Did you know that there are 4 different ways to relate to money? Money does not symbolize the same for all people. There are 4 basic categories within which people can be classified according to their way of relating to money. Discover your language of money, how it influences your business and then learn how you can improve the negative aspects of your relationship with money.
Did you know that there are 4 different ways to relate to money?
Money does not symbolize the same for all people. According to Dr. Kenneth Doyle, there are 4 basic categories within which people can be classified according to how they relate to money.
Although we can relate to money in more than one way to some degree, most of us have a dominant “ money language ”.
As an entrepreneur, it is useful to know your dominant language, as it will help you understand how you handle money and overcome weak areas of your relationship with money.
The four categories, which describe how people relate to money and what it means to them:
1. The pragmatic person:
For a pragmatic person, money is synonymous with success. Money protects you from fear of incompetence. The more money you have, the more competent you feel. Communicate your love by demonstrating what you accomplish for others with money.
His weak area: he is too dependent on money to increase his self-esteem and security. Get your identity and money purpose. It has a tendency to allow money to supply all its needs and thus tends to idolize money.
2. Affable:
For the affable person, money means a way of loving. Relationships and people are the focus of your financial desires. Money means love and affection, and lack of money means losing the ability to express love.
His weak area: he's kind and generous, but a bad money manager. You are usually poorly prepared in your long-term finances. You need to surround yourself with people who can advise you on finances.
3. Analytical person:
For the analyst, money means security. Money protects you from chaos and problems. It is very structured and well planned.
His weak area: He can be a very structured person, but he tends to be insensitive to people's needs. He also tends to be legalistic and inflexible with finances. You must work in the area of sensitizing yourself to the needs around you and learning to be more flexible with your budget.
4. Expressive person:
For the expressive person, money means acceptance and respect. Money is the means to gain the respect and admiration of others. It is the basis for relating to people who appeal to you.
His weak area: He uses money as some people use alcohol, to hide his fears and insecurities and to mitigate his pain.
As you can see, each of these people has strengths and weaknesses when relating to money.
Discover what your language of money is and learn how to overcome your weak area with the following two steps:
How to improve your way of relating to money?
- Admit that you have your own personality problems and realize that you need help balancing your relationship with money. Ask for help from people who are stronger in your weak area.
