How your Learning Style is the key to money management success

To create something beautiful and motivating from something she was ashamed of, Amy Jones drew an elaborate pattern of spirals, and each time she paid off $100, she’d color in one of the spirals. Photo credit: Emilie Burke / Burke Does

People often ask me, “What’s the best method for managing money?” My answer: the one you’ll stick with.

 There’s no magic app or system that works for everyone. That’s because managing money requires us to understand and process information about our financial lives, and different people process information in different ways. This is the key concept behind the study of Learning Styles.

 If you’ve struggled to connect with a particular method to manage and track your finances, chances are you’re not working with the unique way that you perceive, process, and retain information.

The different styles are:

• Visual

• Logical

• Auditory

• Kinesthetic

• Verbal

 If you’re a visual learner, you process through images, pictures, and spacial understanding. Logical learners connect through reasoning, and auditory learners, who are often highly musical, process what they hear. Verbal learners use words, both in speech and writing, and kinesthetic learners do best when they can move, using their hands and sense of touch.

 If you aren’t already familiar with what works best for you, there are a number of online quizzes you can try. Or just think of another area of your life that you have an easy time organizing and understanding, and identify which style you use there.

I love this piece from Jackie Lam for GOOD Money on how for many, a picture is worth a thousand spreadsheets:

“Art therapy is a tried-and-true way to treat the symptoms of PTSD—and now the “debt-challenged” are also turning to the practice. Drawing taps into people’s senses (the visual, tactile, and kinesthetic), helping them work through the painful memories, frustrations and fears. Focusing on visuals rather than on numbers has also been known to motivate individuals—in this case, prompting them to pay their debt off faster. ”

For more on how to put pen to paper and reach your financial goals, read the full article here.