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Money is an emotional subject from "summary" of A psicologia financeira by Morgan Housel
Money is a topic that elicits a wide range of emotions from people. It can cause feelings of anxiety, fear, excitement, pride, and even guilt. Our emotions play a significant role in how we think about, manage, and interact with money. When it comes to financial decision-making, our emotions can often lead us astray. We may make impulsive decisions based on our emotions rather than rational thinking. For example, we may overspend during times of stress or anxiety, seeking temporary relief through retail therapy. On the other hand, we may also avoid making necessary financial decisions out of fear or shame. We may delay saving for retirement, addressing debt, or investing in our future due to emotions clouding our judgment. Furthermore, our emotions can lead us to compare ourselves to others, leading to feelings of inadequacy or jealousy. This comparison can drive us to spend beyond our means in an attempt to keep up with others or maintain a certain image. In order to navigate the emotional aspects of money, it is essential to develop self-awareness and emotional intelligence. By understanding our emotional triggers and patterns, we can make more informed financial decisions. It is also important to practice mindfulness and self-control when it comes to managing money.- Recognizing the emotional nature of money can help us cultivate a healthier relationship with our finances. By acknowledging and addressing our emotions surrounding money, we can make more intentional choices that align with our values and long-term goals.
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