MONEY MADNESS – INTRO (Part 3)


PREVIOUS : MM – Intro #2

 

✳️ MEANING of money
1.  Society
has placed a cultural significance on money. It conveys intelligence, fame, power, status…. to people who have it. In reality, money is just a tool that can create opportunities for those who use it correctly. It allows us to buy necessities, invest in others, travel, & build bridges to new ideas.

2. A very personal relationship
What money means to us is a complex web of experiences with friends & family, the communities we live in, & what our culture say about money & wealth. These all affect our attitudes, beliefs & values re. money, which form the basis for the meaning we place on it. 💲Money💲 is :
🔸 part psychology (how we think about it)
🔸 part utility (how we use it)
🔸 part subjectivity (personal choices we make)
It allows us TO  :
Impact & Servicebe active in our communities
Lovetake care of family
Securityfeel more comfortable
Powerhelp achieve effectiveness

Power of Choice : While history has attributed much significance to money, we still hold the power to define its meaning of in our life. The best way to live life is to feel in control, to have the ability to do what we love, & spend time with those that matter most to us. This includes the power to choose what meaning we give our money.

It reflects our beliefs & values. It’s not what we have – it’s what we do with it – that matters.  The meaning of $$ comes from the ROLES we choose to give it. With the right mindset, we can use it as a tool to help us live well.

Freedom from anxiety
Famed psychologist Abraham Maslow may be right that we re all searching for what he calls self-actualizationthe best version of ourself – but we can’t satisfy the higher levels of our human needs if we can’t provide the basic necessities first. Money can provide the essentials in life, giving us the security to strive for more.
(From “FACETS”, 2021)   (see Pyramid info expanded)

✳️ Broad ATTITUDES
Our “Money personality” is affected by them, impacting how we interact with money – ours & others»
🔻 Avoidance == A negative association w/ $. This is a coping mechanism to avoid emotional distress & can be a trait across generations.  Often the outcome is spiraling debts.
Behaviors can include :
•  Avoiding making budgets • Procrastination on bills or taxes
Not keeping records of finances, opening banking apps & checking credit card statements.
Some reasons  
✎ Short-term comfort : spending can provide temporary comfort in times of stress
✎ Survival instincts: our brain os geared toward wanting rewards & away from anything painful. 

🔻 Status == keeping up w/ the Jones, they equate self-worth w. net worth. Wanting to be a celebrity living like a star,  they buy things to be part of a social experience & be seen in a certain way. SIGNS : they believe —
• they’re only as successful as the amount of money they earn, & without a lot of money, they’re not worth much
• if something is not considered the best, it’s not worth buying
THEY :
● are financially dependent on others
● are prone to excessive gambling
● hide spending from their spouse
● prioritize outward displays of wealth
● spend more than they can afford

🔻 Vigilance == often in the wealthy & self-made. It’s important to them to feel they have enough money so they’re alert, watchful & obsessed about their financial health. But they’re not waiting for a financial windfall & tend to downplay how much they have.

🔻 Worship == $ is put on a pedestal- more will make me gappy, solve all my problems . The person ics obsessed with the idea that getting more money is necessary to make progress in life, but at the same time, convinced they will never have enough money to fulfill their needs or desires.  (More….). 

SITE :
5 attributes iof  money LEDGERS :
◆ Anonymity
Centralization
Openness
Limit of Supply
Physicality.

 NEXT : $ Origins, #1

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