Introducing Basic Money Management
Behavior Toward Money and the Emotional Side of Money
To help you understand the emotional side of money, just look around you. You can easily see that there are 2 kinds of people when it comes to money. Just think about it. Everybody you know including yourself is either a:
1.
Spender
2.Saver and Spender
What is it That Controls How You Handle Your Money?
There could be many things that motivates you to be a spender. It could possibly be due to:
Environment control
- Lack of financial education
- Lack money management skills
- Do not have a financial plan
- Lack understanding the value of money
Just like being a spenders, there could be numerous reason why you spend some and save some. Here’s some possibly reasons
- Have basic money management skills
- Is somewhat financial literate
- Follows some kind of financial plan
- Enjoys both spending and saving
- Is looking out for the future
Now I don’t want you to think that I am an expert in the area of emotional behavior because I am not. Although I love doing research on why people behave the way they do, I am not making any references to what I found.
All of these suggestion stems from discussing money with many people over a long period of time. While doing so, I discovered that there are many reasons why people behave differently toward money. Why don’t you just talk to a few people about their money situation and you too understand why.
