We all know that money is a highly emotional subject. You're probably not even thinking about your money mentality.
Arguments over money are the #1 cause of divorce.
Money anxiety can affect your health.
Money faux pas can negatively impact relationships with friends and family.
Beyond tracking your finances and creating a plan to build wealth, you can also benefit greatly from understanding your emotional relationship with money. Core money beliefs lurk in all of our subconscious and they comprise the values that influence our daily decisions.
As clear cut and simple as the math behind money may seem, we can't escape the fact that we all have a personal, emotional relationship with money. And that relationship influences aspects of our personal lives we may not realize at first: from the health of our love to the stability of our home, to which career and school choices we make, to how we raise our children.
Our personal relationship with money influences our decisions small and large.
Do we buy the bigger home even though we don't “need” it? Cut the latte to pay off student loan debt? Forgo hanging out with the friend who constantly talks about the last big sale they made at work?
When it comes to our relationships with money, we have a choice. We can either turn a blind eye to its importance (or believe that it's not important) or we can take a deeper look to learn how to use our relationship with money to our advantage. But first, we need to talk about the four most common money mentalities so you can see where you stand.
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