What’s Your MQ — Money Quotient?

posted by Judith Stephens 26th, 2008

You’ve heard of IQ, your intellectual quotient. It purportedly measures your intellectual intelligence.

Emotional quotient, EQ, measures your emotional intelligence.

According to Emotional Intelligence author Daniel Goleman, emotional intelligence includes self-awareness and impulse control, persistence, zeal and self-motivation, empathy and social deftness.

MQ, your money quotient, measures your money intelligence. If such a measure exists, it would suggest how much you know about money. How well-versed are you about money? How much do you know about this *medium of exchange* that impacts, and in many cases defines, the quality of your life?

Money is the last not-to-be-discussed topic in the United States. While we talk about sex, politics and race in public, money has been excluded from the discussion. It has been effectively shrouded in terminology designed to intimidate, confuse, and stop our questioning.

Well, I’ve got a new mindset and a new attitude. I’m going to get over all the intimidation factors, and ask as many money questions as I like. And I will get answers.

What about you? Are you ready to learn more about money? I’d love it if you would join me.

Warmly,

Judith

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Comments to “What’s Your MQ — Money Quotient?”

kreschke Says:
August 26th, 2008 at 9:02 am

I love this idea about MQ and totally believe that our mindset is what sets our economic level.

Terresa Says:
August 28th, 2008 at 7:04 am

I do like the idea of exploring attitudes about money. I don’t think we are really taught that we control our financial destinies. We get hooked into the credit trap and soon find ourselves with no way out.

Have you considered doing a blog or three on how to avoid the credit trap?

Terresas last blog post..Another Great Reason to have a Roadmap

The Story Ideas Virtuoso Says:
August 28th, 2008 at 9:43 am

Judith,

Since our mindset governs everything we do and think, our money mindset has to be crucial. Get us all whipped into shape, Judith!

Deb Gallardo

Judith Says:
August 31st, 2008 at 4:18 pm

Hi Terresa,

Thanks for the suggestion. I’ve outlined several credit-related posts including using credit strategically, avoiding excess, and paying off credit card debt.

You might want to subscribe to the RSS feed to make sure you see them.

Cheers,
Judith

Charly Leetham Says:
September 6th, 2008 at 5:26 am

Hi Judith - Talking about Money or Money Issues appears to be taboo in most Western cultures. I’ve learnt that you need to be open, to a greater degree than we are now, about the financial issues and successes that we experience. That way a number of issues would be avoided.

Well done for bringing it to the forefront for discussion.

Charly.

Rachelle Says:
September 16th, 2008 at 8:01 am

Talking about money has been the “dinner table discussion” for lower and middle class families. Usually revolving around how much money isn’t there compared to what is needed.
People with money don’t talk about it in the US. Thank you for your willingness to “break the silence of the successful”. Sharing you knowledge can only help those who want to control their financial destiny.

Bill from Financial Help Says:
November 13th, 2008 at 6:19 am

This is a very good conversation that needs to be explored. Being well educated about money and what to do with is very important if you want to be successful in life.

adopt a family christmas Says:
December 15th, 2008 at 3:02 pm

I see your point.

Chicago Says:
March 19th, 2009 at 4:04 pm

This is a interesting way to judge how good someone is with money and their general knowledge of the subject. I wonder how accurate it has proven to be though.

Fitness in sports Says:
May 7th, 2009 at 9:04 am

You are correct Kreschke, it starts in your mind. Like Donald Trump says, to become a billionaire, you first have to think like one. Cheers.

no transfer balance Says:
May 10th, 2009 at 5:31 pm

Judith you nailed it right on the head. How much education do children have about finance in elementary school? Id say close to none at all. Imagine if we built a foundation at an early age on money like we do "spelling" for instance.

Wire Send Money Says:
June 4th, 2009 at 12:25 pm

I cannot quite agree here. Our world is pretty commercialized even now - everybody talking and thinking how to make more money. And I think that downgrades the people and their relationships. The balance is shifting towards society based on capital instead of traditional family virtues…

Ricky from st louis mma Says:
June 7th, 2009 at 7:23 am

MQ = Money Quotient… I haven't heard of this thing until I reach your website. By the way, nice comments from this thread. I agree with Bill "being well educated about money and what to do with is very important if you want to be successful in life."