9 Symptoms of an Unhealthy Relationship with Money
9 Symptoms of an Unhealthy Relationship with Money
Do you have a love-hate relationship with money? Different people feel differently about money. Sometimes you feel confident about your financial situation. Other times you feel guilty about the money you spend. Some of us enjoy looking at our bank accounts, while some feel dreaded. Your relationship with money depends upon how you treat it. Whether you consider it your trusted friend or something that causes frustration, fear and guilt.
The good news is, no matter how unhealthy your relationship with money is, you can always take steps to improve it. However, to make that happen, you need to identify the habits which are causing you to overspend or preventing you from spending even on your basic comforts and necessities. In this article, we are going to discuss the symptoms that indicate you have an unhealthy relationship with money. But first, let’s discuss what is a healthy financial relationship.
What Is A Healthy Relationship With Money?
When we read the word “health”, nutrition, exercise and good sleep are what comes to our mind. We never consider money a part of our health. The truth is, to maintain a healthy lifestyle, you need to have a healthy relationship with money.
You need to consider your financial health as an important component of your overall wellbeing. If you want to develop a healthy relationship with money, you need to identify the problematic habits you have built around money over the years. Once you have identified these problems, it will get easier for you to manage your finances in a better way.
When you have a healthy relationship with money you are:
Intentional in your spending
Have reasonable or low debt
Saving to achieve your monetary goals
Investing in an emergency fund or insurance
Our spending habits stem from our childhood. The believes we learn about money as a child stick with us forever. Our beliefs regarding finances are what drive our financial behavior.
This makes it important for parents to cultivate healthy financial habits in their children. Doing so, they can prepare them to manage money in a better way as they enter adulthood.
How To Improve Your Relationship With Your Finances?
Now you must be wondering how to enhance your relationship with money. The answer is simple.
Just like any other relationship in your life, you can improve this relationship with love and compassion. If you want to build a healthy relationship with money, you need to love it no matter what the circumstances are.
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