Money and emotions are like that couple who can’t seem to keep their hands off each other. They’re so intertwined. It’s been argued that it’s almost impossible to be completely logical and rational when it comes to money matters, as money is an emotional currency and we often take it to heart (because it makes the world around, doesn’t it?)
Over the years, you must have built a relationship with money. What you might not know, however, is that certain emotions might be holding you back from making a truly healthy relationship with the legal tender.
In this article, we’ll be highlighting some driving emotions that might be obstructing your financial goals.
Take a look:
Fear
MTN- 8544 7968 3206 92066. There are significant fears that surround our relationship with money. For some individuals, they have a fear of risks and losses, and this deters them from wise financial actions like starting an investment.
They have this fear that money is overwhelmingly scarce, and any decision could go wrong. While this fear is understandable, latching on it could prevent one from building wealth and moving up the ladder financially. Financial decisions like investment involve risk, and it’s crucial to avoid approaching it from the point of fear and distrust.
Excitement
Excitement is a beautiful emotion that everyone loves to experience. However, we might get carried away when overwhelmed with it.
Let’s say you just got a promotion or you received a massive windfall. What would your first step be? Would you take some time to analyze your finances thoroughly, or would you go ahead to splurge and make impulse purchases? If your answer is the latter, you might have an issue with controlling excitement, and it could deter your financial goals.
GLO: 15139-72489-46238
During moments of excitement, it’s super important to take a step back to think logically, no matter how impossible it seems. Always place your goals in mind so that it can guide your financial decisions.
Top Flexxzone Picks
Do You Remember Your Money ‘Firsts’?
Money & Friendships: Dealing With Contrasting Incomes And Lifestyles
Money & Friendships: Handling Debt
Guilt
Guilt often comes to play when it comes to financial decisions like giving out a loan or dealing with someone who asks for some financial help. It’s common knowledge that issues like the ‘Black Tax’ – a stipend required of individuals by their family members could often affect one’s finances. You might feel guilty when your uncle who bathed you as a baby calls you for some money and you can’t help, or when a friend asks you to borrow him/ her money even though they have a history of owing money.
However, it’s essential to try to eliminate guilt when dealing with issues like these. If loaning or giving out money to someone could affect your finances, you should politely decline or give what you can afford, so you don’t end up having regrets.
Insecurity
Feeling insecure about finances is an emotion we’ve all experienced at some point and are probably still experiencing. Sometimes, you might feel left out when you see friends and even strangers on the internet enjoying higher living standards than you do.
This could lead you to feel insecure (and maybe even envious). If this isn’t dealt with, it could also spur you into making some regretful decisions like unnecessary debt when you try to match the levels that others have attained. Remember that you are on your journey and your goals might take longer to achieve than others. Besides, you don’t want to get dragged on the internet for living a ‘fake life’ with borrowed money, do you? Take things easy and keep grinding! ?
Hey Flexxer! Now’s the perfect time to open a Flexx account with FCMB, if you haven’t already. It’s a pretty stress-free process and you get access to seamless banking solutions. Wanna get started?
Click HERE!
Leave a Reply