Women of Action

Earlier this month, I had the honor of talking to the Women of Action Committee at the Rockland Trust Company, a full-service community bank serving southeastern Massachusetts. The title of the talk was Women and Money: Taking Steps toward Financial Freedom. The group of 20 women and one chick in training (aka guy) was great to work with. Each participant came away with new insights about how her (or his) thoughts and beliefs impact spending, saving and investing. As always, I had fun presenting, but I was very pleased that the committee found the event enjoyable and informative as well.

One of the activities at the workshop is called "Thought Toss" and it was a crowd pleaser. Here is how it is done: Write down two thoughts or beliefs you have about money on two index cards. One of the thoughts should be one that supports your quest for financial security and freedom and the other should be a thought that might sabotage your monetary stability. For instance, a thoughts such as “I must pay my mortgage before I use my credit card.” is a thought that supports good financial health. Whereas, the belief that “Credit cards are like free money and I only have to pay a minimum balance each month.” is a statement that can definitely get in the way of financial security. Now take the thought you want to toss (the sabotaging thought), read it aloud and toss it into the trash can. When done in a group like the Women of Action Committee, the group celebrates every time one of the sabotaging thoughts is thrown away.

I have used this activity many times and while it seems simple, it can be liberating and members of the audience seem to find the image of tossing the card helpful in establishing a new money habit.

What money thoughts or scripts would you like to toss? Let us know as each time someone does this activity the rest of us learn something too. Thanks again to the Rockland Trust Group and here’s to thought tossing every once in a while!