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10 Signs Your Relationship With Money Is Bad

10 Signs Your Relationship With Money Is Bad

We can’t get enough of it, yet at the same time, we both want to keep it to ourselves and see it go to waste—our complex connection with financial matters. In a twist of fate, that connection also determines how much of the good stuff we may expect to stock up on.

Those who are financially stable have a healthy relationship with money; the rest of us are those who don’t. Let’s say that, not only financially, we also have more difficulties than we would want.

It’s not always easy to spot the signs of a toxic money relationship, but here are five common ones: fear, avoidance, resentment, shame/guilt, and obsession. Sometimes we have to go under the surface to find out what makes us uncomfortable.

Here are the top 10 signs your relationship with money is bad, and you need to fix it as soon as possible.

Related: 8 Factors To Consider Regarding Your Personal Finance


10 Signs Your Relationship With Money Is Bad

Sign#1: You Regret Spending It

A distant cousin of mine had a minor financial difficulty many years ago. A combination of high credit card bills and a job loss left us strapped for cash for a spell. Now in the present, he still acts as though he has no money at all.

The mortgage is paid off, and he has a comfortable retirement income, yet he spends it like he’s on the verge of financial ruin. Therefore, he avoids making frequent purchases. Tight knots on frayed shoelaces extend their useful life for him.

To save money, he dilutes the milk with water. He believes he is being frugal, but in reality, his connection with money is causing him to worry and anxiety. To sum up, he is so preoccupied with the prospect of losing it that he has no time left to appreciate it.

Sign#2: You Have to Spend It

In contrast, despite regular monetary presents from her aunts, uncles, grandparents, and yes, her dad and I, my daughter is always short on cash. She should be wealthy in principle, but whenever she gets a windfall, she has to go out and blow it on something, even if she doesn’t need it.

There’s nothing wrong with treating yourself to something that isn’t a need every once in a while or spending on a non-essential now and then; we all have those things we don’t actually “need” but would love to have. But if their desire to shop escalates into an urgent need to spend, it’s essential to be realistic about what you hope to gain.

Sign#3: Last-Minute Bill Payer

Do you put off making payments until the last minute because you get a kick out of staring at a fatter bank account balance? Perhaps you’re allowing yourself the choice to use the money for anything else in the future because you’re worried about the possibility.

Or maybe you’re like my uncle in the preceding example and can’t bear the thought of parting with your money and putting off paying your bills until the last minute is your own little “so-there” to your creditors.

Sign#4: You’re Constantly Broke (or Short)

Either your budget doesn’t function, or you’re spending more than you earn. Your financial situation is out of control if you’re always riding the “I have money, now I don’t have money” roller coaster. You’re just trying to get by and have no clear strategy for growing your wealth. How simple is it to correct? Because you can be sure that the roller coaster will crash if you don’t fix the problem.

Sign#5: You Spend Before You Get

Even though you just got paid yesterday, you’re already looking forward to your next paycheck so that you may put off paying certain debts. The same poisonous money feeling behind the “Always Broke” sign also underlies this version of the character. You make the payments that are necessary right now and put off the remainder until your next paycheck. Actual, unexpected costs might arise, making this resourceful budgeting necessary.

Sign#6: Credit Card Minimum Payments

Paying the bare minimum on your credit cards is another avoidance symptom, indicating that you either live over your means or have not given your financial future any attention. After all, everyone knows that making the minimum payment each month won’t get you anywhere.

You can safely exclude yourself from this group if your current circumstance is only temporary. But if making the minimum payments is how you usually manage your finances, you need to take a closer look at your budget and develop a more strategic approach to paying off your debt.

Sign#7: You Hate Rich People

When it comes to wealth, there is a clear “we vs them” mindset, and being on the “them” side may be pretty disheartening. Worries about wealth disparity are valid, but that doesn’t mean you have to hate rich people. Raise your voice against economic injustice!

Protest by sending letters to lawmakers and holding rallies? However, if your worry evolves into anger, you’ll need to learn to let it go. Said, it won’t make the affluent stop being rich, but it will wreak havoc on your physical and mental health and your ability to enjoy life.

Sign#8: You Hate Poor People

Let me say without entering into a heated political discussion: your wealth, no matter how much it may be, is not a measure of your success.

Much more significant are how you act toward others, how you spend your life, and what you give to the world. It’s time to reevaluate your priorities and your perspective on money if you can afford to write someone off because of their salary.

Sign#9: You Think Money Would Fix Your Problems

We’ve all fantasized about being a billionaire and living carefree lives, but if you put your hope in your net worth, you’re due for a rude awakening. So frequently put off being, doing, and having what we truly desire because we think we need more money.

Quite the contrary is true. There are countless examples of people doing extraordinary things without worrying about finances. These individuals are making a difference in the world, protecting the earth, launching businesses, forming families, and overcoming their anxieties. They are doing all of this without access to a sizable financial cushion.

Sign#10: Your Fear of It

When I decided to go into freelancing full-time, I set a monetary goal for myself. That was also the amount I had earned in the corporate sector, so it represented my financial safety zone, and as long as I stayed within that range, I was happy. Recently, though, I’ve needed to shift that company’s focus. Indeed, I am thrilled by the expansion opportunities it presents.

Here, we conclude our article on the “10 Signs Your Relationship With Money Is Bad.” For more informative articles, you can visit our finance category page or stay tuned for more relevant articles!

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