Money makes the world go round. Unfortunately, it can also be an unhealthy obsession for some people. Whether you prefer to spend it or save it, money affects everyone on a daily basis – and your behavior can dictate your present and future financial situation.
Poverty is not the only thing that could lead to an unhealthy money mindset. Financial experts have revealed that even rich people can have a negative relationship with cash. Here are the signs that reveal whether you have an unhealthy relationship with money.
You don’t like talking about money, and when you do, it’s always in a negative way
Discussing your finances might not be easy but it should come naturally when you are with friends and family. However, if you are uncomfortable about talking about money, it could mean you see it as a negative aspect in your life.
Likewise, a cynical view of money is a sign of your negative relationship with finances. Experts say that simple statements like calling money “the root of all evil” could be connected to a deeper vexation with cold, hard cash.
You max out your credit cards all the time
This one is rather obvious since having a huge credit card debt is a major financial red flag. If you have a tendency to max your cards out, there is little doubt that you spend most of your finances paying off your debt. This makes it impossible to save any of your money.
You don’t think twice about spending although you can’t afford it
Are you the type of person who can’t say no to social events even though it requires copious amounts of cash? This is another obvious sign of an unhealthy relationship with money. Although it may look like you are capable of enjoying a shopping spree or an expensive vacation, it also means you have a lack of self-control when it comes to money.
You spend too much and say that it is the only way to have fun
A good time doesn’t have to involve a ton of cash. However, if you use your happiness as an excuse to spend more than necessary, your relationship with money could be very unhealthy.
You feel guilty about spending money
Too much control over your finances can also be a bad thing. Experts say saving too much money to the point of neglecting basic necessities is proof of a negative money mindset.
You worry about not having enough money
Who doesn’t want to be richer? Although it is fine to aspire for a bigger paycheck, some people worry that they will never have enough money to get by. It is important to remember that a positive outlook in life can also lead to an optimistic view of money.
So is there an easy way to fix an unhealthy relationship with money? Financial advisers suggest that you should view money as a tool that will help you achieve your goals. it is important to consider your finances as the means that could support your lifestyle.