One of the things that we as humans all have in common is the fact that WE all have a relationship with money. The unfortunate fact is that some of us have a healthy and positive relationship with money, while others do not. Oftentimes this relationship can be a very emotional one regardless of one’s income.
I have found that most people that have an unhealthy relationship with money have unconsciously inherited this trait from their parents and/or environment. The subject of finances tends to be a taboo subject for most households. In fact, most people are never properly taught how to manage or even relate to money. This is a rather sad fact considering all of us have to deal with money on a day to day basis.
So what are some of the problems that people have as a result of not understanding how to have a healthier relationship with money? Well for starters, take a look at the following list and identify if you have one or more of these issues or know someone that does:
- Underspending (also known as depression mentality)
- Serial Borrowing
- Financial Infidelity (“cheating” on a spouse by spending money and lying about it)
- Financial Incest (lording money over relatives to control them)
- Financial Enabling (throwing large sums at friends or relatives who are not motivated to support themselves)
- Guilt and/or Shame around poverty or wealth
- Money Anxiety
So is money good or evil?? I say that money can be good if one learns to understand and relate to it in a positive fashion. Having a healthy relationship with money can lead to purposeful and prosperous life! We just need to understand how to relate to it better. Financial coaching and/or therapy is a growing field that is helping people all around the world establish a healthier connection with themselves and their finances.