Do You Know Your Money Personality?
People do not only have a physical self and an emotional self, but have you ever considered that you also have a financial or money self? Your money self is an integral part of your behaviour and it influences how you interact with money. In other words, your money personality is a determining factor when spending money, this from financial psychologists at International Psychology Solutions.
Most people don’t realise to what degree their financial behaviour is affected by their money personality, nor do they understand what effect it has on the satisfaction they gain with regards to the money they have. There is an inseparable bond between subconscious feelings and emotions with regards to money and the way in which money is obtained, saved, spent or invested.
Money Doesn’t Satisfy Emotional Needs
Some of the basic needs that people try to satisfy with money are typical survival (safety and security), power (to be in control of yourself and others) and love (the need to belong). In the long run, it is not possible to satisfy something internal with something external. This is one of the primary misconceptions of modern society.
Using money as the vehicle to understand our inner needs does not give us the answers. We cannot unfold and satisfy a basic internal need externally. We often project our personal problems onto money and then money serves as the concrete item that we use to find a solution. Unfortunately, money is not the wonder cure. It might have a short-term impact on people’s emotions, but it can never address long-term insecurities, loneliness and dependence.
Gain Insight Into Yourself
Attitudes towards money influences our behaviour, aspirations and emotional responses towards ourselves, our families and friends. If you have a grounded understanding of your money personality, it will help you gain insight into what degree these responses impact your financial well-being, financial success and failures. You need to also understand what inhibits you to obtain money, in order to attain your financial goals.
Healthy Money Self-Image
You have a healthy money self-image when you know yourself and how money affects you. You also have a healthy self-image when you like the way you deal with money. The money style that you have developed defines the amount of money you currently own, the amount you save, as well as the joy you get when you use money.
This unconscious money behaviour will stay static until there is a conscious decision to obtain more insight into your money behaviour and a concerted effort is applied to modify the unacceptable behaviour. Once you are conscious about your money style, you will learn which financial personality traits are positive and which are negative.
Remember that money alone has no meaning. It only becomes meaningful when we project value and meaning onto it.
Source: Health24