Money and Emotions; Post 3

Moving right along in our exploration of money scripts (Klontz & Klontz), today we take a look at Money Worship.

Money Worship is the belief that having more money will be the answer to your troubles and will make you happy. People who ascribe to this script also believe that you can never have enough money and tend to never quite be satisfied with the amount that they have.

“Money Worshipers are prone to buying things in an attempt to achieve happiness. They are also more likely to put work ahead of family and give or loan money to others even though they can’t afford to do so.”

In a study conducted by Klontz et al, it was discovered that despite the societal belief that more money equals happiness, there is no significant correlation between money and happiness once household incomes are above $75 000 per year and that increases in income have been found to also increase distrust and depression.

We are much better served to see that money really doesn’t buy happiness. In order to temper this money script, Klontz suggests that we can avoid buyer’s remorse by putting some thought into the purchase versus simply following the impulse to shop; this brings in the rational process needed to help with the emotional drive to spend money.

Because money worshipers can have the tendency to work a lot, a slow down and spending time with family and loved ones will help to remind ourselves that we need to attach our money to values or it loses its lustre. Klontz also notes that another way to temper money worship is to give with intention. When we are able to give budgeted money to charitable organizations that we take an interest in, we can reinforce the value of money without chasing it.

Tomorrow’s post will look at Money Status.

Information for this post was found in the following article found at Your Mental Wealth (love the clever name!):

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Photo credit: http://Photo by Arisa Chattasa on Unsplash

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