Why do people behave irrationally with money?

Think About The Kinds Of Behaviors Driven By Money:

  • People steal and kill over money—evidence financial crimes and murders
  • People marry or divorce over money—Think, Ana Nicole Smith, the ex-playboy model who married a billionaire who was 63 years older!
  • People worry endlessly about money—The American Psychological Association reported that money is the number stressor for Americans
  • People even kill themselves over money--Read the following blog and view the CNN interview with Dr. Gottfurcht

We tell people: “It is important to realize that money by itself does not cause these hurtful experiences. Money is neutral; it’s just little coins, pieces of paper or plastic cards. The true cause—the source of our money issues—is what money represents in our minds.”

The important questions then become:

Why does money hurt so many people?

Why does money produce so much irrational behavior?

We believe the major answer to both questions is that money is an emotionally charged issue. Our reactions primarily come from childhood experiences. When a child or adolescent is repeatedly mistreated regarding money (whether verbally, psychologically or physically), he or she has a strong tendency either to repeat the experience of being mistreated or to rebel by mistreating others.

We invite you to reflect on and send us your comments about how you or others you know have developed any irrational or hurtful behaviors with money.

If you want to learn more about how to empower yourself with money, see our website, www.psychologyofmoney.com, or click on this link to receive a 10-page free guidebook, “Is your mind set for Peak Abundance?

Workshop Description:
When a person’s conscious and subconscious minds are in conflict, guess which one wins the psychological tug of war?

Wishing all of you a healthy, peaceful and prosperous new year.

James W. Gottfurcht, Ph.D.

Zoreh Gottfurcht