Award-winning money personality tool and conversation starter features improved readability for low-literacy audiences.
November 29, 2012 (Wilmington, NC) – LifeWise Strategies has just released a new version of its flagship Money Habitudes product, marking its first major revision since its initial launch in 2003, despite ongoing progressive improvements. The game-like tool helps people easily understand their money personality and talk about money in a fun, constructive, nonjudgmental way.
While the previous versions of the Money Habitudes cards aimed for simplicity and ease of reading. The most significant change in this new version is its greatly enhanced readability. Now the 54 short statements are all written at or below a fifth-grade reading level (using the well known Flesch-Kincaid Grade Level formula).
“One of the strengths of the Money Habitudes cards is that they seem so simple but have so much depth. A great deal of research went into creating a tool that is actually quite complex, versatile and has so many dimensions–but can also feel fun and accessible to almost anyone,” said Syble Solomon, the president of LifeWise Strategies and the creator of Money Habitudes.
In response to research conducted at Utah State University on the validity of the statements, the team made a number of subtle yet important technical changes. Although the original cards scored well, the revised statements make it a stronger instrument which is also easier to answer and sort. The original format of the Money Habitudes cards was retained in response to reports from the field which consistently affirm its effectiveness. Identifying both the advantages and the challenges of each pattern of financial habits and attitudes–often called money personalities–results in individuals gaining insights about their strengths as well as areas where they could improve without feeling judged.
Additionally, the new version features updated graphics and standardizes the names of the six Money Habitudes (money personality types). The adult Money Habitudes now have the same names with the other versions for young adults and teens: Planning, Carefree, Security, Giving, Status, and Spontaneous.
Overall, the new version makes for a faster, clearer activity. It also makes the cards easier to use with low-literacy audiences while not diminishing high-literacy users’ experiences. write it in a active voice.
About LifeWise Strategies and Money Habitudes
Founded by Syble Solomon, LifeWise Strategies produces Money Habitudes in versions for adults, young adults, teens and Spanish-speakers. In 2011, The Washington Post’s financial columnist Michelle Singletary chose Money Habitudes as the personal finance selection of the month. LifeWise Strategies, along with The Dibble Institute, received a 2012 Excellence in Financial Literacy Education (EIFLE) Award for their teen curriculum, “Money Habitudes: How To Be Rich in Life & Love.” Solomon, named Educator of the Year by the Association for Financial Counseling and Planning Education, regularly speaks on the psychology of money. She is also the author of “Inspired Savings,” a motivational money management calendar-book, and co-author of “Bringing Money Into the Conversation: A Quick-Start for Therapists.” LifeWise Strategies publishes guides and financial materials complementing Money Habitudes cards.
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