There seems to be a definite correlation between money and emotions. Suze Orman is of the opinion that fear, shame, and anger are the most common emotions tied to money. Why is it that if we struggle financially we tend to be depressed?
Feeling fearful to spend money
If we hold onto our money and pay our bills at the last minute, there might be something amiss. The anxiety we feel at the idea of parting with our hard-earned cash grips us with fear. This makes us resent the fact that we have to spend money. And at times we even resent those who have more money than we do.
It is such a daunting task to pay our credit cards, that we only pay the minimum due. As a result, we do not like to talk about our finances. Not being in control of our finances makes us miserable, unable to enjoy life.
Being ashamed of your financial situation
It’s hard to be rational when it comes to money. Not being in a financially comfortable position tends to create a feeling of inferiority and failure. This often leads to a feeling of shame because we seem to think we are not living up to the new standards of success.
According to a Forbes article by Prudy Gourguechon, these are three main things to know about the psychology of our personal relationships with money:
- Emotion plays a huge role.
- Anxiety and avoidance create a vicious cycle.
- Psychologically, you can’t entirely escape your family and your past.
Mind over money
When we lie about our finances to save face and fit in, we betray our self-worth. Eventually, we become angry and disappointed with ourselves. These negative emotions often drive low self-esteem and unhappiness to such an extent that we can’t think clearly.
- Remember that money does not buy happiness. It is, however, a conduit that allows us to live a comfortable life.
- We need to live within our means and be realistic with our limitations.
- So, it may be better to think about your relationship with money as a complex one – one that will evolve over time.
This evolution will happen with self-awareness and complete honesty, with ourselves, about our personal finances. When we accept our situation, and address the imbalance bit by bit – we set ourselves up to gain clarity of mind.