Hi Everyone! I hope you had a positive week. We continue to delve into more into personal wealth this week and look at understanding what money means to us and where we need to get to. Before I get into that, I have been reading “Happy Money” by Ken Honda and in Chapter 2 of his book, he frames two concepts – Money IQ and Money EQ. I found this extremely helpful, therefore, going forward I am going to split out personal finance posts into these two categories. Hopefully, this will also help you split out the topics in your mind and you can focus on what you are more interested in
- Money IQ – This is financial intelligence, this is all about investing, different sources of income, bank accounts, taxes and general monetary knowledge
- Money EQ – This is all about the psychology of money and the emotional intelligence required to deal with our reactions and feeling towards money.
Thus, this week’s post falls under the Money EQ category!
What does Monopoly say about you and money?
What type of emotional reaction do you have when playing Monopoly? The reason I ask, is because this is likely that the same as how you feel about real money. If you have not had a chance to play the game, I highly recommend it, though be warned, this has cause tension when playing with others or family! For those who have played, we know that most people play Monopoly to win by earning more money, owning desirable properties, paying less taxes and avoid going to jail. Most of us like like the feeling of a surprise pay out such as those “chance” cards you get in the game. Does the game stress you out? Do you fear of landing on an expensive property that belongs to your sister? Are you willing to take the risk to build a hotel on a certain space? The game can be extremely telling on your relationship with money.
Reality is obviously very different than Monopoly, in real life, there is no end to the money game and it is extremely unpredictable. We have heard plenty of stories about wealth celebrities and athletes who have lost everything they have made and died with massive amounts of debt. We have heard of people winning the lottery and then filing or bankruptcy a few years later. Given this, it is very natural that we project a lot of feelings onto money, therefore, it is important to figure it out how we feel about money and what it means to us.
- Does money help you with whatever you want to do?
- Or is it an obstacle that always get in your way?
- Has money held you back or make you feel like you have to be stuck in an unsatisfying job?
- Do you like money?
The Zen Relationship with Money
Money cannot buy happiness, but money certainly eases some of the discomfort in life. In other words, the less worry and stress you have, the more time you have to be.Happy Money – ken Honda
It is hard to imagine having a worry and stress free relationship with money. However, this should be possible. We need to start the revolution where we have a better relationship with money – a zen and loving relationship with money. Let’s explore what that actually means.
A good relationship with money is when you do not let money define who you are. This means that you do not need to keep up with the Joneses. You do not need to stress out about the future or things you cannot control. You do not believe that someone who is wealthy is taking away your opportunity to be wealthy too. It is the belief that you will always have enough of what you need when you need it. You are okay with what you have and who you are. Money does not have control or power over you, you have power over it.
People who have a loving relationship with money are doing what they love and make enough money. There is gratitude and belief that you have enough. You are financially comfortable and do not stress about money on a day to day basis. You choose what you buy by preference rather than price. There is no need to seek external validation by buying expensive or branded things. It is living the life you truly want and brings joy – spending time with people you like and not trying to impress others or being with people who are trying to impress them. Even if you have the odd money stress, you believe that it will work out; this is the zen way of money, and it all starts with gratitude.
I admit that this is a lot easier said than done, but we are all on a journey and I hope that you will join me on this one. I am working towards my zen and loving relationship with money and I hope my continued blogging and vlogging will give you the tips that you need to succeed. As always, I would love to hear you thoughts and if you liked this blog post, please click the like button!
With Sweet and Sour Love,
Pineapple Chicken x