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Award-winning international speaker, best-selling author, and financial expert, Tarra Jackson joined the Get Up! church to talk finances for Monday Monday. Jackson, also known as “Madam Money,” spoke to Charles Jenkins and GRIFF about our relationship with money and why it is important to know the “four financial languages.”
Listen to the conversation below:
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Tarra Jackson: In my book, The 4 Financial Languages: The Secrets to Communicating About Money, I talk about why it’s so important to understand your dominant financial language because that is how we communicate about money. If you and I are together and you speak Greek and I speak Spanish, we might be saying the same thing. But because we don’t understand each other’s language. That’s where the money misunderstandings, the dollar disagreements come in because we’re speaking different financial languages.
Charles Jenkins: So Tarra, let’s break them down. So the first one is “saving,” talk to us about saving money.
Jackson: Awesome. So people with the financial language of saving, need safety, security, and control. Right? They love the word budget. That is because they’re planners. And they also that’s how they control their money. Savers are also risk-averse. They hate losing money. That’s why savers and investors argue about money. But when their savings go below a certain threshold, that’s when they start freaking out. So they need that safety, and security control. The benefit of being a saver or having the financial language of savings, that is where your stability comes in. So I love my savers.
Jenkins: Got it. Alright. Number two, the second financial language is “spending” talk to us.
Jackson: People with the financial language of spending, which is myself, my dominant language is spending, we chase the pleasure, right? There’s something about that transaction that secretes that serotonin. That’s why retail therapy is very, very real. We hate to hear the word budget and we hear budget, we hear diet died deprivation, I can’t we don’t have that net time for that negativity in our lives. But we spend money, that spending is bad. It’s just that when we know how to do it the right, that helps us with our pleasure principle. So I love the fact that I’m a spender because it helps me to enjoy life. If I do it the right way.
Jenkins: That’s good. The next one is investing. What do we need to know about investing?
Jackson: Oh, fabulous. People are investors, people who speak the financial language of investing, they seek that return on investment, that ROI. And whether it involves money or either time, effort or people, they’re always looking for the return a bigger return on what they invest. They’re active learners. That’s why I love investors so much. They are actively seeking knowledge about money. And unlike savers, investors are willing to take on risk so they can get bigger returns for their money. So what I love about investors, they help us get our money to grow faster.
Jenkins: Love that. Tell us about the fourth financial language “giving.”
Jackson: Givers are near and dear to my heart. They are peculiar people. The reason why is because they’re usually fiscally bilingual, meaning they speak multiple financial languages. But they have the heart to give that Phillip Phillips’s tropical heart they have the heart to give. So if they’re a giver, and they can give money they use, you’re also a saver. If they’re a giver that loves to give gifts, they’re probably also a spender. And if they’re a giver that loves to invest in businesses, like an angel investor, they’re probably an investor as well. But the only thing about givers is givers always want to give to other people. First, they need to realize that they have to give to themselves first, so they can give more to other people later.
Learn more by clicking here at MadamMoney.com
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