Money brings out different feelings in all of us, with some people making it their number one priority and others seeming not to be concerned about it at all. While most of us fall somewhere between these two extremes, it’s interesting to realise that each person’s relationship with money is different. Understanding this relationship is one of the first steps toward achieving financial freedom and enjoying a comfortable retirement, making it one of the most important relationships you’re likely to have.
Can You Really Have a Relationship With Money?
The word ‘relationship’ means different things to different people, but to most of us it brings emotional thoughts to mind – love, trust, security, and approval amongst others. It may sound strange to say that a person can have a relationship with money, which is just a physical substance, but because we associate money with so many emotions it’s quite natural that we should form a relationship with it – and the healthier this relationship is, the better.
Summing Up Your Relationship With Money
Do you often find yourself spending money when you’ve had a bad day, treating yourself to a new item of clothing or an expensive dinner to make yourself feel better? Known around the world as ‘retail therapy’, this habit of spending money is extremely common, but if it goes unchecked it could end up costing you thousands each month and result in your being unable to save or reduce your debt burden.
Perhaps you sometimes find yourself on the opposite end of the spectrum, denying yourself the things you really want because you’re worried about not having enough money for tomorrow. By denying yourself the rewards that come with a successful career, you may be accumulating savings at the expense of your own happiness, creating an equally unbalanced relationship with money.
Achieving a Balanced Money Relationship
To help you achieve a balanced and healthy relationship with money, Northwood has designed an information pack and questionnaire that explains the different relationships people have with money and offers solutions to some of the most common money problems that people face. If you’re ready to create a balanced relationship with money, download it here and you’ll be on the path toward financial freedom.