Money has power. In fact, money can have power over us if we allow it to. When, instead of seeing money as a tool, we see it as a means of gaining respect, or appreciation, or status, it can control us. When our self-esteem or ego becomes invested in the amount of money we have or spend, we are setting ourselves up for failure. Changing the way we feel about money is the first critical step to finding financial freedom.
Advice from a money savings expert
Our emotional attachment to money…
Most of what we feel about money comes from how we were raised. If parents value money above all, odds are their children will as well. If parents use money as bribes for their children, this will also affect our feelings about money. If parents used money as a love substitute, for example, buying gifts in place of affection, this affects our feelings about money. We will help you understand and overcome your feelings about money.
Money should not be used as
- A substitute for self-esteem
- A substitute for affection
- A substitute for time with a parent
- A way to gain respect
Money is a tool…
Money is simply a tool of exchange, a practical means of trading your goods, services, or labor for those of another. Since barter is cumbersome on a large scale, money was invented to facilitate this exchange. Understanding that money is nothing but a simple tool of exchange will lead to a healthier perspective on its value and its place in your life.
Money and debt…
Having money and having credit are not the same. Debt is simply spending money you do not have. The acceptance of debt in our society, plus the idea that you will always carry debt, is harmful and non-productive. While there are, or may be, appropriate uses for credit, living in debt will lead to a poor quality of life. Breaking the cycle of debt is not easy, but it can certainly be done.
Overcoming the acceptance of debt…
Going against the grain and living a debt-free life is frightening to some. By living outside the mainstream of our credit-based society, many feel like they don’t belong. Overcoming this need for acceptance by others is the only means to gaining financial freedom. You need to understand how you came to this place to overcome it and avoid doing it again.
Money Coaching Los Angeles & Beyond: Get help from a money savings expert
We will help you understand your emotional attachment to money and the reasons for overspending, despite the negative effects you know it will have on your life. Contact us today for a free get-acquainted call, and begin your journey along the road to a debt-free life.