Money is emotional from "summary" of The Dumb Things Smart People Do with Their Money by Jill Schlesinger
Money is not just about numbers and spreadsheets; it's also about emotions. Many people have a complex relationship with money that goes beyond the rational and enters the realm of emotions. These emotions can drive us to make decisions that may not always be in our best financial interest. Our emotions can influence our financial decisions in various ways. For example, fear can make us overly cautious and prevent us from taking necessary risks to grow our wealth. On the other hand, greed can lead us to take on too much risk in pursuit of quick profits, potentially putting our financial security at risk. Moreover, our emotions can also affect how we spend and save money. For some people, spending money can be a way to cope with stress or seek temporary happiness. This can lead to impulse buying and accumulating debt. Others may have a fear of running out of money, causing them to hoard cash and miss out on opportunities for growth. Understanding the emotional aspect of money is crucial for making sound financial decisions. By recognizing how our emotions can influence our behavior, we can take steps to manage them and make more rational choices. This may involve seeking support from a financial advisor or therapist, creating a budget to track spending habits, or simply taking a moment to pause and reflect before making a financial decision.
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