Definition of Money.
To many of us, money is this tool of exchange that represents value and helps us to acquire goods and services.
Others see it as a source of security and safety.
While some perceive it to be constant source of anxiety & stress, it’s a source of relief to others.
Money Complex definition.
The knot or bundle containing memories, emotions, beliefs, perceptions and behaviours around money are what we shall call Money Complexes.
Causes to Money Complexes.
•Most cause stems from childhood ie;
1. Lived experiences eg; growing up in poverty and lack leading to a scarcity mindset and vice versa.
2. Observed behavioural patterns such as adults or Parent’s spending habits.
3. Introjected voices and images for instance; Voices such as ‘Money doesn’t grow on tree’ leading to beliefs such as Money= struggle. Or we are not meant to make money leading to an unconscious belief such as ‘I’m unworthy of money’
4. Painful Experiences such as feeling abandoned by a Parent who goes to work or witnessing parents fight over money and bills that makes one turn against the object (money) as a safer displacement target.
5. Societal Perception About money might make one equate money with self worth hence feel inadequate without it or superior with it. Or money is evil leading to avoidance behaviours hence one sabotage his efforts to keep himself ‘pure’.
6. unconscious unwritten agreements such as ‘I will never make money more than you for it means betrayal’ with Parents.
7. Environmental contexts such as growing up in ghetto where crimes and theft thrives that you internalized the belief that possessing anything valuable would make you a target or a burden to others.
Behaviours associated with Money complexes include;;
• Excessive / Impulsive gambling ie; money was meant to be spent.
• Excessive Hoarding /savings that come from a fear of loss/abandonment.
• Workaholism to make money for more money is equal to more happiness.
• Constant worrying and coping mechanism such as Overeating to regulate the inner emotional voids.
• Sabotage opportunities to make money by either asking for low pay or maintaining a low paying Job.
Effects of Money Complexes.
• Leads to conflicts in relationships.
• Self sabotage behavioural patterns for instance; James saving for his house purchase unconsciously use his savings on an impulsive purchase just when he’s about to attain the savings target.
• Being prone to Get- Rich quick schemes.
• We’re attracted to people, circumstances or events that confirm our beliefs for instance; if money is equal to struggle, we find hard jobs,, scarcity mindsets make us prioritize information that confirms our believes.
• Associating money with worth leads to an inferiority or superiority complex.
•Workaholism to make money for more money is equal to more happiness.
•Mental health issues such as stress, depression and even suicide.
How To Manage Money Complexes.
1. Beware of the cause and effect. Observe the pattern and habits. Try to listen to what those around you speak about money.
2. Acknowledge and accept. We cannot change anything we haven’t accepted in ourselves.
3. Use the Belief reframe system to change beliefs that are seemingly irrational with more balanced ones.
4. Incorporate spiritual practices such as Meditation, Visualization and repeated affirmations to program the subconscious mind.
5. Seek Financial Therapy.
Related; The Martyr Complex
Reference List.
Brad Klontz, B. T., & Ted Klontz, T. (2009). Mind over money: Overcoming the money disorders that threaten our financial health. Broadway Books.
Brad Klontz, B. T., Rick Kahler, R., & Ted Klontz, T. (2008). Facilitating financial health: Tools for financial planners, coaches, and therapists. Journal of Financial Planning, 21(4), 48–60.
Daniel Kahneman, D. (2011). Thinking, fast and slow. Farrar, Straus and Giroux.
Amos Tversky, A., & Daniel Kahneman, D. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263–291. https://doi.org/10.2307/1914185�
George Kinder, G. (2006). The seven stages of money maturity: Understanding the spirit and value of money in your life. Crown Business.
Vicki Robin, V., & Joe Dominguez, J. (2018). Your money or your life: 9 steps to transforming your relationship with money and achieving financial independence (Revised ed.). Penguin Books.
Sigmund Freud, S. (1913). Totem and taboo. Routledge.
Carl Jung, C. G. (1964). Man and his symbols. Doubleday.