GREENSBORO, N.C. -- how much is your time worth? It's a common question. In fact, you may have heard yourself say – “It's not worth my time.”

However, usually we say that about a situation, not an item we're about to buy. Certified Financial Planner Matt Logan said we need to train ourselves to think time and money.
“We're somewhat removed because we swipe a card. Train yourself to say, ‘Oh yeah, how many hours did I work to buy said item that i don't need?’ Is that really worth it?’” Logan said.
Most of us know our yearly salary, but rarely do we say, ‘This tv will cost me 20 hours of work.’

Logan said to change our money behaviors, we need to know what triggers our spending or savings habits.

He there are four kinds of money people.

  • The daredevil: finds excitement in taking risks.
  • The ostrich: tends not to deal with anything finance related and pushes it all to the side.
  • The waster: spend it now because you can't take it with you
  • The squirrel: extremely frugal and takes no risks.

“The easiest to work with is the squirrel. “They're already saving. You just need to get them to invest in a little of the stuff that's for later down the road,” Logan said. “The most fun people to hang out with are the wasters. They have a good time and they throw around money, but you don't want to be around them in retirement because they'll need to borrow stuff.”

How do you change the bad money habits? Retrain your brain.

Logan said know what your triggers are. Before you click purchase online, think about it. Let it sit there for an hour. “You might find you do buy half of the stuff.