What money means to you psychologically

[ThaddeusFinch]

I totally get where you're coming from. Money as a way to feel safe and free, letting you live life on your terms without stress, really resonates. It's not about showing off, but about having the comfort and chances to do what makes you happy.

 

[Larisa]

While seeing money as a tool for security and freedom makes sense, it's got its downsides too. Focusing too much on financial security might make us too scared to take chances that could lead to growth, or we might miss out on life's non-material joys, like relationships and personal passions. Plus, if we tie our happiness too tightly to how much money we have, we could end up feeling stressed or isolated, especially when financial situations change. It's all about finding that balance, where money is important but not the be-all and end-all of our happiness and sense of freedom

Absolutely, balance is key! Money's important, but it's not everything.

 

[brettb]

I hated not having money in school. Getting my first proper job at the age of 16 was such a great feeling.

I think that was really formative to my obsession with accumulating a lot of money.

My net worth CAGR since 2000 is 18.9%. That's when I started my finances spreadsheet.

 

[da-net]

Before I retired, money was both a way of keeping score but also allowed me to have peace of mind that I did not struggle to provide for my family. Today, my retirement provides everything I need, but I still do things to make money.

The money I make allows me to help support Filipino families that have great needs. I've been doing this for over 6 years now. I provide support direct to those families normally in Balik Bayan boxes I ship. Sometimes the BB boxes contain food, clothes, older laptops, household items. One family I help, I see photos and videos of the grandchildren, the food and clothes, towels, blankets, electronics and know that they can eat 3 times a day, have shelter and the solo grandmother taking care of them is not stressed too much trying to provide with her meager retirement ($75 USD monthly). The children's mother was a single Mom that passed away in 2015, so the GrandMother had to take care of the 2 little girls.

If someone else wants to do something like this for another family, let me know and I'll put you in touch with a family in the Butuan area, which is an extremely poor area of the Philippines.
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[Simon54]

For me, money isn’t just about paying bills or buying things. It’s about security and freedom. Psychologically, it gives me a sense of control and stability, but it can also bring stress if I feel like I don’t have enough. It’s weird how it impacts the mindset so much, but I guess that’s just the world we live in!

 

[ChelseaR]

For me, money means options and opportunities. Money gives me the ability to invest in personal growth, learn, and support whatever matters the most to me. I am not just talking about security, but having the opportunity to take risks and make experiences without having any financial limitations.

 

[Simon54]

To me, money is a tool for security and freedom. It's about having the peace of mind to enjoy life without constant worry, and the ability to make choices that align with my happiness and values. It's less about the flashy stuff and more about comfort and opportunities.

I completely agree. Peace of mind always comes first and money is just secondary.

 

[FX4Newbies]

Hi Trdr... first time stopping by.

I like your thread and the idea behind it. Glad you're getting quality feedback!

There are many things that money can buy. For that reason, it is essential. However, there always should be a balance because the most valuable things in life cannot be bought with money...like life itself. Steve Jobs' last words come to mind.

As a trader, any attachment to money and what it means to the trader MUST be set aside. If not, the emotions will surface quickly, and Mr. Market understands that VERY well. For me, money is a tool that provides the means to get things done, help others etc. As important as money is, time in my estimation, is even MORE important... 'cause when time is up, money cannot save you.

Keep up the good work!!!