Business

Are you angry with your money?

How is Your Money Feeling?

With Dennise Williams

Sunday, August 13, 2017

Print this page Email A Friend!


How do you feel when you look at your pay cheque? What about your bank balance? Perhaps, like so many of us, you are angry. Mad that the working world or business world or corporate world does not compensate you for your worth.

You work hard, put up with foolishness, and what do you have to show for it? Anger.

Financial expert Suze Orman states that fear, shame and anger are the most common emotions surrounding money. She goes on to state: “The reason they don't have more money is because of how they feel about their life and who they are. Who you are determines what you have and get to keep. You define your money.”

So what if anger is defining your money and not you? If your emotions are in charge, then you are in big trouble. Anger costs you money. According to international poker player Robert Woolley, there are three important ways that anger costs you money.

First, anger is fundamentally incompatible with patience - they cannot exist peaceably together in the same host. Anger makes you want to do something... anything... right now.

Second, if the cause of your anger was another person, you will tend to seek revenge. So you are consumed with thinking about the other person rather than ways to build yourself up. Also, you have to seek your revenge on the other person's terms because that is when they are available, so again, your eyes are off the prize.

Third, your anger poisons the atmosphere where you are. It's contagious, and tends to sour the mood of everybody around you. When being around you stops being fun, the people who could help you stop coming around.

Now, shaking the feeling of anger is not as easy as it may sound. You first have to accept that it is a process which requires help from a friend. You have to take the time to talk about your feelings and develop ways to bring down the anger. You may even have to go back to the source of where all the anger came from.

Deevra Norling writes in the HuffPost: “It's clear that money evokes strong emotions, and everyone has deeply held and often subconscious beliefs about money. But where do our feelings about money come from?

“Our thoughts about money often stem from childhood. How our parents handled money provides the foundation for how we may handle money. This is the reason generational poverty and generational wealth exists. Poor people impart bad money habits and beliefs to their children.

“On the other hand, wealthy people tend to impart their philosophies and strategies on wealth creation to their children. Coupled with that is the inability of poor people to fund further education for their children, and the advantage that children from wealthy homes have right from the start; and so the cycle continues.

“Add to that the fact that formal schooling does not include financial education, and so we go forth into the world with little or no financial roadmap. Soon we are making bad financial decisions, running up debt, and have ourselves entangled in a financial mess in next to no time.”

So take the time to consider where you learned about money. Then consider where you are right now in regards to your current emotional state. Anger is not profitable. Getting help, shaking the feeling and moving forward in life is very profitable.

Dennise Williams, MBA (Banking & Finance) has 15 years' experience in the financial services industry. You can see more of her work at www.youtube.com/financiallyfocused.

ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT