Top 10 Reasons Most People Do Not Get Along With Their Money

Dr. Doug Hirschhorn
Dr. Doug Hirschhorn
  1. By Dr. Doug Hirschhorn

  1. People view money on an emotional level rather than for what it is…paper.
  2. People translate money into things like security, self-esteem, ego, intelligence, self-worth
  3. People view money as a “thing” they must have rather than a “vehicle” they can use to get them to another level
  4. When too focused on money, people lose sight of what is really important in their lives such as friendships, other human beings and health
  5. People mistakenly think money will fix them or solve their problems; oftentimes it is exactly the opposite
  6. People view their themselves as victims and operate in reactive rather than a proactive approach to building wealth
  7. People let their past influence how they see the world, their relationship with money and what they believe they are capable of doing or not doing
  8. People tend to repeat the same mistakes when it comes to money decisions rather than learning from their mistakes and moving on
  9. People tend to treat money differently based on how they made it or obtained it. This is called “Mental Accounting.”
  10. People tend to anchor to what they think the value of something is rather than letting the market determine it for them