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Money Attitudes
Money is what our parents teach us
When we are growing up, we often hear our parents discuss money. Our money attitudes are both financial and emotional, and how our parents handled money has a large impact on how we deal with money. And we pass the same money attitudes to our kids.
Money is important
Sometimes parents use money as a way of expressing their love to children, spending rather than expressing their feelings in actions and words. Or perhaps they pinch pennies and also withheld their feelings. Give gifts to your family members. Gift giving helps us express our love for family and friends. But just giving gifts and buying expensive toys for your kids isn't enough. Give them your time, love and attention. This can go farther towards satisfying their cravings than money can ever will.
Treat money as a commodity, just as the food in your refrigerator. Some is to be used now, some should be saved for future. Just because it is there, it doesn't have to be consumed at once. Instill the importance of saving in your kids.
Don't spend irresponsibly
Spend money according to your needs. If you really need to buy something essential, don't withheld your money. Sometimes you may refuse to spend money, wasting precious time searching for bargains or making things from scratch. Know that time is far more valuable than is money. Money does have some sort of value and importance, but you need to understand it. Don't spend lavishly on luxuries and to compete with your neighbors or friends. Save enough to meet your future needs, and spend the rest in ways that give you and your family pleasure and happy memories. Those are investments too.
Money and Investments
Kids need to be educated about money, just as they need an education about everything else. So make money a topic of conversation in your home. Teach your kids the value of money, and how to save and invest. When your kids are young, form a family investment club, investing in shares of stocks that are kid-friendly, such as McDonald's and Nike.
Money and Control
Don't let money control your life. Instead, learn to manage and control your money.
Money and Relationships
Money affects career and relationships in several ways that we can't even think of. Just about every decision we make, and the choice about a spouse is also formed in some way, by our beliefs around money. In today's times, a couple gives more importance to money than their relationship. It has become a matter of self esteem and dignity. Suddenly, a woman may feel that the man should be the provider, and if he isn't, then he doesn't love her enough, Self-worth issues become magnified in relationships, and the lower the self-esteem, the higher the need or expectation. Attitudes about money and general bad habits may get in the way of both financial success and a happy marriage.
Love and money
Equating love and money is a habit we often pick up from our parents. Rather than saying "I love you", parents indulge their children with material gifts as a way of demonstrating their affection. When these kids become adults, they feel unloved unless they are being given something material. So never use money to show off your love. Use words where necessary.
Health and wealth
Money is the main source of stress for 73 percent of Americans, according to a recent survey conducted by the American Psychological Association. Money can't buy you health. But at the same time, you need money to get your illness and diseases treated. So understand that money is important, but it is not the end all and be all of life.
Exploring your attitudes towards money can be the first step in making transformation in your lives
Take into account non-monetary gains and losses, and count your achievements and experiences. You might be rich in ways you haven't realized. Make a donation to a cause or charity you believe in. What you have is not important, what you give is more important.
Learn the art of money management. Instill the right values and importance of money in your kids. Don't let money overshadow your relationships. Build relations on love, trust and understanding.