When it comes to money — asking for enough, saving enough, investing in line with your values and appetite for risk — we can be our own worst enemies. Most of us are vulnerable to self-control issues — the desire for immediate gratification often exceeds the need to feed long-term goals.
So how can you help yourself? How can you become your best advocate financially, and in all areas of your life?
Today I want to explore the psychological aspect of financial wealth. So I sat down with a friend and colleague who studies the mind and human behaviour, Dr. Gina Di Giulio.
Gina, where does the negativity, fear and discomfort that many people have about money stem from?
People can have complex relationships with money for a variety of different reasons. Either because of childhood experiences, messaging that they received about money growing up, how their parents handled money, because of things in the more recent past that have happened to them, or due to personal psychological factors such as anxiety that might influence one’s relationship with money. It could be just one reason, or often, a combination of factors.
Is it possible to change one’s relationship with money?
Absolutely! One has to have some insight into one’s thinking about money and any related behaviors, and a willingness to make some changes. Often this will require changing behavioural patterns, taking personal risks in terms of trying different behaviours as to how one relates to, manages, and spends money. Negative thoughts about money also can be challenged and changed as well.
Does this resonate with you? How so? Do tell!
Read more in Part 2 of my conversation with Dr. Gina.