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Elizabeth V.

@elizabethvv67

Emotion and money

The most important emotions about money to become aware of are fear, guilt, and shame. Without awareness, these emotions will interfere with your rational thinking.

  • Common fears include fear of having too little money, fear of looking foolish, fear of causing envy.
  • Guilt is about feeling bad about a negative impact you've had on others. You may feel guilty because you have more than your friends, or are not charitable.
  • Shame is feeling troubled when you don't live up to your own values. Shame related to money involves feelings of not having enough money, avoiding thinking about finances, avoiding doing what you're supposed to do with your finances, feeling ignorant, and overspending.

Other emotions that influence your handling of money include envy, greed, and over-excitement.

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IDEA EXTRACTED FROM:

The Psychology of Money: What You Need To Know To Have A (Relatively) Fearless Financial Life

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