If money burns a hole in your pocket, you can’t figure out where it goes, and you don’t understand how to invest it, I’d call that an unhealthy relationship.
Conversely, if you are a good steward of your money, are saving and investing according to a written investor policy statement, and have learned to spend with intention, that’s a healthy relationship.
There’s a lot of space in between, and the nine symptoms described below will help you better define what your own personal relationship with money looks like. I still struggle with number two.
You need to consider your financial health as an important component of your overall well being. If you want to develop a healthy relationship with money, you need to identify the problematic habits you have built around money over the years.
Just like any other relationship in your life, you can improve this relationship with love and compassion. If you want to build a healthy relationship with money, you need to love it no matter what the circumstances are.
1. Worrying about not having enough money: If you constantly worry about not having enough money, it means you suffer from a scarcity mentality. This isn’t a good way to teach your kids about frugal living.