Since my post last week about keeping travel spending in check, something has been on my mind: do I spend too much time thinking about money, either consciously or subconsciously? The truth is, money permeates our lives, whether we recognize it or not. Money is a factor in decisions we make and actions we choose. I'm going to guess that most of us don't even realize it because money has become such an ingrained part of our lives.
Understand your financial thoughts and feelings
Money takes up more brain space for some of us than others, but no one is immune. I think it’s important to recognize this since thinking about money often isn’t a pleasurable experience that adds value to our lives. Identifying how often and in what ways we think about money can help us find ways to change our thoughts to make us happier.
It wasn't until I was well into adulthood that I reflected on my own thoughts and feelings about money. Before that, I figured that my worrying, obsessing, and guilt around money was unshakeable. It's not.
Even if my scarcity and frugality mindset doesn't change (and likely it won't), understanding why I feel and do the things I do with my money is a huge help. I can recognize when my frugal ways are detrimental, embrace the benefits of being careful with money, and stop feeling bad about it all.
Great for relationships too
Understanding our own feelings and beliefs about money and combining this with knowing how the people close to us feel can also help our relationships. It's really helpful to have insight into why people do what they do and why it is different from our own actions. It gives us empathy, understanding and tolerance, and can help us avoid or resolve conflict.
When it comes to our emotions, you’ve got to name it to tame it. What you resist persists. Financial feelings are no different.
Take care of yourself (and your money),
Anita Bruinsma
Clarity Personal Finance
