with you? So it would be fun.
  • Any TV shows or books? - There's my book. It’s called The Finance Gym Action Plan for a Better Life with Money that you could read.
  • How much free time do you think that it would take to become really good with your money?
These are some ideas about making money one of your hobbies and becoming super good at it.

So as always, you can Subscribe to these videos below. You can join us on Facebook at Team Do Better. Great place to spend some time worrying about money and you can sign up for our newsletter over at So go find yourself a new hobby.

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