Why Are We So Emotional about Money? - Deepstash

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Why Are We So Emotional about Money?

hbr.org

The psychology behind our relationship with money

Anything important in our lives is emotional. Our relationships are emotional. So our money is emotional.

The problem is when we think money is all about math. We think questions like, "Should I buy a house?, or "Should I negotiate a higher salary?" is purely mathematical.

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It is normal to feel negative about money. For example, you may be paying off a college loan and feel anxious and guilty when thinking about your debt.

You may fixate on all the feelings around the terms of a loan, the interest on the loan, how much money you have to make a payment, the...

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Your feelings do not correspond with your debt. You may think you will be happy if you pay off your debt, but you will always have something else to worry about. This just means that your emotions don't give an accurate picture of your financial situation.

You may b...

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  • The easiest way to reframe your mindset is to switch how you think about it. Instead of thinking about what your loan couldn't do for you, consider how you benefited from it. Maybe you met good friends, or you had valuable experiences.
  • Investigate your ideas, thoughts, and feelings a...

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  • Know that emotions about money are okay. Use your feelings to understand your values, your needs, your wants.
  • Educate yourself about money. Know what compound interest, investments, etc. mean.
  • Money can inspire and motivate you.

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