Learn more about psychology with this collection
How to develop a healthy relationship with money
How to create a budget
The impact of emotions on financial decisions
How to harness money emotions
- Emotion isn’t all bad. It tells you what you’re passionate about, and what really matters to you. It makes you feel alive.
- Anxiety isn’t all bad either. Mild to moderate levels of anxiety are motivating. Harness them to tackle what you need to face and know that you will feel better when you’ve done so.
The key is self-awareness. Much of our emotional world is unconscious. But it’s not that hard to access if you know what to look for and have a blueprint for the kinds of emotions and family stories that can influence your personal relationship with money.
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MORE IDEAS ON THIS
Psychology of money: 3 key things
Here are three key things to know about the psychology behind our personal relationships with money:
- Emotion plays a huge role.
- Anxiety and avoidance create a vicious cycle.
- Psychologically, you can’t entirely escape your family and your past....
133
2.3K reads
Psychology of money: Emotion and money
The most important emotions in relation to money are fear, guilt, shame, and envy.
- Common fears include the fear of not having enough, the fear of looking stupid, the fear of provoking envy, and the fear of being exposed or humiliated.
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Every family has its own particular psychology of money
What can be talked about, who should be in control, what money responsibilities are assigned to what gender, how important money is or is not.
Additionally, there are always stories about money that are part of a family’s identity.
Maybe a serial entrepreneur grandfather...
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1.54K reads
Examples of shameful feelings related to money
- I don’t have enough money.
- I’ve avoided thinking about finances.
- I’ve avoided doing what I’m supposed to do about finances (creating a safety net, planning for retirement, sensible budgeting).
- I’m really ignorant about all of this.
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1.84K reads
Mental health and mental illness
- Excessive use of alcohol or other substances leads to poor judgment, inattentiveness to finances, employment jeopardy, and secretiveness.
- Depression can cause careers to stall or even job disability. Depressed people are often unable to face financial responsibilities because of a la...
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1.61K reads
Our relationship with money
It’s worth thinking about money as something with which you have a complex relationship. Your money is not a fixed entity, but rather a complex of data points, challenges, and opportunities you circle around, interact with, and have feelings about.
You make decisions about money that ...
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2.38K reads
CURATED FROM
The Psychology of Money: What You Need To Know To Have A (Relatively) Fearless Financial Life
forbes.com
7 ideas
·13K reads
CURATED BY
The psychology of money: understanding that no one is entirely rational when it comes to money.
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Harnessing money emotions
Emotions can be useful. They tell you what matters to you.
Mild anxiety is motivating for example. Harness your emotions to attend to what you need to face.
Practices to tend to your emotions
- Catch yourself worrying.
- Turn your attention to your body and notice sensations you can identify (muscles are tense, heart beating nausea).
- Don’t get involved with your worrisome thoughts.
- Try to label or name your emotion, whether it’s ...
How to talk to strangers
- If you're together in the same place, you have something in common. If we can be aware that others also feel uncomfortable, we can think about what we can do to make them feel comfortable with us.
- Ask people how they know the host or how they got ...
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