Your EQ And The Relationship With Money
  • EQ means emotional intelligence, our ability to understand emotions and handle them without letting them overpower us.
  • EQ is a powerful social skill that helps us recognize, understand and distinguish the feelings of ourselves and the people around us.
  • Money EQ is how we feel about money, and is key to a healthy, prosperous relationship with wealth, no matter how much we have or earn.

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Understanding Your Current Relationship With Money - Mindvalley Blog

blog.mindvalley.com

  • We need to treat money as our best friend, but we often end up making it our master, or become its slave, allowing it to control us.
  • Our relationship with money has its roots in our past and the various experiences that shape our lives. 
  • Recalling past events or tragedies involving loss of money trigger our negative emotions like anger, sadness, helplessness or inferiority.

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If we feel shame concerning money, we may splurge more to cover it. If we feel unworthy of all the money we get, we might feel shy to get what we deserve.

If we are passive about money, we won’t care about it and might even avoid it. Due to past traumatic experiences, we can perceive money as dangerous.

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  • Indifferent: These types live life as if they are beyond money, and are usually from wealthy families, or are monks who don’t really need money for their minimalistic existence.
  • Hippie: These stay away from consumerism/capitalism and feel a strong sense of hatred towards money. They believe money is the root of all evil and corrupts everyone.

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  • Spenders: They enjoy spending money, and are people who didn’t enjoy wealth in their growing up years.
  • Savers: They save every dollar and try to spend the least.
  • Moneymakers: They are the workaholics who try to control money by being a spender or saver as and when needed. They are addicted to money and associate it with everything.

There are other personality types too, like gamblers, repressed spenders and worriers.

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