Money & Your Emotions – How One Affects the Other, And How To Take Charge
posted on Mar 22, 2021 | 1005 likes
See how money and your emotion mix
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We all are usually excited when we get a credit alert, whether or not we are expecting money from anyone.
We just love to see an increase in our account balance no matter how little it may be. And reverse is the case when we see a debit alert. Regardless of whether it’s a kobo that’s been deducted, it simply deducts dopamine from our emotional bank, leaving us less happy.
All these emotions point out the fact that, we have subconsciously - or consciously for some, developed some type of emotions towards money.
The extent of the impact these emotions have on us are however, determined by how we approach money. Thus, we can either approach money negatively or positively.
Negative approach towards money often leads to sad emotions which can result to negative thoughts, behaviors and decisions.
On the flip side, a positive approach towards money can lead to positive thoughts, financial intelligence and financial freedom.
It is important to note here that, the problem is usually not the money, but how we approach money.
Related: Need a loan to pay for a car urgently? Read how to get up to N5M today
Monetary Traits That Elicit Negative Emotions
As established earlier, how you approach money determines the Impact money will have on you.
At one point in time or the other, money will come and go, but how you react may have a lasting effect on your overall happiness.
If you find that you are overly distressed when you get a debit alert whether it is for a transaction you initiated or for something you know nothing about, then you could be giving in to too much negative money emotions.
Here are some traits that characterize people who are overtaken by negative emotions with money:
- Money is a priority, constantly thinking of how to work for money, and how to spend money.
- When they lose money in a business attempt, they cling to the bad experience and therefore are not willing to try again.
- When a mistake is made, they beat themselves too much about it, therefore they keep a closed mind and do not learn from their mistakes (In their defense, they will not try It again anyway)
- Money is perceived as the solution to all their problems, so they can’t think through challenges when they don’t have money as they already see money as the only way out.
- Getting a loan is viewed in a different way, like an extra burden, rather than as a solution or a tool for more opportunities.
- They only think of Investment plans when they have something left from their spending.
If you find yourself feeling too emotionally down with issues relating to money, watch yourself for the characteristics above and do the things below instead.
Monetary Traits That Elicit Positive Emotions
There are a few people who understand the psychology of money and are able to control their emotions – even when it has to do with money.
A debit alert shouldn’t have to freak you out, with the right financial literacy, you can control anything.
To build that confidence level, copy the traits below which characterize people who have their financial emotions on the positive end:
- Working to make money is not the main focus, but rather they seek financial education on how to make money work for them.
- When a business venture fails, they do not turn away from trying again, but rather they keep an open mind to learn from their mistakes and from the mistakes of others.
- When a business attempt fails, they do not beat themselves up too much, but rather see it as an opportunity to grow and become better next time.
- They do not think money is the solution to everything, rather they think money is just a means to get things done, not the actual solution.
- Because they are not scared to take risks, they see nothing wrong when they want to get a quick loan but as a tool to relieve financial stress and a tool to establish more investment opportunities.
- They invest before spending their money, rather than invest what’s left after spending.
Related: Thinking of borrowing money from friends or family? Here’s what you should know
Bottom Line
With all that being said, it is important to know that those with a positive approach towards money don’t work for money all their lives, they make their money work for them by investing smartly – either with a financial institution or a business or both. And that is the beginning of peace and long-term financial freedom.
And when they have a project, they are also not afraid to take a loan and push their projects forward.
Visit our blog at https://pagefinancials.com/blog for more inspirations on how to take charge of your financial life.
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