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Today, we are going to examine how to separate your emotions from money so you can be more objective in your money decisions. To do this, the first step is to identify which emotions you are most susceptible to and the money situations that trigger these emotions.
Every time you let your emotions hijack your money making decision, you will feel a mixture of exhilaration, guilt, and regret.
When people have low Financial IQ, and as a result begin to suffer consequences such as chronic debt, loss of investment in a Ponzi scheme, or extreme poverty, they tend to develop deep feelings about money.
Welcome to the new Financial Intelligence series on Money and your Emotions. This is a topic that concerns everyone that ever has anything to do with money. At one time or the other, you may have made a financial decision out of emotion rather than reason.
You must learn to balance these three aspects of your emotion for you to have a smooth life.