The Village Wealth Management Show

Relationship with Money


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When we think of relationships, we often think of our interactions with other people. Our life experiences teach us that relationships with people can be healthy or toxic based on several factors. However, how many of us consider whether our relationship with money can be the same?

Based on our values, money can make us feel secure as we provide for ourselves and others we care for. Our joy may come from the sacrifices we make with money. Money can also make us feel insecure if we do not have the things we want. We can view it negatively, as it may encourage envy and corruption. It can also position us to be overly socially competitive by attempting to “Keep up with the Joneses.”

If you haven’t done so, consider your relationship with money and how it was formed. Also, confirm that your children have a positive relationship with it. Key questions you should ask yourself include:

• Where do my money values come from?

• Does money make me feel confident or insecure?

• Do I have a history of making good financial decisions, and if not, why?

• Am I hesitant to take action when there are issues regarding money?

• Am I impulsive with money, or do I have the discipline to say no?

• Do my children have good values with money, especially if they will inherit it from me?

If thinking about these questions makes you feel uncomfortable, you might not have a good relationship with money. If you do not have a healthy relationship with it, consider consulting with a financial advisor to develop a strategy to correct the financial path for you and your family. Financial health contributes to overall health and a better quality of life.

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The Village Wealth Management ShowBy Village Wealth Management

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