The Psychology of Money
Money is a powerful player in one’s psychological health.
· How fully and honestly do you speak with your spouse or partner about money, finances, spending, goals, savings, and debt?
· Are you unable to fully enjoy what you purchase because you feel bad, guilty, ashamed, or embarrassed about your purchase?
Money is just money. But it’s the summation of bad information and the influence of your history, culture and society that impact your perception of it. Your grandmother, for example, may have told you that money is the most important thing in life. Your father might have taught you that the only way to be happy in life is to be rich. The reality TV shows you watch portray wealth as glamorous and fun. And society teaches us that rich people get respect. It’s difficult to wade your way through your issues with money, but like anything else it’s imperative that you take your finances in your own hands. By taking the necessary steps to seek therapy, financial counseling or help from family members, your self-esteem, self-confidence and self-efficacy will grow.
It’s an empowering feeling to realize that you, not your money can control your life. Once you’re aware of the impact your emotions play in your finances, you’ll stop depending on external situations to make you happy. This will inevitably free up your time to focus on other areas of your life and will make you more invested in your health, emotionally and financially.