Are you emotionally attached to money?

Hopefully I have more options

Greed & fear seem to feature strongly within the amygdala in your brain, the Fight or Flight reflex as a protective mechanism is strong and overcoming the enemy in the mirror is always a battle.

I agree though, how you interpret events in your life matters

 

A mentor of mine talks alot about your 'Money Scripts', which she defines as how you talk to yourself about money. Your ‘scripts’ about money and self-image alter incredibly during times of economic instability and when you have experienced a sudden gain or loss. All of a sudden, after a bit of a shake-up, you might end up questioning whether you are ‘worthy’ of a big win.

An exercise she gave me a few years ago was to think about where those ‘voices’ are coming from, and question their hold over my life. One of the simplest ways to stop these types of thoughts from affecting you is to make them explicit. Articulate them.
By spelling out exactly what your beliefs are, you may be able to boost your awareness and then eventually diminish their hold over your life. This exercise will help you do this.
Go through the list below, filling in the blanks without thinking about each statement in great detail. Just use the first words that come into your head. Then go back over them when you're finished, and consider which of your answers might indicate a potential limiting belief about money.

------------------------------------

• People who have money are:
• My mother always told me that money:
• If I had enough money I would:
• Money tells people you:
• I use money to:
• Money allows you to:
• If money was no object I would:
• Money is:
• Dad thinks money:
• The best thing about money is:
• The richest person I know made his/her money by:
• Money comes to those who:
• In my family, people who have money are:
• Money can help:
• The worst thing about money is:
• People with money are:
• If someone doesn’t have much money they are:
• Enough money will let you:
• If I had lots of money, people would:
• My family thinks money:
• Eventually, I hope to have enough money to:
• The scariest thing about money is:
• Money lets me:
• I really want to use my money to:
• My main influencer in the field of money is:
• When I was a kid there was never enough money to:

 

@aussieshorter, excellent exercise to go through.

I wonder if your mentor was inspired by T. Harv Eker. He talked about our money blueprint in a similar way..

 

Or if he is a mentor?

Can an author or someone who's blog you read be a mentor?

 

Louise Bedford

Gold.

I also love T.Harv Ekker, so much value in his book.

 

That one is me!
I'm one of the biggest tightarses that I know.

But I don't suffer from it at all, if I really want something, I'll get it. It's just that more often than not, on reflection I don't want things enough.
I'm happy to shout my mates drinks and things like that though.

 

It i$ important not to get an emotional attachment to money....$ure!

Any $elf $tyled guru will tell you it'$ unhealthy and advocate$ ritual$ to break the habit.

For me, I like to li$ten to Eddie Money $ing "Baby Hold On" and ju$t float away in thought$. Work$ for me!

 

Aussie
You are doing my head in a good way.
So what your man is saying is in simple terms is not to place emphasis on money? If I am wrong please explain

 

Spludgey, omg, please consider those around you, . why are you so tight?.

 

I'm not necessarily tight with other people. My fiancee can buy her daily coffee or two (even though I think it's a waste of money), I buy her silly little expensive snacks from the shops that she likes, etc.

I really wouldn't feel any better if I spent more money.

For example, I went to the fruit shop today and when I do, I always go to the marked down section. You might have to cut off 10%, but it's less than half price and the remainder is the same quality.

 

Ok, a question would you buy your fiancé a random gift?.

 

I think it's even more than that @MTR. It's about being aware of your attitudes towards money and identifying which of those attitudes could be limiting or detrimental to your investing (or life in general).

For example, if you were to ask a sample of people to finish these sentences:

• People who have money are:
  
• Money comes to those who:

You'd likely get plenty of negative answers along the lines of 'Money comes to those who lie and steal' or 'People who have money are lucky'.

If either of those answers is your attitude towards money, it may indicate that you believe you're not worthy or that you don't believe you can achieve the level of wealth that you're aiming for. And at some point along your wealth building journey you'll subconsciously sabotage a decision or an opportunity.

Which is why it's important to get it out on paper without thinking about your answers, and then go back and think about which underlying attitudes or beliefs could be limiting you.

 

@Steven Ryan

I need money to make money....

Use most of my investment money and its profit to re- invest in growing assests. So Not really attached to money.

As @D.T. Said..it's just number on screen.

However,thought of loosing money... ZzZzZz..

 

I have seen my investments swing by tens of thousands over the last year, sometimes in a day, and it doesn't really bother me yet I am fairly frugal with how I spend money I can directly control. Note, this latter behaviour is different to the cheapskate definition given in the OP. Cheapskates care about the cost of something whereas frugal people care about the value of something. There is a big difference.

 

I don't spoil her, but every now and then I'll get her something that I think she'll like.
She buys most things she wants herself though and we've got shared accounts. So coffees that I mentioned, anything to do with giraffes, crazy expensive haircuts, etc.
I obviously don't tell her what she can and can't buy and we're spending around $20k on our wedding later this year plus another $10k on the honeymoon and probably up to $15k on a new (second hand) car next year. So I'm sacrificing one IP that I could have bought for her (or rather for us) and I'm fine with that. She lets me do whatever I want with investments, so the least thing I can do is make sure she's happy with the wedding.

She's planning a family as well, so being very tight should be a benefit once we're on a single income. Currently we save around about her after tax income per year, so we should be fine.

 

Who?

 

Eddie Money. Well he was the only singer I could find with the word "money" in his name.

 

I made a topic about people's biggest financial loss which is highly related: https://propertychat.com.au/community/threads/your-biggest-financial-loss.2223/