New to Live Richer Challenge: The Fundamentals? Learn more about it HERE.

Week 1: Money Mindset

Today’s Easy Financial Task: Identify your priorities

How to rock this task:

  • Make a mental list of your needs (food shelter clothing, water, etc.)
  • Choose two loves that you can commit to for the next six months
  • Write down your loves and share them with your accountability partners

These are the four questions you should ask yourself before spending any money.

Do I…

1) Need it?

2) Love it?

3) Like it?

4) Want it?

Identify and take care of your needs first, ie: food, shelter, clothing (this doesn’t include trendy must-haves), water, etc. A need is something you have to have in order to maintain life. For example; if you don’t eat or drink water, you will not be able sustain life.

Next, identify, write down, and share no more than two loves. This is very important. We often neglect the things we love, in favor of our likes and wants, because likes and wants tend to cost less and take less patience to acquire.

Having trouble thinking of your loves? Answer this question – If you had Oprah’s bank account, what would you do or what would you do more of? Choose two of these things and those are likely the loves of your life.

If we’re to change our Money Mindset this week, it’s important that we switch to one of a purposeful, passionate financial life.

Needs = purpose

Loves = passion

If you don’t need it, or love it, then you should consider leaving it.

Spending money on likes or wants, means you’ll have less money for purchases that truly improve the quality of your life.

Note: It’s not necessary to cut out all of your likes & wants. It’s just important that you prioritize what’s important. 

I grew up taking tennis lessons and although they weren’t a need, they certainly added value to my life. Now if my parents had to forgo a need to provide the lessons, then that would not have been a good choice. As long as your spending adds real value to your life, you’re saving for retirement and emergencies, paying bills on time, managing debt and you can AFFORD it (different than PAY for it), then go for it.

Share that today you’ll make a different choice….

Today I will put my NEEDS and LOVES before my LIKES and WANTS. Day 5 #LIVERICHERChallenge Click To Tweet

Want to share your loves? Share them in the comments below and…

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Live richer,


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  • Justyna

    My two loves are traveling and saving enough to buy a bigger house.

  • JanFree

    My two loves are travel and running a charitable foundation.

  • Aisha

    My two loves are home decors and shopping for fabrics (I’m a seamstress)

    • porsche h

      only 2 things I love as well. I don’t buy many clothes and shoes…just home décor and fabric lol

  • Erica C.

    My two loves are traveling and learning new things.

  • Hiwy

    My two loves right now are exploring new countries and video blogging (vlogging).

  • Taheerah

    My two Loves are traveling and fun outings with my family

  • Valerie Roper

    My two loves are writing and working with kids!

  • Andrea St.Hilaire

    My two loves are piece of mind via meditation/me time and traveling.

  • Zakia McKnight

    I would love to travel and buy a house.

  • Felicia Harkley

    My 2 loves are outings with family or fiends and traveling and buying a bigger home.. Sorry thats 3!!

  • Mir

    Interesting that so many people are saying travel.

    Travel is also one of my loves. The other is spending time with my family. Third would be my hobby.

  • Natesha Felton

    Ive been thinking about this all day. I knew my first love was traveling immediately, however, I really couldn’t commit to a second. Upon arriving home it hit me: renovating my house! My husband and I bought our first home this past June and have been doing major projects since. I really want to have significant funds to renovate my two bathrooms, kitchen counters/backsplash, and add some modern touches to my living room and dining rooms.

  • LaWanda

    My loves are traveling, midwifery and reading . Lol I couldn’t pick 2!!!

  • Stacey

    My 2 loves are traveling and spending time with my family.

  • Naima

    My first love would be to travel and drink tea! I would sample tea from around the world. Volunteering would be my second love.

  • Janice Newman

    My two loves are home ownership/property and volunteering/mentoring girls.

  • Janice Newman

    My loves are home/property ownership and mentoring girls, especially in the area of social graces.

  • Kecia

    If money were no object, my 1st love would be getting the best fertility doctor on the planet. The second would be an amazing exotic vacation.

  • Jeanne B

    I love to have a great steak with good wine. Second love is nice living area.

  • Tikesha

    Two loves: Shopping and Eating out/take out

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  • Misty Honnold

    My two (well, maybe 3) love are traveling, family and learning new things (so travel w/ family to new places to learn about them)

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  • MsJunePearl

    My two loves (playing catch up) are traveling & my hair! Lol. Protective styling isn’t cheap so I need to budget for it

  • Sade’

    My two loves are traveling and buying myself an expensive gift or treat. I am learning to give up some other “likes” and “wants” to save more for the things that I love!

  • Sherry Rouse

    My 2 loves are travel and charitable giving. I’d love to be able to do much more of both

  • Mia

    My loves are traveling and health/fitness

  • LJLee

    I love teaching my children and traveling.

  • BDS

    Still slowly catching up and I have many loves>> For me, I know because of the lingering effects of those things so I’ll start simple.

    1) Travel is very important to me so initially, I would love to take my family on a much-needed vacation.

    2) Ownership and Real Estate: Buying my first home.

  • Alicia Marie

    this one took me sometime to really find my loves. This a need and a want in one, my education. It will be a big expenditure but in the long run it is something I want/need and will help me grow my wealth.

  • nelly

    Getting my masters and pampering myself

  • Mylife Dbmc

    I’m playing catch up with the challenge. My two loves are my hair and spending time with my fiance. Guess I will be making more of a conscious effort with setting aside funds for date nights and events with the Mr.

  • Sashi

    My two loves are reading and I wish I could travel more.

  • Cynthia Louis

    My two loves are dining out and my hair. Right now I am subscribed to CurlKit that sends me new products every month for $20/month but Im starting to think maybe I dont need all of those products :-/. Ill try to cut down my dining out to maybe twice a month.

  • Christine S

    I am defining my two loves as
    1. Health/Fitness
    2. Spoiling my children (but not to rotten-ness)

  • Loves: Travel and Health/Wellness

  • aprilabtbalance

    My kids and theatre (more specifically, musical theatre).

  • Maria Williams

    My two loves would be traveling and taking my kids out. Right now though, my loves are saving for our move in August and for our vehicle.

  • My loves are traveling and dining out with friends.

  • ChellyCakes

    My loves are traveling and teaching/inspiring/empowering others.

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  • Melvis Gilliam Simpson

    I can only think of one “true” love at the moment…traveling with my family…

  • onbecomingmyself

    I came up with five loves but we were asked to share just two so there they are 1. Travel/Freedom 2. Gardening (Paula)

  • J4M2005

    My loves are my spending on my son (college student), making sure he always has spending money and other stuff 🙂 and our hair (I have sisterlocks and he has brotherlocks and we get retightenings every other month).

  • Asherah Solomon

    My two loves would be Vacation more freely and to be able to purchase several rental properties.

  • Amber Danielle Allen

    I really had to think about this one. And I really only have one love….traveling! I haven’t been able to travel in about 4 years. Now that I’ve met the love of my life, I’d like to travel and build memories with him (without breaking the bank!) I also love eating new foods….but that would be included in travel.

  • Tammi J Campo

    My two loves are traveling and being able to cross things off my bucket list

  • Clar

    My loves are decorating and traveling

  • gfcfmama101

    1. Education for my son (attends private school)
    2. Travel
    These are my top 2.

  • Stephanie Jenkins

    My 2 loves are traveling and reading. I have not been able to travel for the past 6 years (lack of $ to do it). I can indulge all I want on my love for reading. BookBub puts out a list every day of free books. As long as the books are on this list I can purchase all the free book I want to read from my phone/tablet/computer etc on the kindle app.

  • My loves are travel/vacation and planning events

  • Housna

    My education and travelling

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  • Kanika Ameerah

    Language and travel.

  • ElleRussSew

    I LOVE sewing and running: added value is a 2nd flow of income and improved mental and physical health.

  • As I look through the comments everyone is listing travel, and that’s one of my loves too! The second is art, I will be putting my money in my art and purchasing art pieces for the home as well as visiting museums and seeing performances. 😀

  • Nicole A. Tatum

    I’m glad you’ve mentioned what loves were. Travel (I don’t do much of it but enjoy myself when I do- plus my SO enjoys traveling) and to have a home (townhome). living under nosy neighbors can wear on a person.

  • Danielle

    My loves are books and taking trips.

  • Krystal Rosebud

    Hmm… this was a challenge. I love reading and traveling. I often will buy clothes because the ones I don’t have are not trendy but am I really fulfilled when I have new clothes but not meeting my financial goals? At least reading is about my mental health, how I relax and helps my quality of life. Though I do need new clothes I’ve gained some weight and the dryer ruined some of my stuff ):


    Traveling and owning my first home

  • Alecia White

    My two loves would have to be running and traveling.

  • Jamilah Muhammad

    My loves are TRAVEL and EDUCATION.

  • Rena Frazier

    My loves- I would love travel cant get enough since I started in 2013 but haven’t been able to in a while and my 2nd is I would love and I will buy a home.

  • Cheryl Frankie

    My two loves are traveling and eating. Since eating makes me fluffy, I need to find another one, lol

  • Peace Lolu

    My two loves are traveling and education – improving my skill set and earning power. I’ve also added investing to it. It’s so wonderful to see things in this new light.

  • Latoya Walker

    My two loves are getting a massage once a month and having an outing with my boys every two weeks.

  • Nafeesah Smiley Leverett

    This one was very difficult for me, before I start my day 6 I just wanted to reflect. So I had to think about this long and hard, my needs are the necessities but my Love, my passion is my business and family. I want to make a better life for my myself and establish a foundation that I can leave with my family and a family of my own.

  • Stephanie Crews

    My two loves are sewing and traveling!

  • Tee IamMi J

    This one made me think. I really love running my baking business and spending time with my girlfriends. My baking business is my passion, it takes me to a different place. Hanging out with my girlfriend is also my love because, it takes me from being a nurse,a mother, and a girlfriend.

  • Shamiko

    Traveling, especially to see family is one of my loves. I haven’t been home to see my nieces in months!

  • Katrina Merkerson

    My two loves are dinner and movie with my kids and buying fabric!

  • Karen Banks

    My love is traveling

  • Olatanwa Adewale

    My loves travel and helping people

  • Bejjie

    I love traveling, my accessories (my bags and my shoes), getting pampered (nails & hair), running, and coaching

  • Simon

    My loves are to buy a house and save for retirement

  • Monica Cornelius

    Two of my loves are Family and a Home.

  • Antoinette Jenkins

    My loves are traveling and health/fitness(inclusive of spa appointments)

  • Sherreen Snipes

    My love is Traveling, there are so many place I want to see, haven’t been able to do in a while, but I’m getting there, can’t wait for your live chat on Traveling on a budget…

  • Shantell James

    My two loves are my hair and traveling. Ever since a young age I have been passionate about maintaing my hair. I would do it myself or try to find extra money to get it done. I have a new found love for traveling since my divorce. Now I don’t want to stay home!

  • Miriam Nnabuihe

    If I had Oprah’s money, the 2 things that I would love to have more of would be to travel more and have a personal chef (healthy meals cooked daily).

  • LaMonica Green

    My 2 loves: travel and dining out with family and/or friends.

  • Sharnique King

    I was stumped for a minute with this one, but my loves would be shopping and traveling!!!

  • Gabby

    My two loves are traveling and my physical look (hair and makeup)

  • Collene L. A.

    My Loves include : Photography and Travel !

  • Demetrice Kirkwood

    I feel so behind with these challenges, but my two loves are traveling and working with youth in every capacity: naturally and spiritually.

  • Kimberly Parker

    My two loves are traveling and wellness

  • Melanie Kenner

    My two loves are being a blessing to someone in need whether it is family or a complete stranger, and traveling. I love new experiences, especially being able to travel with my children to give them exposure to different cultures. Today, I will put my needs and loves before my likes and wants. If I don’t need it or love it, I won’t buy it!

  • Mayers Felix Jasmine

    My two loves would be to travel I haven’t traveled since i was a kid. And also to lose weight to get healthy and fit. I have put on a lot of weight after my recent pregnancy and would like to spend on the thing I need to get back to normal!

  • Kamilah Addie

    I really had to think on this task I couldn’t even complete it on the day it was given to me but my two loves are music and reading I love to purchase books.

  • Stacy Debose

    My two loves are arts/crafts,.caring and styling my hair!!

  • Kema

    My two loves are traveling and pampering myself. Both of which I don’t get to do as much.

  • Rosalind Lindsey

    My two loves are Travel and Wellness! Want to be debt free and healthy when it’s time to retired!

  • Sherritha Webb

    After thinking about it and me imaging having Oprah’s bank account. My two loves are traveling and charities.

  • Monique Kimple

    How can I get some bracelets? Budgetnista

  • Yuwan Harper

    I didn’t have a hard time coming up with my loves. It’s just that I have 3, hair/nails, traveling and home decorating. These are what i have a passion for.

  • La’Kisha Thomas

    My two loves would be weekend getaways and hosting family and friends

  • Lauren Wilson

    My loves right now would include a trip to Disney for my family in I during the 4th of July holiday 2017. Another love is to save $2500 towards a vow renewal on May 20, 2017

  • Danyalle Jones

    My loves involves entertainment like movies, fine dining experiences… Also traveling!

  • Gloria Pratt

    1) I love being self-employed
    2) I love being able to travel

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  • Sharhonda Joy

    My two loves are being self employed and weekend getaway

  • LaTisha UnSpoken Holloway

    My Love is Getting my Nails Done and Buying my Kids the things they really want..because they are awesome children. I’ve been told that I should concentrate on ME more, But I don’t Know How…

  • Afton H Oneal

    I love traveling. Whether it’s driving, bus, Uber, I’m always down for an adventure. So im putting away money for my adventures. I also love cooking new foods too but I airways have time for that.

  • Sharon Sanders

    My loves are traveling and shopping. I have not been able to do this in the past 5 yrs with a child in college, high school and elementary school expenses. I am looking forward to doing that in a more affordable manner.

  • Lashonda ‘Shonnie’ Northington

    I love traveling and putting my son in different activities to keep him active…

  • April Woodton

    My 2 loves are eating out & traveling.

  • Imani Gregory

    My two loves would be
    1) Trying new restaurants in and around my area to broaden my cooking skills
    2) Traveling to new places

  • Layla

    I love traveling and I love attending live shows

  • Kris Nicole

    Need? Food, Shelter (mortgage payments, lights, utilities), Water
    Love? Travel with Family or alone and faith (giving back)
    Like it? Health and beauty
    Want? Going to dinner/restaurants and entertainment

  • tiffany

    Getting my hair done$80-200
    Buying from dunkin donuts coffee shop

  • Jessica Greene

    My 2 loves are traveling and home improvements

  • Charita Rogers

    my needs are basic sustainability and travel. Yes; travel is a need for me. I need getaways every 2 to 3 months. It is also my love. I wish I had a way to turn this love into a business.

  • Sonia Burnett

    My two loves are traveling and pampering myself

  • Ashley Hill


  • Delanda Jo


    1) going out to eat/ordering out.

    2) shopping (for any and everything).

  • Britnee Bayonne

    My first love is seeing and making my children happy. So much so that i spoil them and put myself on the back burner. I also love helping others here and there even when i dont have extra to give…but thats when the blessings come. I like to pamper myself (hair nails done) thank God for my husband who tells me he likes when i do my own hair not only because it looks good but also because it doesnt cost extra money. I want to be able to travel and upgrade my “career wardrobe”

  • Linda Duncan

    My two loves are sowing into someone else’s dreams (financially) and traveling.

  • Dominique Tha’Mrs Whitaker

    My 2 loves are Vacations and decorating my new home!

  • Celia McKoy

    I love to travel. I also love to tithe regularly and give an offering at church.

  • Renae Myrie

    My two loves are saving and traveling.

  • MaRendia Garner

    My loves are spending time with my son, doing new things, and traveling

  • Asia Martin

    The hypothetical question got me. What would I do more of with Oprah’s income? That’s something I’ve thought about in theory, but realistically I need to make efforts towards it.

  • Rebecca Hanks

    My two loves are spending time with my family and crocheting.