DO YOU suffer from money sickness syndrome?
Reportedly, this condition afflicts a large percentage of the world’s
population. What is it?
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It should come as no surprise that during recent
months more and more people have fallen victim to the ill effects of
money-related anxieties. The current financial crises in many lands have
resulted in the loss of jobs, homes, and personal savings on a global
scale. Large financial institutions have collapsed, and even the
wealthiest nations have adopted emergency measures to prevent total
financial ruin. In the developing world, the rising cost of food and
other basic commodities has also caused much anxiety.
The Other Side of the Coin
On the other hand, in good times and bad times, many people
In a report entitled The Meaning of Money, the
researchers observed that some people are “highly motivated by money
and controlled by money. This may lead to stress and neuroticism.” In
contrast, they added: “Those who budget their money carefully tend to
have internal locus of control and positive feelings toward themselves.
They are the masters of money and
not slaves of money . . . We assert that those who budget their money
carefully may also have lower stress, and, thereby, lower strain.”
What is your attitude toward money? How does the
volatile nature of the world’s economy affect you? Is money your master
or your servant? Perhaps you do not experience the symptoms of the
so-called money sickness syndrome. Still, whether wealthy or poor, we
are all vulnerable to the ill effects of money worries. Consider how
adjustments in the way you handle your finances may bring you more peace
of mind and a happier life.
Money may be your master if . . .
- You avoid discussing finances because of the anxiety it causes
- Money is often the subject of family squabbles
- You spend compulsively
- You worry constantly about bills
- You are not sure how much you earn
- You are not sure how much you spend
- You are not sure how much you owe
- Your bills are often bigger than what you expect
- You often pay your bills late
- You are able to make only the minimum payment on credit card bills
- You pay your bills with money earmarked for other things
- You take on extra work just to pay bills
- You have taken out new loans to pay off old ones
- You use savings to pay routine bills
- You find it nearly impossible to get to the end of the month without running out of money
- You feel pressure to accumulate large sums of money
- You suffer physical and/
or psychological symptoms resulting from money-related stress