The Psychology of Money

Feb 27, 2020 | Business Tips

The topic of money affects our emotions, beliefs, and behaviors in a very personal and individual way. Whether we have enough, need more, or are indifferent can impact our overall financial status.  The most important thing to know about this topic is to be self-aware of your own feelings and actions and how they impact your wealth.

How do you feel about money in general?  Does your brain repeat common beliefs like “Money doesn’t buy happiness” or “All rich people are selfish?” Does money scare you? Excite you? Do you feel like you don’t deserve to have money? Or do you feel entitled to having money?  Is your ego wrapped up in how much money you make?

There is no right or wrong answer to any of these questions, but what your inner thoughts are telling you about money can impact on a subconscious level your ability to earn more or keep what you have.

How do you feel about how much money you have?  Do you feel blessed? Or do you feel like you never have enough?

What are your current behaviors towards money? Are you a spender or a saver? Your behavior may be driven by your beliefs and emotions. If you’re not happy with your behavior toward money, there’s an opportunity for you to change the relationship you have with money.

Once you can bring your beliefs and behaviors into your awareness, ask yourself if they are serving you well or hindering you? You may want to find some sort of happy medium that fits your needs. Everyone has different circumstances, but if you can change your beliefs and then your behavior towards money, then you might see a change in your ability to meet your financial goals.

The ultimate goal is to be content with the relationship you have with money. Everyone is different, and that’s OK. You have to be you! But if you’re not happy with the relationship you have with money, there is opportunity for you to do some work in that area.  And if we can help, please feel free to reach out.

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MKBA, Inc serves clients in Thousand Oaks, Simi Valley, Moorpark, Agoura Hills, and Ventura County, CA

More Knowledge…Better Application

Bernadette Amos, CEO

As a CPA, I understand that managing the financial aspects of a business can be overwhelming. There are so many different factors to consider, from tracking expenses and revenues to preparing financial statements and tax returns. It can be hard to keep up with everything, especially if you don’t have a background in accounting or finance.

If you’re feeling overwhelmed by the financial aspects of your business, I encourage you to reach out and schedule a discovery call. Together, we can find solutions to lower your stress, avoid any issues with IRS and help you enjoy your business again.

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