Comments on: Your Financial Hierarchy of Needs

By: Shareholders vs. Stakeholders: Skipping Steps Is Costly | Balance Junkie

Shareholders vs. Stakeholders: Skipping Steps Is Costly | Balance Junkie — Wed, 05 May 2010 13:36:24 +0000

[...] steps is a proven recipe for catastrophe. (The same applies to personal finance. As discussed in Your Financial Hierarchy of Needs, it makes no sense to put a lot of money or effort into investments if you aren’t earning a [...]

By: RRSP vs. Paying Down Debt | Balance Junkie

RRSP vs. Paying Down Debt | Balance Junkie — Tue, 02 Mar 2010 15:12:49 +0000

[...] can be very empowering to focus on one priority at a time. When I wrote about Your Financial Hierarchy of Needs, the point was to cover the basics first. Spend less than you earn. Develop a budget. Save for an [...]

By: Broke by Choice

Broke by Choice — Wed, 20 Jan 2010 09:54:33 +0000

I really like what you have done here by taking something most people are aware of (Maslow’s Needs) and tying it to something that we are so passionate about (PF). It definately gives me something to think about on my PF journey.

Thanks

By: How to Make a Budget: Your One-Stop Shop | Balance Junkie

How to Make a Budget: Your One-Stop Shop | Balance Junkie — Tue, 19 Jan 2010 11:13:31 +0000

[...] to 1 Million Dollars, he says that “everyone needs a budget”. As we pointed out in Your Financial Hierarchy of Needs, it’s important to master the basics before you move on to higher goals. Mr. Pape offers a [...]

By: Carnival of Personal Finance #240 | Growing Money

Carnival of Personal Finance #240 | Growing Money — Tue, 19 Jan 2010 07:47:49 +0000

[...] Ways to get Fit this Winter Gen Y Wealth: The 7 Deadly Sins of Personal Finance Balance Junkie: Your Financial Hierarchy of Needs Pop Economics: Why crazy people rule the market, and how you can profit from it Bible Money [...]

By: Carnival of Personal Finance #240 : Carnival of Personal Finance

Carnival of Personal Finance #240 : Carnival of Personal Finance — Mon, 18 Jan 2010 18:12:01 +0000

By: 2 Cents

2 Cents — Mon, 18 Jan 2010 14:52:47 +0000

Thanks Wojo. That was exactly the point of the article. You hit the nail on the head!

By: 2 Cents

2 Cents — Mon, 18 Jan 2010 14:51:10 +0000

I didn’t actually mean to draw a direct parallel to Maslow’s Hierarchy, but just to emphasize the need to focus on one step at a time and to outline what those steps might be. You’re right though. If I were to draw direct comparisons to Maslow, the belonging level is the weakest link.

I guess if you really wanted to stretch, you could say that paying down debt can make you feel like a good citizen. But it really wasn’t my intention to propose that. Thanks for your comment!

By: Anastasia

Anastasia — Mon, 18 Jan 2010 14:26:28 +0000

I am not quite sure why paying off mortgage is satisfying my “Belonging” need? Belonging was all about social contact and being part of a larger group, friendship, love, family, etc. … Shouldn’t it be rather Charitable donations, ethical investing, “green” spending?

By: Wojciech Kulicki

Wojciech Kulicki — Mon, 18 Jan 2010 14:16:51 +0000

This in an awesome perspective I had never considered–too many times, we try to fulfill needs above what we should really be focused on. In other words, learning to crawl before you walk before you run.

What a great reminder!
.-= Wojciech Kulicki´s last blog ..5 Good Reasons Not To Save Money =-.