Money is one of those hot topics that make many people feel uncomfortable about discussing it. Money breaks up relationships between people more than just about anything else. If you can get a handle on your relationship with money, your other relationships are less likely to be impacted negatively by your financial affairs.
Do you see money as an obstacle or a tool?
If you see money as what stands between you and what you need or desire, you will rarely, if ever, feel as though you have enough to feel adequately safe and secure.
Seeing money as a tool to get the things you need or want, is a healthier perspective as it doesn’t take much more than adopting a more positive attitude about money to begin using it more effectively.
What type of money person are you?
You gotta love the money spenders, especially if you’re in a retail business. They love to have things, lots of things, nice, new shiny things. They use money as a therapeutic instrument, if they’re feeling a bit out of sorts, buying something new will make them feel better.
The downside is they are less likely to pay attention to their finances, over-finance, have excessive debt and file periodic bankruptcies. They’re more likely to overspend and buy things they do not need or will not use. They have the spending part down, not so much the responsibility piece.
There is no other more frugal person than the money miser, who counts every penny, tucks away money in savings and retirement, is likely rarely buy, but when they do, they’ve clipped coupons in advance or only buy items on sale, seconds or at thrift shops.
The downside is their relationship with money is based on fear and lack. Afraid that at any moment the sky will fall, and they would be devastated. They will often have barely enough to get by, and satisfy their need to hide some money in savings and investments in the hopes that one day, they can retire.
The money slacker avoids anything that has to do with money at any cost. Doesn’t mind spending it, but rarely knows if they can afford whatever it is they’re spending it on. They avoid balancing their checkbook, opening or paying bills, saving or investing money is not on their radar and retirement is, “whatever.”
The downside of money slackers is that it’s hard to even have a conversation about money with them, and dealing with money issues is so far removed from them, that they’d rather do just about anything to avoid opening an envelope to expose a depressing bill. To the money slacker, discussing a budget is considered a brutal attack.
Money haters think there is something inherently evil about money. Those who have it are money-grubbing mongrels, punishing, stealing and living off the blood of the less fortunate and poor. They are not likely to spend money on nice things and see nice things as trappings of the greedy and oppressive wealthy, or the wannabe. They’re more likely to give their money away to good causes or to someone more deserving than themselves.
The downside for the money haters, is that there is nothing for them to fall back on and they’re likely to self-perpetuate their poverty, which to them, is likened to a badge of honor indicating selflessness and martyrdom.
People find they are commonly a combination of two or more money personalities but normally will have one dominant money person type.
Coming Up: What Can I Do About It?