Deadly Sins of Money

Several months ago we had this series on the deadly sins of spending.  This is the beginning of a very similar series – the deadly sins of money in general.  We will be focusing on the different emotions or responses that people have when it comes to their financial life.  More often than not, we will see that money problems are not really just because of the money but how we think about money.

“I deserve it� Attitude
Though this may not seem to be like a “sin,â€� it can get you down financially.  What happens with people who have this idea in mind?  They might feel that good things should be coming their way without realising the value of hard work to get the money.  As a result, they handle their finances very poorly as they struggle to get what they want, to stay in stride with their peers, etc.  The end result would be being caught in the cycle of debt – which of course is never a positive thing.

Compensation
This is perhaps one of the ways of thinking that I could most relate to.  Have you ever felt that you had to do things and buy things because you never had the chance to enjoy those things in the past?  Of course occasional occurrences is not a big deal – indeed, we are entitled to them.  However, if you see yourself doing it over and over again, using the same justification that you didn’t have these chances as a child, then something is wrong.  Again, you would end up struggling to manage your finances.

(to be continued)