Warren Buffett is quoted as saying "if you cannot control your emotions, you cannot control your money". Now I don't fully agree with this as I think emotions are to be felt not controlled, but I do think he is right in linking money and emotions. How we feel can influence how we spend. We may even spend to make ourselves feel better.
Money is a hugely emotive subject. The constant news coverage at the moment of the financial crisis, looming recession and our ever-growing energy bills is I know a huge source of concern to many people. And understandably so these are very stressful, challenging times. But in the same way we can budget and manage our money I think we can also manage our feelings around it.
The first step of course is to establish where we are right now. I ask you to consider How do you feel about money? Does it excite you? Do you feel easy talking about money, it just comes in as and when you need it? Or do you feel anxious? Overwhelmed. Embarrassed or confused? Perhaps you feel guilty spending money?
Money is often separated from our emotions. A transactional activity, payment for goods, income for work. A practical necessity of life. But it can be interpreted to mean so much more than that! We see a "good job" as one that pays well, a nice secure, regular income.
We can also interpret money to be as unobtainable as a pet unicorn often hearing people say things like money doesn't grow on trees or any fool can spend money. Some will even go as far as saying money corrupts, or that it's the root of evil. It's no wonder hearing these strong emotional messages from childhood can make our adult relationships with money complex.
So, returning to the Buffet quote it's not my intention to encourage you to control your money or your emotions but instead to bring about an awareness of the emotional relationship we have with money. This awareness is a great starting point to identify any emotional blocks you may have around money. Things that may be holding you back. I use this approach more intensely in my hypnotherapy practice and have successfully worked with clients who have blocks around money.
I will be sharing more content about our relationships with money over the coming weeks and would love to know your thoughts.
Liz x