Money Talks

WORD OF THE WEEK:

Savings Club

Definition:
A type of savings account used for a particular purpose. The most common type is a “Christmas club” account, in which funds are accumulated throughout the year and made available some time before Christmas. Contributions to a savings club may be made automatically by withdrawals from other accounts.

Read more: http://www.investorwords.com/18511/savings_club.html#ixzz1QczQ1NXo

Movies and Money

So this weekend, while flipping channels, I stumbled upon a great flick, ‘Confessions of a Shopaholic’ starring Isla Fisher and Hugh Dancy. I had seen it before and quickly remembered how much I liked it the first time. There are many reasons. Of course, each time you revisit something meaningful to you, the likelihood is great that you will gleen something new from it.

This turned out to be true for me with this cute and sentimental chick flick. I related very well to Rebecca, whose own financial situation seemed grim yet she found herself taking a job writing about finances. She seemed to be completely out of her element. I can relate.

Now that I have started to write for the Southern Indiana Asset Building Coalition, to be honest, I have felt like a fish out of water. Budget? Savings? Balance? No way! Not me. You might be horrified to see my checkbook or all the receipts sticking out of my purse.

But this movie reminded me of something really important. There are reasons we spend the way we do and there are actions we can take to do something about it. The fictional character of Rebecca Bloomwood had a deep affinity for spending. She got her self-esteem from pretty, new things. In the end, she realizes that she doesn’t need new things to feel like a capable, bright person. She just IS one!  She was smart about money and she didn’t even know it! She comes to terms with her spending habits and makes specific, strategic moves to a different financial path. She goes from freezing her credit cards to getting help from a Shopaholics Anonymous group!

This movie is chock full of gut-wrenching moments I have lived through, like persistent debt collectors and spending money I do not have to the moment when there is no where else to run. I may not be able to relate to investment portfolios or hedge funds, but trying to balances my wants and needs, that I can understand. This movie inspired me to take a look at other films that might help open a dialogue for the SIABC BLOG readers…that is my favorite thing about movies when they entertain AND compell me to dig deeper! So from time to time I will post about them.

So grab some popcorn and check out the movie trailer here: Confessions of a Shopaholic and stay tuned for more Movies and Money

6 Month Money Challenge

In honor of National Financial Literacy Month, SIABC has launched an online 6 month money challenge  designed to help you examine your beliefs, feelings and attitudes about money as well as evaluate your relationship with the beloved dollar!

Join us on Facebook and you’ll find weekly CHALLENGES focused on a particular financial theme!  You’ll have access to the tools, information and resources you’ll need to help you change your behavior and create habits that support your financial goals. 

We kicked off the challenge in April on Facebook with a focus on spending but it’s not too late! Jump on in and let SIABC help you reach the finish line of a great financial future!

 Monthly Challenge Topics:

1.  SPENDING

 2.  BUDGETING

 3.  Debt

 4.  Credit

 5.  SAVINGS

 6.  Organization

Click here to Join us on Facebook!