Are you emotionally attached to money?

Discussion in 'Investor Psychology & Mindset' started by Steven Ryan, 15th Jul, 2015.

Join Australia's most dynamic and respected property investment community
  1. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    I think this is an interesting exercise. If I were to answer honestly, I would say:
    People who have money are successful.
    Money comes to those who work hard.

    Except that last one is probably wrong. It is more likely people will have money if they work smart. Someone who works hard may have no money. Someone who works smart will have money coming in.
     
  2. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    I do this too. The bananas in the discount section at my IGA are much better than the full price.
     
  3. Redwing

    Redwing Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    7,426
    Location:
    WA
    Are you emotionally attached to money?

    I cry if I lose it, so I guess.... yes ;)
     
  4. Bunlee

    Bunlee Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    96
    Location:
    Sydney
    I am definitely emotionally attached to money. Not so much the material aspect of it but the choices that it gives myself & the family.

    One thing that I am working on is moving from looking at it from a scarcity viewpoint to one of abundance.

    This has been difficult in having grown up in a household where we rented during my childhood and my late father had a penchant for slow race horses:)

    Having a family myself the strongest emotion in the attachment for money to me is that we own our own PPR and my wife doesn't have to be in the workforce & is a full-time mum. I take pride in working to achieve the financial stability for my family that I did not experience.

    Having said that I am trying to make the thought of making more money playing less of a part in my life.

    This is made more difficult when I jump onto this great site.:)

    I have said it before that I am inspired by the people on this site but for myself I have chosen the boring path of a limited number of IPs and fixing rates for 5 years.

    I accept the path I have chosen as I suppose it is that safety zone in providing stability for the family without too much risk.......the scarcity approach....but still inspired by those that take the abundance path.

    regards
     

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia